Let to Miss Selfridge Properties Limited until 2040
Prime retail position in the heart of the town centre
The property may benefit from residential development of the upper floors (Subject to Consents).
Neighbouring occupiers include Sports Direct, Caffe Nero, Goldsmiths, M&S, Tesco Express and Santander.
Lot 35
Auction 5th May 2021
Rent £174,000 per Annum Exclusive
Status Sold Prior
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
32 miles south of Newcastle upon Tyne
42 miles north of York
65 miles north of Leeds
Roads
A66, A19, A1 (M)
Rail
Middlesbrough railway station
Air
Durham Tees Valley Airport, Newcastle Airport
Situation
The property is prominently situated in a prime trading position on the east side of Linthorpe Road at its busy junction with Corporation Road and Newport Road. The property is located approximately 350 metres from the railway station, equidistant between the major Cleveland Shopping Centre and the Hill Street Shopping Centre. Neighbouring occupiers include Sports Direct, Caffe Nero, Goldsmiths, M&S, Tesco Express and Santander.
Tenure
Freehold.
Location
Miles
32 miles south of Newcastle upon Tyne
42 miles north of York
65 miles north of Leeds
Roads
A66, A19, A1 (M)
Rail
Middlesbrough railway station
Air
Durham Tees Valley Airport, Newcastle Airport
Situation
The property is prominently situated in a prime trading position on the east side of Linthorpe Road at its busy junction with Corporation Road and Newport Road. The property is located approximately 350 metres from the railway station, equidistant between the major Cleveland Shopping Centre and the Hill Street Shopping Centre. Neighbouring occupiers include Sports Direct, Caffe Nero, Goldsmiths, M&S, Tesco Express and Santander.
Tenure
Freehold.
Description
The property comprises a prominent corner period building comprising retail accommodation on the ground floor and part of the first floor and ancillary accommodation on the remaining part of the first floor, second and third floors. The tenant is not trading and the property is currently vacant and to let. The property may benefit from conversion of the upper floors to residential (Subject to consents).
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Band C. See legal pack.
Description
The property comprises a prominent corner period building comprising retail accommodation on the ground floor and part of the first floor and ancillary accommodation on the remaining part of the first floor, second and third floors. The tenant is not trading and the property is currently vacant and to let. The property may benefit from conversion of the upper floors to residential (Subject to consents).
MISS SELFRIDGE PROPERTIES LIMITED guaranteed by ARCADIA GROUP LIMITED(1)(2)
35 years from 24/08/2005 on full repairing and insuring lease
£174,000
(23/08/2040)
Totals
370.21 sq m
(3,984 sq ft)(3)
£174,000
(1) Both Miss Selfridge Properties Limited (CRN 00954960) now MS Propco Realisations Limited and Arcadia Group Limited (CRN 00237511) are in administration. The tenant is not trading and the property is currently vacant and to let. As the lease remains current the liability for business rates remains with the tenant. (2) The tenant is not currently in occupation and the administrators have the property on the market to let. (3) The floor areas stated above have been taken from the Valuation Office Agency website. www.voa.gov.uk
If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
