7-9 Queen Street Redcar Cleveland TS10 1DY

  • 7-9 Queen Street<br>Redcar<br>Cleveland<br>TS10 1DY

7-9 Queen Street
Redcar
Cleveland
TS10 1DY

Freehold Retail and Residential Investment

  • Ground floor let to Pertemps People Development Group Limited
  • Four x 1 bedroom flats on upper floors let out on ASTs
  • Prominent position on Queen Street which is linked to the pedestrianised High Street to the east
  • Nearby occupiers include HSBC Bank, Barclays Bank, Holland & Barrett and William Hill Betting Office
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    44
  • Auction
    26th March 2015
  • Rent
    £47,220 per Annum Exclusive
  • Status
    Sold
  • Price
    £273,000
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of Joint LPA Receivers
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Freehold Retail and Residential Investment

  • Ground floor let to Pertemps People Development Group Limited
  • Four x 1 bedroom flats on upper floors let out on ASTs
  • Prominent position on Queen Street which is linked to the pedestrianised High Street to the east
  • Nearby occupiers include HSBC Bank, Barclays Bank, Holland & Barrett and William Hill Betting Office
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 44
  • Auction 26th March 2015
  • Rent £47,220 per Annum Exclusive
  • Status Sold
  • Price £273,000
  • Sector
    High Street Retail
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of Joint LPA Receivers

Property Information

Location
Miles
6 miles east of Middlesborough, 9 miles north of Guisborough, 25 miles east of Darlington
Roads
A1065, A66, A19
Rail
Redcar Central Railway Station
Air
Durham Tees Valley International Airport
Situation

The property is situated in a prominent location on the southern side of Queen Street, just west of the main High Street retail pitch. Nearby occupiers include HSBC Bank, Barclays Bank, Holland &
Barrett and William Hill Betting Office.

Tenure

Freehold.

Location
Miles
6 miles east of Middlesborough, 9 miles north of Guisborough, 25 miles east of Darlington
Roads
A1065, A66, A19
Rail
Redcar Central Railway Station
Air
Durham Tees Valley International Airport
Situation

The property is situated in a prominent location on the southern side of Queen Street, just west of the main High Street retail pitch. Nearby occupiers include HSBC Bank, Barclays Bank, Holland &
Barrett and William Hill Betting Office.

Tenure

Freehold.

Description

The property comprises a ground floor retail unit, with 4 selfcontained one bedroom flats on the first and second floors. The flats have self-contained access off Queen Street.

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.

Note

This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act
Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

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 4 selfcontained one bedroom flats on the first and second floors. The flats have self-contained access off Queen Street.

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.

Note

This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act
Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

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 Retail
235 sq m
(2,529 sq ft)
 PERTEMPS PEOPLE DEVELOPMENT GROUP LIMITED (1) 5 years from 16/11/2011 on a full repairing and insuring lease £33,000 15/11/2016
First/Second Residential – Flat A
1 Bedroom Flat
 INDIVIDUAL 12 month AST from 12/12/2013 (2) £3,600 11/12/2014 (2)
Residential – Flat B
1 Bedroom Flat
 INDIVIDUAL 12 month AST from 16/12/2014 £3,540 15/12/2015
Residential – Flat C
1 Bedroom Flat
 INDIVIDUAL 12 month AST from 13/12/2014 £3,540 12/12/2015
Residential – Flat D
1 Bedroom Flat
 INDIVIDUAL 6 month AST from 21/11/2014 £3,540 20/05/2015
Totals  
235 sq m
(2,529 sq ft)
     £47,220 (3)

(1) Pertemps People Development Group, established in 1997, assists in getting the long-term unemployed into sustained employment.
PPDG has more than 40 centres across the UK and employs around 800 staff. (Source: http://www.ppdg.co.uk 19/02/2015)
(2)The tenant of Flat A is holding over. A new lease is due to be completed imminently.
(3)The rent for the residential flats has been annualised.

Contacts

Acuitus
Henry WilkinsonHenry Wilkinson +44 (0)20 7034 4861 Henry.wilkinson@acuitus.co.uk
Seller's Solicitors
Sintons LLP The Cube, Barrack Rd
Newcastle upon Tyne
NE4 6BD
Emma Gilboy 0191 226 7847emma.gilboy@sintons.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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