Property Description
Summary: RARE TOWN CENTRE INVESTMENT OPPORTUNITY • Prominent location within Cultural Quarter • Three storey retail unit with basement • New long lease to well established tenant • Character property Location: The property occupies a prominent town-centre position in the heart of Northampton, at the junction of Derngate, St Giles Street, Guildhall Road and St Giles Square. It is situated diagonally opposite the Guildhall, within an established mixed commercial pitch; the immediate terrace includes an estate agent together with a range of licensed and leisure occupiers, including bars, restaurants and public houses. The location forms part of Northampton's recognised "Cultural Quarter", centred on the Royal & Derngate Theatre on Guildhall Road immediately to the south. The surrounding area has benefited from significant public-sector inward investment in recent years, including the redevelopment of the Vulcan Works and the refurbishment of the Northampton Museum & Art Gallery. Accommodation: The property is arranged over basement, ground, first and second floor levels, housed under a slate-tiled roof. The elevations are of coursed solid ironstone and the first-floor windows comprise timber-framed, single-glazed sash units with decorative arched lintels. At ground-floor level there is a traditional, modern glazed retail frontage within a powder-coated aluminum frame, with conventional retail signage above. The property is let to a single occupier trading as a tattoo studio. Accommodation is arranged over basement, ground, first and second floor levels, each providing comparatively modest floor areas. Vertical circulation is via a single spiral staircase. The basement provides a staff room and WC facilities, while the ground floor serves as the principal customer reception/waiting area. The first and second floors are fitted with artist chairs and business-specific fit-out to support the tenant's operational requirements. Floor Areas: Ground Floor 232 Sq Ft 21.55 Sq M First Floor 213 Sq Ft 19.79 Sq M Second Floor 208 Sq Ft 19.32 Sq M Basement 163 Sq Ft 15.14 Sq M Total Area 816 Sq Ft 75.81 Sq M Terms: The property is let on a 10-year term, commencing 27th February 2025, at a headline rent of £11,000 per annum exclusive, subject to an upward-only rent review at the fifth year and a tenant break option, on conventional FRI terms. A fully copy of the pertaining lease is available upon request. Legal Costs: Each party is to be responsible for their own legal costs. VAT: It should be noted that all figures quoted either verbally or in writing are exclusive of VAT unless specifically stated. Services: We understand that mains services including, water, drainage and electricity are connected to the property. It should be noted that none of the services have been tested and it is up to prospective purchasers to ensure that the facilities are installed and working to their own satisfaction. Service Charges: Energy Performance Certificate Rating: D - 95 Other Information: In accordance with Money Laundering Regulations, please be aware that any prospective purchaser will be asked to produce I.D. documentation when a sale is agreed and we ask for your cooperation in order to not delay matters. Viewing: To view and for further details please contact: Ravi Varambhia Email: rv@underwoods.co.uk Telephone: 01604 404060 Direct Dial: 01604 774149 Rob Keeves Email: rk@underwoods.co.uk Telephone: 01604 404060 Direct Dial: 01604 774143