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Lot 17 Click here for addendum

Commercial Investment – Gross Yield 13.3%
6 week completion

Situation

Occupying a prominent trading position in the town centre amongst such multiples as Greggs, Poundstretcher, Superdrug, Iceland, Specsavers, HSBC, Betfred, Cardfactory, Scrivens Opticians, Boots Pharmacy and Costa.
Rushden lies just off the A45 some 5 miles east of Wellingborough, 10 miles south-east of Kettering and 17 miles east of Northampton.

Property

Forming part of a mid terraced building comprising a Ground Floor Double Shop and a Rear 2 Storey Building.

Accommodation

Ground Floor Double Shop
Gross Frontage 35'0''
Internal Width 32'0''
Shop Depth 60'5''
Built Depth 83'4''
Sales/Ancillary Area Approx. 1,850 sq ft
2 WCs
Rear 2 Storey Building
Not inspected

VAT is applicable to this Lot

Tenure

Leasehold for a term of 999 years from 20th October 2022 at a peppercorn ground rent.

Tenancy

The property is let on a repairing and insuring lease to Afro Shop Ltd (with personal guarantor) (as an Afro Caribbean Shop) for a term of 5 years from 16th October 2025 at a current rent of £16,000 per annum exclusive.

Rent Review & Tenant's Break October 2028

There is a £4,000 Rent Deposit held.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

26-28 High Street, Rushden, Northamptonshire NN10 0PW