Block of flats and two retail units in Northampton up for sale at £3 million - here's how much a landlord could make

A block of flats and two retail units in Northampton town centre described as a “rare opportunity” have gone up for sale at £3 million.

The building on the corner of Abington Street and Dychurch Lane, formerly home to Caffe Nero at ground floor level, has been put up for sale by Archways Real Estate, based in Billing Road.

Archways Real Estate said: "[We] are proud to present a rare opportunity to purchase this newly converted block of 11 apartments and two retail units in a prime town centre location. The apartments are arranged over three floors and are a mixture of one and two beds of larger than average size. Eight of the apartments benefit from en suite facilities and the penthouse has a roof terrace. Demand for apartments in this area is high for purchase and rental, a premium can be expected considering the apartments size and quality of finish."

The estimated rental value is £19,500 per calendar month, according to Archways Real Estate.

The first retail unit on the ground floor is currently let at £35,000 per year and the second retail unit was previously let to Caffe Nero for £60,000, according to Archways Real Estate.

Archways says it is interested in offers over £3million.

Plans to convert the site into flats were submitted in March this year. Documents said the first and second floors have been vacant since 2009.

Caffe Nero closed down in September 2020 after being in business for 15 years.

Signs appeared on the door telling customers the shop "had to close due to circumstances beyond our control."