THE acquisition of 99p Stores by discount rivals Poundland has left prime retail space on Abington Street in Northampton available.
With the two stores, which sit almost opposite one another, being consolidated into one outlet, the 22,000 square foot property had become available for sale or to let.
There is flexibility on the space available, with the 8,400 square foot ground floor retail space available separately. The ground floor is to let at an initial rental of £119,000 per annum or for sale at £2,000,000.
Other floors comprise a 5,600 square foot first floor and a second floor of 8,000 square feet. The entire building may be available for sale or to let, with terms to be agreed, and has potential for high-rise extension subject to planning and may suit student accommodation.
Kettering town centre offers a retail investment opportunity with a High Street property coming to market. The three-storey property, close to Marks and Spencer, is securely let to Marie Curie and the two upper floors have scope for conversion into residential accommodation. Offers in excess of £300,000 are invited for the freehold which generates a rental of £20,000 a year, representing a healthy return of 6.7 per cent.
In the industrial sector, we have an end-of-terrace warehouse and trade counter unit in Gatelodge Close, Round Spinney Industrial Estate, available to let.
The 5,358 square foot unit includes a 4,820 square feet workshop and 538 square feet of office space. Minimum eaves height to the main workshop area is 4.2m and the unit benefits from a front forecourt loading and parking area.
The unit is available to let on a new lease at £25,000 per annum exclusive.
Two small industrial warehouses units, one near the town centre and the other on Moulton Park are new to the market through Hadlands. 21 Upper Priory Street in Northampton, less than a mile from the town centre, is 1,350 square feet and is available to let on a new lease at £9,000 per annum. 5 Low Farm Place, Moulton Park, is slightly smaller at 987 square feet and is available at £8,500 per annum exclusive.
Both properties are ideal starter units suitable for light industrial and storage as qualifying small businesses will pay no business rates from April 2017 to April 2018.
Acting jointly with Drake Commercial, Hadlands has recently let the last remaining unit within a block of four properties at Cornwell Business Park, owned by Birmingham investors. The property has been let to a grade A tenant Rico Logistics on a six-year lease at the asking rent of £33,000 per annum.
The property is one of a terrace of high-tech units offering a mix of office and industrial space each totalling approximately 5,400 square feet. Reaching 100 per cent occupancy of this 23,000 square foot industrial scheme is indicative of the health of the local commercial lettings market.
For more information about properties or services available from Hadland Chartered Surveyors, telephone 01604 639657 or visit the website www.hadlands.co.uk
