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15-17 Market Place, Brackley, Northamptonshire, NN13 7AB
Guide Price* : £1,650,000 to £1,950,000
Multi-Let Investment Producing £163,080 Per Annum
- Fully Let Mixed Use Investment At The Heart Of Historic Market Town
- Attractive Period Buildings On Site Of Approx. 0.36 Acres
- Freehold
- Total Accommodation Approx. 1,144.85 Sq M (12,323 Sq Ft)
- 9 Commercial Units Let To A Range Of Leisure, Retail And Office Uses 658.45 Sq M (7,085 Sq Ft)
- 8 Residential Units (5 No. 1-Bed Flats, 2 No. 2-Bed Flats And 1 No. 2-Bed Cottage)
- Asset Management Opportunities
Addendum
Flat 2- a new AST has been agreed from 27/09/2024 until 26/03/2025 at a rent of £9,300 per annum.
Description
The property occupies a prominent position fronting Market Square and comprises a former market house and associated buildings to the rear within the courtyard. 15/17 Market Place is a 3-storey building of traditional brick construction with retail at ground floor level (15/17 Market Place and Unit 1), with 5 flats above on 1st and 2nd floors (flats 2 – 6) accessed via an external staircase within the courtyard.
To the rear of the property lies the courtyard, framed by an impressive renaissance style Grade II listed stone gateway. On either side of the courtyard are a mix of single and two storey buildings.
Flat 1 is a self-contained 2 bed cottage of traditional stone masonry construction under a pitched slate roof. Immediately adjacent is a converted stables block which is let to the Lounge Café Bar on ground floor (Unit 2) with outdoor seating and a separately let small office above (Unit 8). Unit 3, let to On the Move Mobility Ltd, is on the same terrace of buildings which is partially single storey under a pitched tiled roof, with another single storey building adjacent (Unit 4) also let to the same tenant.
On the southern side of the courtyard, is a two-storey building adjoining the stone gateway, comprising a cafe (Unit 6) at ground floor with two 1-bed flats above (flats 7 & 8) benefitting from a separate entrance on the side elevation. The building was reconstructed in c. 2006 and is of modern construction faced in brick and masonry under a hipped slate roof. Units 5 & 7 partially adjoin this building on the southern side of the courtyard and comprise two single storey brick built units under mono-pitched roofs.
The property has a total site area of approximately 0.147 hectares (0.362 acres).
Location
The property is situated in the centre of Brackley which is a thriving town in West Northamptonshire. The property is located directly opposite the town hall and the immediate area provides a number of retail shops, pubic houses and restaurants.
The property is located within a Conservation Area.
Brackley is located next to the A43 dual carriageway with good access to neighbouring towns of Banbury, Buckingham and Towcester with Junction 10 of the M40 approximately 6 miles away and Junction 15a of the M1, 17 miles away giving excellent road access to London and the Midlands.
Tenure
Freehold under Title Number NN258839.
Planning
The Stone Gateway (located in the Courtyard area) is Grade II Listed. Further details can be found here: https://historicengland.org.uk/listing/the-list/list-entry/1040549?section=official-list-entry (List Entry Number: 1040549).
The remainder of the property is not Listed.
Planning Authority
West Northamptonshire Council - www.westnorthants.gov.uk
Bidder Registration
Registration for bidding will close at 2:00 pm the day before the auction, after which we cannot guarantee giving you permission to bid at the auction.
VAT
The property is elected for VAT
Energy Performance Certificate
Unit 1-6 Courtyard Shops 15/17 Market Place: B39
Unit 1: B45
Unit 2: C58
Unit 3: C51
Unit 4: D79
Unit 5: B36
Unit 6: C56
Unit 7: B36
Unit 8: C65
Flat 1: D55
Flat 2: D65
Flat 3: D60
Flat 4: D62
Flat 5: D66
Flat 6: D66
Flat 7: E53
Flat 8: E48
Note
We understand from the Seller that Units 2, 6 and 8 are elected for VAT whilst the remaining units are not elected for VAT purposes.
Accommodation
| Floor | Use | SQ M | SQ FT | Tenant | Lease Terms | Rent £ PA |
|---|---|---|---|---|---|---|
| 15/17 Market Place | Retail | 122.60 | 1,319 | Courtyard Shops | 27/12/2019 expiring 26/12/2025 with RR every 3 years. Break on 27/12/2022, (not exercised) |
£22,200 |
| Unit 1 | Retail | 57.34 | 617 | T/A The Flowerpot | 01/08/2022 expiring 31/07/2028 with RR annually. Break on 01/08/2025 (with 6 months notice) |
£9,000 |
| Unit 2 | Cafe | 110.90 | 1,193 | The Lounge Cafe Bar | 08/03/2022 expiring 07/03/2028 with RR every 3 years | £14,100 |
| Unit 3 | Retail | 92.10 | 1,060 | On the Move Mobility Limited | 01/03/2024 to 28/02/2030 with RR annually. Break any time with 3 months notice. |
£8,700 |
| Unit 4 | Retail | 41.87 | 451 | On the Move Mobility Limited | 01/12/2018 to 30/11/2024 with RR annually. Break any time with 6 months notice. |
£6,480 |
| Unit 5 | Retail | 68.85 | 741 | JRYoung Limited | 01/12/2023 to 30/11/2029 with RR every 3 years. Break anytime after 01/12/2024 with 6 months notice. |
£9,600 |
| Unit 6 | Retail | 96.00 | 1,033 | Longs Catering Services Limited | 20/12/2023 to 28/02/2025 with no RR. Break anytime with 3 months notice |
£14,100 |
| Unit 7 | Retail | 22.05 | 237 | The Glow Room | 16/08/2023 to 15/08/2029 with RR annually. Break any time with 6 months notice |
£3,840 |
| Unit 8 | Retail | 46.74 | 503 | Caroline Cares For You Ltd | 01/08/2023 to 31/07/2029 with RR annually. Break anytime with 6 months notice |
£5,760 |
| Commercial Sub Total | 658.45 | 7,085 | £93,780 | |||
| Flat 1 | Two Bedroom | 74.20 | 799 | AST - Private tenant | 11/12/2022 to 10/06/2023 | £10,500 |
| Flat 2 | One Bedroom | 56.00 | 603 | AST - Private tenant | 27/09/2024 to 26/03/2025 | £9,300 |
| Flat 3 | One Bedroom | 33.00 | 355 | AST - Private tenant | 25/06/2022 to 24/12/2022 | £7,200 |
| Flat 4 | One Bedroom | 64.20 | 691 | AST - Private tenant | 31/08/2013 to 29/02/2014 | £8,100 |
| Flat 5 | Two Bedroom | 64.50 | 694 | AST - Private tenant | 05/09/2022 to 04/03/2023 | £8,700 |
| Flat 6 | Two Bedroom | 101.90 | 1,097 | AST - Private tenant | 04/08/20218 to 03/02/2019 | £9,300 |
| Flat 7 | One Bedroom | 36.60 | 394 | AST - Private tenant | 08/11/2022 to 7 May 2023 | £8,100 |
| Flat 8 | One Beroom | 56.20 | 605 | AST - Private tenant | 30/08/2023 to 29/2/2024 | £8,100 |
| Residential Sub Total | 486.60 | 5,238 | £69,000 |
Contact
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* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every 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.
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Subject to Contract and Exclusive of VAT © Lambert Smith Hampton April 2025
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