44 Catcote Road
Hartlepool
County Durham
TS25 4HG

Freehold Retail and Residential Investment

  • Let to Coral Racing Ltd until 2027 (no breaks)
  • Includes self-contained flat
  • 2021 Rent Review minimum 2.5% pa compound uplift
  • Neighbouring occupiers include Spar, One Stop, Pizza Hut and an eclectic mix of local traders
  • Lot
    46
  • Auction
    12/Feb/2020
  • Rent
    £15,840 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    Marble Arch
    London W1H 7TN
  • 44 Catcote Road<br>Hartlepool<br>County Durham<br>TS25 4HG
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  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
10 miles north of Middlesborough
18 miles south-east of Durham
Roads
A179, A689, A1
Rail
Hartlepool Train Station
Air
Newcastle International Airport
Situation

The property is prominently situated on the west side of Catcote Road, approximately a mile and a half south-west of Hartlepool town centre. Neighbouring occupiers include Spar, One Stop, Pizza Hut and an eclectic mix of local traders.

Tenure

Freehold.

Description

The property comprises ground floor retail accommodation and a self-contained first floor residential flat.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

Available from the legal pack at acuitus.co.uk.

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReview/
(Reversion)
Ground
First
Retail
Residential
104.55 sq m
(1,125 sq ft)
Self-contained flat
CORAL RACING
LTD (1)
16 years from
03/02/2011 on a
full repairing and
insuring lease (2)
£15,84025/03/2021
minimum 2.5%
p.a. Compounded
uplift.
(02/02/2027)
Total CommercialFloor Area
104.55 sq m
(1,125 sq ft)
  £15,840 

(1) For the year ending 31st December 2017, Cora Racing Limited reported a turnover of £598,371,000, pre-tax profits of £7,642,000 and a total net worth of £75,914,000 (Source: Experian Group 07/01/2020).
(2) The lease provides for a rent review in March 2021 to either a minimum of 2.5% per annum compounded or open market rental value. The rent will therefore rise to a minimum of £17,921.51 per annum upon review.

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Site Plan
    Updated Date
    22.01.20
    File Size
    538 KB
    View PDF
  • Catalogue Page
    Updated Date
    22.01.20
    File Size
    533 KB
    View PDF
  • Common Auction conditions
    Updated Date
    01.07.20
    File Size
    277 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    15.09.20
    File Size
    57 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854billy.struth@acuitus.co.uk
Seller's Solicitors
Grove Tompkins Bosworth 54 Newhall Street
Birmingham
West Midlands
B3 3QG
Matthew Hann 0121 236 9341matt@gtb-solicitors.com

Useful Links

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