Retail premises for sale

28 High Street, Kettering, Northamptonshire NN16

The property comprises a mid-terraced, three-storey mixed-use investment, with a café occupying the ground floor and two self-contained flats above, benefiting from separate access directly from the High Street.

The property currently produces a total annual income of £41,680 and the freehold is offered for sale at an asking price of £450,000, reflecting an attractive gross yield of 9.26%.

Location

The property is located in a prime location of Kettering’s pedestrianised shopping area with neighbours to include Greggs, Ladbrokes, B&M, The Works etc.

Kettering Borough has a population of circa 100,000 with plans to build a further 5,500 homes in Kettering East with Phase 1 already underway.

Description

The property is a mixed use mid terrace three storey building. Estimated to have been constructed in the 19th century.

The property comprises of a cafe/restaurant to the ground floor with two flats situated to the first and second floors, accessed via a separate entrance and communal stairwell off the High Street.

Accommodation

The ground floor commercial part has been measured on a Net Internal Area. The residential flats have been measured on a Gross Internal Area and provide the following approximate areas:

Ground Floor - 236 sq.m (2,486 sq.ft)
First Floor (Flat 1) - 56 sq.m (603 sq.ft)
Second Floor (Flat 2) - 59.sq.m (635 sq.ft)
Total - 351 sq.m (3778 sq.ft)

Tenancies

The ground floor is occupied by Jenny's cafe on a 10 year Fri lease from January 2025 with a current passing rent of £25,000 per annum.

The residential flats are both let at £695 per calendar month. Deposits of £801 & £801.92 are held for each flat.

The property has a current passing rent of £41,680 per annum exclusive.

Terms

The freehold is available to buy with a guide price of £450,000.

Business Rates

The property has a rateable value of £18,500. Interested parties should check with the local authority regarding the amount payable.

Council Tax

Both flats currently sit within Band A - council tax payable is calculated at £1,616 for the current tax year 2026/2027 for each flat.

Planning

The property has consent under Use Class Sui Generis and C3 of the Town & Country Planning (Use Classes) Order 1987.

Services

We understand that all main services are connected to the property, but these have not been tested by the agent.

Legal Costs

Each party are to bear their own legal costs incurred during the transaction.

VAT

VAT is applicable to the purchase price.

EPC

The property has up-to-date EPC's which are available upon request.
Ground Floor - D
First Floor (Flat 1) - E
Second Floor (Flat 2) - D

Id Checks

In accordance with Anti-Money Laundering regulations, proof of identification for all purchasers will be required. The vendor’s agent uses Thirdfort to verify the identity and residence of potential purchasers.