14 Abington Street, Northampton, NN1 2AJ

Description

The property comprises a high yielding retail investment occupying a prime pitch on a high footfall pedestrianised street. Arranged across ground and first floors, the property is fully let to Wenzels The Bakers Limited on a 10 year lease expiring 11.05.2033 and paying £38,500 per annum. The lease is on full repairing and insuring terms and includes a tenants break option in the 6th year. The property occupies a prominent pitch fronting Abington Street, the prime pedestrianised pitch within Northampton. The street is characterised by national occupiers including Tesco, Specsavers, Clarks, and Waterstones.

Accommodation

Ground and first floor retail unit; 2,160 sq ft (200.7 sq m).

Location

Prominent pitch fronting Abington Street, the prime pedestrianised pitch within Northampton, characterised by national occupiers including Tesco, Specsavers, Clarks, and Waterstones.

Tenure / Property Information

Investment Analysis

Commercial leasehold retail investment with 2,160 sq ft fully let to Wenzels The Bakers Limited at a stated passing rent of £38,500 per annum. The £300,000 guide implies a gross rent-to-guide yield of 12.83%. The supplied sold comparables are historic, inconsistent and do not provide a reliable current valuation basis; no capitalisation yield, market rent evidence or leasehold valuation evidence is supplied. The tenant's sixth-year break option is material. This is an investment appraisal rather than a formal valuation.

Investment Snapshot

Strategy Recommendation

Consider as an income-led commercial investment only, subject to confirming the lease, tenant covenant, break-option mechanics, title and all acquisition costs. Do not rely on the guide as a market valuation.

Works Required

No refurbishment or repair works are evidenced. The property should be inspected and the lease, repairing obligations, service-charge position and tenant compliance reviewed before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A refinance appraisal cannot be completed because no supported GDV, commercial valuation yield, acquisition costs, works budget or lending terms are supplied. The stated rent may support income-based finance, but the sixth-year tenant break and leasehold structure require lender and legal due diligence.

Buy-to-Let Analysis

The stated passing rent is £38,500 per annum and produces a 12.83% gross yield against the £300,000 guide, before acquisition costs, finance, tax and other ownership costs. The full repairing and insuring lease may reduce landlord cost exposure, but the tenant's break option in year six creates income and reletting risk. Net yield cannot be established because fees, finance costs, insurance, service charges and other expenses are not supplied.

Flip Analysis

A flip analysis is not supported by the evidence. No current GDV, resale yield, selling-cost allowance or refurbishment requirement is supplied, and the property is occupied under an existing commercial lease. Any resale value would depend materially on the tenant covenant, lease terms and investor yield expectations.

Investor Risks & Due Diligence

• Tenant break option in the sixth year may cause vacancy, reletting costs or rent reduction.

• No current commercial valuation or supported capitalisation yield is supplied.

• The historic sold comparables are inconsistent and unsuitable for a reliable current valuation without further evidence.

• Buyer, administration and other acquisition costs are not supplied.

• Leasehold title, superior lease obligations and any ground rent or service-charge liabilities are not detailed.

• Tenant covenant and ongoing payment performance are not evidenced beyond the stated occupation.

Recommendation

Consider as an income-led commercial investment only, subject to confirming the lease, tenant covenant, break-option mechanics, title and all acquisition costs. Do not rely on the guide as a market valuation.

Strategy Rating

Analysis Confidence

Passing rent, lease terms, floor area, occupancy and guide price are supplied, but there is no reliable current valuation evidence, capitalisation yield, cost schedule, fee schedule, EPC or detailed lease/title information.