New Hope for Northampton's Gold Street as Indian Chef to Open Soon

Strategic Insights -

A series of closures has plagued the prominent Gold Street location in Northampton town centre, with three failed venues in three years failing to make a lasting impression. However, the community's wait for a new business to open its doors is finally over. The banner outside the mixed-use building has revealed that Indian Chef, offering a unique blend of Indian, Sri Lankan, and Indo-Chinese cuisine, is preparing to open its doors soon. This news comes as the building, a seven-bedroom property with a current gross income of £63,000 per annum, is set to be sold by auction on September 24 with a guide price of between £600,000 and £650,000.

Key Takeaways:

  • The mixed-use building, located at the top of Gold Street, has been home to three failed venues in three years: Electric Pavilion, Craft & Skewers, and Tequila & Lime.
  • Electric Pavilion, the first business to occupy the premises, launched in April 2022 but closed just 10 months later in February 2023.
  • Craft & Skewers, an Indian gastropub that combined Indian street food with a traditional pub environment, opened in May 2023 and closed a year and three months later in August 2024.
  • Tequila & Lime, the last venue to occupy the premises, closed just eight months after opening, making it the least successful of the three.
  • The community has eagerly awaited news of what would replace the failed businesses, with Indian Chef now set to bring a new taste of India to the area.
  • The building's owner is selling it by auction on September 24, with a guide price of between £600,000 and £650,000.

Statistics:

  • Three venues have closed in three years at the prime Gold Street location: Electric Pavilion, Craft & Skewers, and Tequila & Lime.
  • Electric Pavilion was the first business to occupy the premises, launching in April 2022.
  • Craft & Skewers, the second business, opened in May 2023 and closed in August 2024, making it the least successful of the three.
  • Tequila & Lime, the third business, closed just eight months after opening in August 2024.
  • The building has a current gross income of £63,000 per annum.
  • The owner plans to sell the building by auction on September 24, with a guide price of between £600,000 and £650,000.

Sources:

  • Northampton Chronicle & Echo (https://www.northamptonchron.co.uk/business/three-failed-venues-in-three-years-at-this-northampton-town-centre-premises-where-did-it-all-go-wrong-5189298)
  • Rightmove (https://www.rightmove.co.uk/properties/166377581#/?channel=COM_BUY)