Investment Sold
10/15 Notre Dame Mews,
Northampton
NN1 2BG
Floor Area approx 8,300 sq ft
- Well located town centre office investment let to Motor Neurone Disease Association one of Britain's most successful charities
- Low passing rent of £85,000 per annum (£10.24 per sq ft)
- Lease expiring 22nd July 2020
- Offers in excess of £730,000 (£88 per sq ft)
- Net initial yield 11.05% (assuming purchaser's costs of 5.41%)
Location
Northampton is a busy commercial centre which has rapidly grown in importance mainly due to its excellent links with the M1, M6 and M45 motorway networks. Good rail links exist with London (Euston) and Birmingham (New Street) being approximately one hour away.
The premises occupy a prominent corner site at the junction of Lower Mounts and Lady’s Lane in the heart of the town centre.
Northampton is currently experiencing a massive injection of funds. Projects include the £20M improvement to Castle Station, Project Angel which will see the relocation of the Northamptonshire County Council HQ to the town centre in a new 140,000 sq ft building. In addition new developments include the relocation of Northampton University to Waterside on a £330M campus and St Peter’s Waterside where a new development of offices comprising up to 200,000 sq ft will shortly be constructed
Description
The office comprises a modern steel framed building with brick/block infill constructed over three storeys. The property benefits from air cooling along with central heating, suspended ceilings with fluorescent lighting and perimeter trunking.
There is an 8 person (630 kg) passenger lift serving all floors.
The tenant is currently undertaking a refurbishment of the wc's which are at ground and second floors. The tenant has recently completed a reroofing of the building.
There are 20 car parking spaces on site.
The property has an energy performance rating of D 77. A copy of the certificate is available upon request
Schedule of Accomodation
The property has been measured in accordance with the RICS Code of Measuring Practice (6th Edition) and extends to the following net internal floor areas:-
Ground Floor - 247.40 sq m (2,663 sq ft)
First Floor - 272.86 sq m (2,937 sq ft)
Second Floor - 250.84 sq m (2,700 sq ft)
Total - 771.10 sq m (8,300 sq ft)
Disclaimer: Ben Coleman Associates ("BCA") for themselves and for the Vendors or Lessors of the property whose agents they are give notice that: (i) these particulars are given without responsibility of BCA or the Vendors or Lessors as a general outline only for the guidance of prospective purchasers or tenants, and do not constitute the whole or any part of an offer or contract; (ii) BCA cannot guarantee the accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other details contained herein and any prospective purchaser or tenant should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the accuracy of each of them; (iii) No employee of BCA (and their joint agents where applicable) has any authority to make or give any representation or warranty or enter into any contract whatsoever in relation to the property; (iv) VAT may be payable on the purchase price and / or rent, all figures are quoted exclusive of VAT, intending purchasersor lessees must satisfy themselves as to the applicable VAT position, if necessary by taking appropriate professional advice; (v) Except in respect of death or personal injury caused by the negligence of BCA, its employees or servants, BCA will not be liable, whether in negligence or otherwise howsoever, for any loss arising from the use of these particulars save to the extent that any statement made in these particulars has been made fraudulently by BCA.
For viewing and further information please contact the sole agent:
- 01604 660014
- [email protected]
- 18 High Street Wootton Northampton NN4 6LL
- 18 High Street Wootton Northampton NN4 6LL
Rates
Further information available upon request
Terms
Further information available upon request
VAT
The property has been elected for VAT and it is intended that the property will be sold as TOGC.
Legal Costs
Each party to bear their own legal costs.
For viewing and further information please contact the sole agent:
Disclaimer: Ben Coleman Associates ("BCA") for themselves and for the Vendors or Lessors of the property whose agents they are give notice that: (i) these particulars are given without responsibility of BCA or the Vendors or Lessors as a general outline only for the guidance of prospective purchasers or tenants, and do not constitute the whole or any part of an offer or contract; (ii) BCA cannot guarantee the accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other details contained herein and any prospective purchaser or tenant should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the accuracy of each of them; (iii) No employee of BCA (and their joint agents where applicable) has any authority to make or give any representation or warranty or enter into any contract whatsoever in relation to the property; (iv) VAT may be payable on the purchase price and / or rent, all figures are quoted exclusive of VAT, intending purchasersor lessees must satisfy themselves as to the applicable VAT position, if necessary by taking appropriate professional advice; (v) Except in respect of death or personal injury caused by the negligence of BCA, its employees or servants, BCA will not be liable, whether in negligence or otherwise howsoever, for any loss arising from the use of these particulars save to the extent that any statement made in these particulars has been made fraudulently by BCA.
01604 660014
