Freehold Convenience Store and Residential Investment
Shop let to Co-Operative Group Food Limited until 2027
Includes a Post Office within the Property
Includes 3 x two bedroom flats let on Assured Shorthold Tenancies
Six Week Completion
Lot 24
Auction 23rd May 2013
Rent £51,200 per Annum Exclusive
Status Sold
Price £630,000
Sector Supermarket
Auction Venue The Dorchester Hotel Park Lane Entrance Mayfair London W1K 1QA
Property Information
Location
Miles
3.5 miles south of Middlesbrough city centre, 48 miles north of York
Roads
A19, A174, A1044
Rail
Middlesbrough Railway Station
Air
Newcastle Airport
Situation
Middlesbrough is the major town within the Teesside conurbation and the property is situated in Brookfield, a popular residential suburb approximately 3.5 miles south of the town centre. The property is situated within an established parade.
Tenure
Freehold.
Location
Miles
3.5 miles south of Middlesbrough city centre, 48 miles north of York
Roads
A19, A174, A1044
Rail
Middlesbrough Railway Station
Air
Newcastle Airport
Situation
Middlesbrough is the major town within the Teesside conurbation and the property is situated in Brookfield, a popular residential suburb approximately 3.5 miles south of the town centre. The property is situated within an established parade.
Tenure
Freehold.
Description
The property comprises a ground floor convenience store, and three self-contained two bedroom flats on the first floor. The ground floor of the property is formed from three smaller retail units combined to create one large retail premises which benefits from a post office counter. The residential flats are accessed separately from the rear and side of the property.
VAT
VAT is not 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 convenience store, and three self-contained two bedroom flats on the first floor. The ground floor of the property is formed from three smaller retail units combined to create one large retail premises which benefits from a post office counter. The residential flats are accessed separately from the rear and side of the property.
VAT
VAT is not 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
Reviews
Ground
Retail
345.65 sq m
(3,721 sq ft)
CO-OPERATIVE GROUP FOOD LIMITED (1)
15 years from 03/10/2012 until 2027 on a full repairing and insuring lease
£36,000
2017 and 5 yearly
First
Residential – Three x Two Bedroom Flats
INDIVIDUALS
Let on Assured Shorthold Tenancies
£15,200
Totals
345.65 sq m
(3,721 sq ft)
£51,200
(1) Co-Operative Group Food Limited (IP26715R) are a subsidiary company of Co-Operative Group Limited, the UK’s largest mutual business. The Group operates 4,800 retail trading outlets and employs more than 106,000 people. (Source: www.co-operative.co.uk) For the year ending 31st December 2011, Co-Operative Group Limited reported a turnover of £12,318,000,000, pre-tax profits of £231,000,000 and a net worth of £3,501,000,000. (Source: www.riskdisk.com)
