No longer on the market
This property is no longer on the market
MapRestaurant
Auction
Sold STC
Restaurant
Features and description
Sold for £225,000.Guide Price = £225,000+
*For Sale By Online PublicAuction 17th April 2024 08:45 AM. To inspect the legal documents for this property go to our website to download the legal pack*
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).
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.
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.
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
Accommodation
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.
Note
EPC Rating
D
VAT
VAT is applicable
Open House Viewings:
Thursday 4 April 2024 4:00 PM - 16:30
Saturday 6 April 2024 4:00 PM - 16:30
Thursday 11 April 2024 4:30 PM - 17:00
Saturday 13 April 2024 4:30 PM - 17:00
Tuesday 16 April 2024 4:30 PM - 17:00
*For Sale By Online PublicAuction 17th April 2024 08:45 AM. To inspect the legal documents for this property go to our website to download the legal pack*
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).
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.
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.
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
Accommodation
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.
Note
EPC Rating
D
VAT
VAT is applicable
Open House Viewings:
Thursday 4 April 2024 4:00 PM - 16:30
Saturday 6 April 2024 4:00 PM - 16:30
Thursday 11 April 2024 4:30 PM - 17:00
Saturday 13 April 2024 4:30 PM - 17:00
Tuesday 16 April 2024 4:30 PM - 17:00
About this agent
Auction House London is the largest branch of the Auction House UK brand. Auction House holds more auctions annually than any other firm of auctioneers in the UK and sold 4,957 properties throughout 2018 – over 1,000 properties more than our closest rivals. Co-founded by Andrew Binstock and Jamie Royston in 2011, Auction House London has grown year on year in its relatively short history to become one of the top 5 residential property auctioneers in the UK. We adopt a modern and dynamic approach to offering high quality auction facilities to both corporate and independent sellers and buyers. We firmly believe in the importance of extensive online marketing campaigns in addition to the traditional offline methods. Our forward thinking approach to auctions has been regularly applauded and we are very proud to be recognised as offering extremely high levels of customer service to all of our clients. With a proven track record in residential and commercial investments and property auctions, the team offers a fresh and energetic approach to their auctions, providing a quality service that achieves the right results for all parties.