The building has recently been refurbished and reconfigured to provide five apartments on part ground and the first floor whilst retaining commercial use on the remainder of the ground floor, let to two tenants.
The residential element has been comprehensively refurbished to a high standard and benefits from good natural light and high ceilings. The refurbishment was completed in August 2018.
The building is located on a site totalling approximately 0.29 acres offering generous parking with a total of 19 spaces.
( Agency Pilot Software Ref: 20009930 )
Location
The property is located on Spratton Road in Brixworth, Northamptonshire, approximately 6 miles north of Northampton. Brixworth is well connected via the A508 to the A14 to the north and the M1 and A43 both to the south. (Distances taken from Google Maps) Direct trains from Northampton go into London Euston taking approximately 53 minutes.
A direct service into St Pancras is also available from Market Harborough which lies 11 miles to the north, taking approximately 1 hour (Travel times taken from National Rail Enquiries) Brixworth is a thriving, self-supporting and popular village with an excellent range of facilities including nursery, a highly regarded primary school, a variety of shops including supermarket, butchers, pharmacy, hardware, greengrocer, post office and bakery. There are doctor’s and dentist’s surgeries, a library and a village hall, two pubs and a fish and chip shop. Recreational facilities include the Brixworth Cricket and Tennis Clubs, there are two playing fields and close to hand is the Brixworth Country Park and Pitsford reservoir providing opportunities for sailing, wind surfing, cycling, fishing and walking
Accommodation
Total area of 5,450 sq ft (GIA)
Terms
Tenure Freehold as per title NN349895.
Service Charge There is a service charge which is currently running at £2,141 pa.
EPC Certificates available.
Proposal We are instructed to seek offers in excess of £1.3m which equates to an overall Net Initial Yield of 6.25% and equating to a low overall capital value £238 psf, based on the GIA.
VAT VAT is applicable to the commercial part only
Specification
• Rent passing on commercial element of £35,007
• p.a.x.
• Rent passing on residential element of £50,XXX.a.
• Total rent combining retail rents passing and residential RVs of £85,827 pa