Attractive town centre building let on a recent lease
Located on the busy Corporation Road off the prime retail thoroughfare of Linthorpe Road
Some 25 metres from The Cleveland Centre (Middlesbrough’s largest shopping centre)
Nearby occupiers include Tesco Express, Barclays, BHS and Dorothy Perkins
For the Seller's Legal Pack, please click the Property Documents tab below
For a Buyer's Legal Report please click <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
Lot 69
Auction 11th February 2016
Rent £13,000 per Annum Exclusive
Status Sold
Price £141,000
Sector High Street Retail
Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
15 miles east of Darlington, 23 miles south-east of Durham, 27 miles south of Sunderland
Roads
A66, A19, A174
Rail
Middlesbrough Rail
Air
Durham Tees Valley International Airport
Situation
The property occupies a prominent position on Corporation Road, close to its junction with the pedestrianised thoroughfare of Linthorpe Road. The property lies diagonally opposite an entrance to The Cleveland Centre, Middlesbrough’s largest shopping centre, and within in a short walk of Middlesbrough Hill Shopping Centre and Dundas Shopping Mall. Other nearby occupiers include Tesco Express, Barclays, BHS and Dorothy Perkins.
Tenure
Freehold.
Location
Miles
15 miles east of Darlington, 23 miles south-east of Durham, 27 miles south of Sunderland
Roads
A66, A19, A174
Rail
Middlesbrough Rail
Air
Durham Tees Valley International Airport
Situation
The property occupies a prominent position on Corporation Road, close to its junction with the pedestrianised thoroughfare of Linthorpe Road. The property lies diagonally opposite an entrance to The Cleveland Centre, Middlesbrough’s largest shopping centre, and within in a short walk of Middlesbrough Hill Shopping Centre and Dundas Shopping Mall. Other nearby occupiers include Tesco Express, Barclays, BHS and Dorothy Perkins.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with first and second floor ancillary accommodation.
Six Week Completion
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor retail unit with first and second floor ancillary accommodation.
Six Week Completion
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
Ground First Second
Retail Ancillary Ancillary
56.90 sq m 53.30 sq m 26.90 sq m
(612 sq ft) (573 sq ft) (289 sq ft)
INDIVIDUAL (t/a E-Cigarette King)
5 years from 25/09/2015
£13,000
24/09/2020 (1)
Totals
137.10 sq m
(1,474 sq ft)
£13,000
(1) The lease provides an option to determine on 25th September 2018. (2) For the purpose of clarification, the current rent is £11,700 pa increasing to £13,000 pa on 25th September 2016. The seller has agreed to adjust the completion monies so that the unit will effectively produce £13,000 p.a.x. from completion of the sale.
