Fifteen community retail shops in Northampton are to be sold off by the borough council as they have been deemed ‘surplus to requirements’.
The neighbourhood shops were developed as part of housing development schemes by Northampton Development Corporation from the late 1960s onwards. Many however need increasing repairs and have low energy performance levels.
The shops up for sale are three units at Blackthorn Bridge Court, the supermarket and post office at Ecton Brook Road, Olden Road Supermarket in Rectory Farm, Standen Barns Supermarket and Standens Chippy at Walledwell Court, The Hill Shop at Hunsbury Hill Road, two units at Lings Local Centre, a supermarket and takeaway at Farmhill Road and two units at Prentice Court.
Each of the 15 stores will have a restrictive covenant placed on the title so they remain as commercial use on the ground floor. The shops will then be sold at a market value determined by an independent registered valuer.
Speaking at a cabinet meeting on 4 March at The Guildhall, cabinet member for regeneration and enterprise Councillor Tim Hadland explained why the council was disposing of the shops.
“The council has a substantial property portfolio of which more than half is retail. Retail is not the best thing to be involved in at the moment unless it is tip-top. They really don’t sit well within our overall portfolio and the aim is to dispose of them by way of a freehold sale. This is a sensible update of our portfolio,” he said.
“The oldest of them is 50-years-old and they need improving and repairing to bring up to standard. They all have occupying tenants who will be offered the first opportunity to get them at a value to be determined independently. I think the likelihood is that the tenants would like to buy them and invest in them further for their communities. They would be given six months from the date of the valuation to go ahead with the purchase.”
Any sale not agreed within the six month deadline will proceed to the open market.
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