Auction House London

Lot 49

Restaurant - Commercial Property 

2 Market Street

Kettering, Northamptonshire, NN16 0AH

£225,000+

Guide Price (plus fees)

A Prominent Town Centre Restaurant Investment Arranged to Provide a Ground Floor Restaurant and Four Flats (Sold Off on Long Leases) Producing a Combined £25,600 Per Annum (Rising to £26,200 in 2028).

Description

The property comprises a mixed use corner building fronting both Market Street and High Street and is arranged to provide a recently refurbished ground floor restaurant and four self-contained flats (all sold off) arranged over the first and second floors.

Tenure

Freehold

Location

The property is located on the corner of Market Street and High Street in the busy town centre, adjacent to the multiples of Lloyds bank, Barclays bank, Subway and opposite the Royal Hotel in the heart of Kettering town centre. Kettering is located approximately 15 miles from Northampton and has good access to A14 and M1, as well as transport links provided by Kettering rail station.

Accommodation

Lower Ground & Ground Floor
Basement
Restaurant Area with large yard housing fridge chillers

Net Lettable Area Approximately 1,828 sq ft / 169 sqm

First Floor
Flat 2A
Two/Three Bedroom Flat

Flat 2B
Two Bedroom Flat

SecondFloor
Flat 2C
One Bedroom Flat

Flat 2D
One Bedroom Flat

Tenancy

The restaurant is subject to an FRI lease to RT Foods ( Midlands ) Ltd for a term of 10 years expiring on 10th April 2029 at a rent of £25,000 per annum (rent review in 2026). Each flat is sold off on an 125 year lease commencing 25th December 2002 producing £150 per annum (rising to £300 in 2028).

Note

The property forms part of a conservation area.

VAT

VAT is applicable

EPC Rating

D

Additional Fees and Disclaimer

Administration charge: £1,500 including VAT unless otherwise stated in the addendum.

Buyers Premium and Disbursements: Please see the legal pack and the addendum for any disbursements and buyers premium that may be payable by the purchaser on completion.

Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve ( a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Particulars including images and video tours on the website and within the catalogue are believed to be correct but their accuracy is not guaranteed. The auctioneers will always endeavour to inform prospective purchasers of variations to the catalogue, when such changes are brought to their attention. The auctioneers nor their clients can be held responsible for any losses, damages, or abortive costs incurred in respect of lots that are withdrawn or sold prior to auction. Viewings are carried out by third party agents and we will endeavour to give appropriate notice should the published viewing time change. Auction House London will not be liable for any costs or losses incurred due to viewing cancellations or no shows. Information relating to Rating matters has been obtained by verbal enquiry only. Prospective purchasers are advised to make their own enquiries of the appropriate authorities. Prospective purchasers are deemed to verify for themselves whether tenanted properties are occupied and rents are being paid. All measurements, areas and distances are approximate only. Potential buyers are advised to check them. No representation or warranty is made in respect to the structure of any properties nor in relation to their state of repair. Prospective buyers should arrange for a survey of the particular lot by a professionally qualified person.

Download Legal PackEnquire NowFinance AvailableStamp Duty CalculatorRegister to Bid
Open House Viewings:

Tuesday 16th April16:30 - 17:00

+Add to Calendar
For further information, please register for the legal pack. To speak to a member of our team about this lot, please call us on 020 7625 9007 or email us at info@auctionhouselondon.co.uk

Share this lot

Similar Properties

Lot 70

Lahori Gate 5 Manchester Road, Bradford, West Yorkshire, BD5 0QZ

*£400,000+

Lot 20

13-15 Herbert Road Woolwich, London, SE18 3TB

*£130,000+

Enquire about 2 Market Street, Kettering, Northamptonshire, NN16 0AH

Sign-up for our newsletter

Get the latest lot details along with new blog posts, straight to your inbox

Services

  • Request Auction Valuation
  • Remote Bidding Registration
  • Online Auctions
  • Property Services

Auctions

  • Current Auction
  • Past Auctions
  • Lots still available
  • Guide to buying at auction
  • Guide to selling at auction
  • General Conditions of Sale
  • Register to Bid

Guides

  • Guide to buying at auction
  • Guide to selling at auction
  • Guide to buy online

About

  • About Us
  • Why Choose Us
  • Meet The Team
  • Privacy Policy
  • Complaints Procedure

Auction House London

5 Hampstead Gate, 1a Frognal, Hampstead, London NW3 6AL

Tel: 020 7625 9007
Fax: 020 7990 9979
Email: info@auctionhouselondon.co.uk
Auction House London
Site built by IVC
Copyright © 2024 Auction House London
Registered Address: 5 Hampstead Gate, 1a Frognal, Hampstead, London NW3 6AL Company No. 07048084
Footer Logos