Barclays Bank, 144-148 Regent House, York Road Hartlepool County Durham TS26 9DU

  • Barclays Bank, 144-148 Regent House, York Road<br>Hartlepool<br>County Durham<br>TS26 9DU

Barclays Bank, 144-148 Regent House, York Road
Hartlepool
County Durham
TS26 9DU

Freehold Mixed-Use Investment Opportunity

  • Comprises a Banking Hall / Retail, a Café, an Office and a Dance School Studio
  • Tenants include Barclays Bank PLC, KLSD Community Ventures CIC (t/a The Dancing Cup home of Tastebuds Kitchen) and KLSD CIC (t/a Karen Liddle School of Dance)
  • 200m from Middleton Grange Shopping Centre
  • Nearby Occupiers include New Look, Primark, B&M, Domino's, Home Bargains, JD Gyms and H.Samuel
  • Lot
    32
  • Auction
    7th November 2024
  • Rent
    £67,495 per Annum Exclusive
    rising to £68,551 per Annum Exclusive (4)
  • Status
    Available
  • Guide*
    £475,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • Expand
  • Photos
  • Map

Freehold Mixed-Use Investment Opportunity

  • Comprises a Banking Hall / Retail, a Café, an Office and a Dance School Studio
  • Tenants include Barclays Bank PLC, KLSD Community Ventures CIC (t/a The Dancing Cup home of Tastebuds Kitchen) and KLSD CIC (t/a Karen Liddle School of Dance)
  • 200m from Middleton Grange Shopping Centre
  • Nearby Occupiers include New Look, Primark, B&M, Domino's, Home Bargains, JD Gyms and H.Samuel
  • Lot 32
  • Auction 7th November 2024
  • Rent £67,495 per Annum Exclusive rising to £68,551 per Annum Exclusive (4)
  • Status Available
  • Guide* £475,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction

Property Information

Location
Miles
17 miles south-east of Durham, 20 miles north-east of Darlington
Roads
A19, A179, A689
Rail
Hartlepool Railway Station
Air
Durham Airport
Situation

Hartlepool is a port town and administrative centre of County Durham, approximately 17 miles south-east of Durham and 20 miles north-east of Darlington. The property is situated on a prominent corner position at the junction of Park Road and York Road, 200m from the entrance to Middleton Grange Shopping Centre. Nearby occupiers include New Look, Primark, B&M, Domino's, Home Bargains, JD Gyms and H.Samuel.

Tenure

Freehold.

Location
Miles
17 miles south-east of Durham, 20 miles north-east of Darlington
Roads
A19, A179, A689
Rail
Hartlepool Railway Station
Air
Durham Airport
Situation

Hartlepool is a port town and administrative centre of County Durham, approximately 17 miles south-east of Durham and 20 miles north-east of Darlington. The property is situated on a prominent corner position at the junction of Park Road and York Road, 200m from the entrance to Middleton Grange Shopping Centre. Nearby occupiers include New Look, Primark, B&M, Domino's, Home Bargains, JD Gyms and H.Samuel.

Tenure

Freehold.

Description

The property comprises a substantial former banking hall on the basement, ground and part-first floor; a café on the ground floor and a dancing school studio on part first and the second floor.

The property benefits from car parking to the rear with approximately 8 spaces.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a substantial former banking hall on the basement, ground and part-first floor; a café on the ground floor and a dancing school studio on part first and the second floor.

The property benefits from car parking to the rear with approximately 8 spaces.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Address Floor Use Floor Areas
Approx sq m
Floor Areas
Approx sq ft
Tenant Term Rent p.a.x. Reversion
148 Regent House Basement
Ground
First -part
Ancillary
Former-Bank
Office
56.78
196.29
144.46
(611)
(2,113)
(1,555)
BARCLAYS BANK PLC (CRN: 01026167)(1)
(Not currently in occupation)
20 years from 27/04/2007
£39,000
26/04/2027
144-146 Regent House Ground Café
97.03
(1,044)
KLSD COMMUNITY VENTURES CIC (t/a The Dancing Cup home of Tastebuds Kitchen) (CRN: 12586707) 6 years from 24/06/2020
£17,000 (2)
23/06/2026
144-148 Regent House First (part) and
Second
Leisure
333.55
(3,589)
KLSD CIC (CRN: 09724209 (t/a Karen Liddle School of Dance)) with personal guarantees(3) 15 years from 18/09/2018 with tenant option to extend (4)
£11,495 rising to £12,551 (4)
17/09/2033
Total Approximate Floor Area    
897.91
(9,663)
   
£67,495 rising to £68,551 (2)(4)
 

(1) For the year ending 31/12/2023 Barclays Bank Plc reported a Turnover of £39,123,000,000 a Pre-Tax Profit of £4,223,000,000 and a Net Worth of £59,420,000,000 (NorthRow 19/06/2023)
(2) Due to re-negotiations after the pandemic, the tenant is currently paying £11,400 per annum exclusive. However, this has not been formally documented.
(3) Established in 1987, Karen Liddle School of Dance is an inclusive, not for profit, community oriented dance school in Hartlepool (www.klsd.co.uk)
(4) As to the part first and second floors, the lease benefits from a stepped rent as follows: £11,495 per annum exclusive from 18/09/2022 to 17/09/2027, £12,069 per annum exclusive from 18/09/2027 to 17/09/2032 and £12,551 per annum exclusive from 18/09/2032 to 17/09/2033. The lease also provides for a tenant option to extend the lease for a term of 99 years, subject to agreeing lease terms.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    04.11.24
    File Size
    42 MB
    Login to View
  • Brochure
    Updated Date
    04.11.24
    File Size
    3 MB
    View PDF
  • Common Auction conditions
    Updated Date
    20.05.24
    File Size
    620 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Edward MartinEdward Martin +44 (0)20 7034 4854 +44 (0)7478 673 535edward.martin@acuitus.co.uk
Seller's Solicitors
3rd Floor, Guardian House Cronehills Linkway
West Bromwich
B70 8GS
Adnan Rafiq 0121 553 2576adnan.rafiq@cbtcsolicitors.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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