Let to Indian takeway t/a Rhythm of Spices Indian Takeaway and Restaurant until 2035
3 yearly upward only rent reviews
Approx. 59.60 sq. m. (642 sq. ft.)
Situated within a well established local shopping precinct
Excellent road connections
Located adjacent to the 780 home Meadow Rise Housing Development
Lot 41
Auction 26th March 2026
Rent £7,000 per Annum Exclusive
Status Available
Guide* £68,500
Sector Retail, Takeaway
Auction Venue Live Streamed Auction
Property Information
Location
Miles
30 miles south of Newcastle-upon-Tyne, 4 miles west of Middlesbrough
Roads
A19, A66, A135, A1
Rail
Stockton Railway Station
Air
Teesside International Airport
Situation
The property is situated on the North side of High Newham Road within a well established shopping precinct in a prominently residential area and benefits from excellent communications. Nearby occupiers include Greggs, University Hospital of North Tees and a range of local businesses.
Tenure
Virtual Freehold. Held for a term of 999 years at a peppercorn ground rent.
Location
Miles
30 miles south of Newcastle-upon-Tyne, 4 miles west of Middlesbrough
Roads
A19, A66, A135, A1
Rail
Stockton Railway Station
Air
Teesside International Airport
Situation
The property is situated on the North side of High Newham Road within a well established shopping precinct in a prominently residential area and benefits from excellent communications. Nearby occupiers include Greggs, University Hospital of North Tees and a range of local businesses.
Tenure
Virtual Freehold. Held for a term of 999 years at a peppercorn ground rent.
Description
The property comprises a restaurant arranged on the ground floor and forms part of a larger retail parade with residential flats on the floors above, which are not included in the sale.
VAT
VAT is applicable to this lot.
Note
Units 14, 18, 22A & 22B and 24 are being offered separately as Lots 35, 36, 40 and 42.
Completion Period
8 week completion available.
EPC
Band C.
Description
The property comprises a restaurant arranged on the ground floor and forms part of a larger retail parade with residential flats on the floors above, which are not included in the sale.
VAT
VAT is applicable to this lot.
Note
Units 14, 18, 22A & 22B and 24 are being offered separately as Lots 35, 36, 40 and 42.
Completion Period
8 week completion available.
EPC
Band C.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Review
Ground
Retail
59.60
(642)
RHYTHM OF SPICES LTD with two personal guarantors (t/a Rhythm of Spices Indian Takeaway and Restaurant)
10 years from 15/03/2025 (1)
£7,000 (2)
15/03/2028 15/03/2031 15/03/2034 (3)
Total
59.60
(642)
£7,000
N.B. The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk). (1) The lease provides for a tenant option to determine the lease on the 14/03/2030. (2) A rent deposit of £2,100 is held by the Landlord. (3) The rent reviews are upward only, linked to RPI or Open Market Value, whichever is the greatest.
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.
