47-49 Linthorpe Road Middlesbrough Cleveland TS1 5BS

47-49 Linthorpe Road
Middlesbrough
Cleveland
TS1 5BS

Freehold Retail Investment with Self-Contained Vacant Upper Floors

Tenants include Phones 4U Limited and Collectables Retail Limited
Future Redevelopment Opportunities (subject to consents)
Prime position opposite The Mall Shopping Centre
Nearby occupiers include House of Fraser, BHS, Deichmann Shoes, River Island, Vodafone and Starbucks
Six Week Completion
Unit 47 Highly Reversionary – currently on temporary let

Lot
56
Auction
11th July 2013
Rent
£82,000 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On behalf of a Major Fund

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Freehold Retail Investment with Self-Contained Vacant Upper Floors

Tenants include Phones 4U Limited and Collectables Retail Limited
Future Redevelopment Opportunities (subject to consents)
Prime position opposite The Mall Shopping Centre
Nearby occupiers include House of Fraser, BHS, Deichmann Shoes, River Island, Vodafone and Starbucks
Six Week Completion
Unit 47 Highly Reversionary – currently on temporary let

Lot 56
Auction 11th July 2013
Rent £82,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector
High Street Retail
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On behalf of a Major Fund

Property Information

Location

Miles: 39 miles south of Newcastle upon Tyne, 66 miles north of Leeds
Roads: A66, A19
Rail: Middlesbrough Rail
Air: Durham Tees Valley Airport, Newcastle Airport

Situation

The property is situated in a prime location on the western side of Linthorpe Road, one of Middlesbrough’s main retailing thoroughfares. The Mall Shopping Centre lies directly opposite, housing retailers such as Boots, Topshop, New Look, H&M and WH Smith.
Other nearby occupiers include House of Fraser, River Island, Miss Selfridge and Debenhams.

Tenure

Freehold.

Location

Miles: 39 miles south of Newcastle upon Tyne, 66 miles north of Leeds
Roads: A66, A19
Rail: Middlesbrough Rail
Air: Durham Tees Valley Airport, Newcastle Airport

Situation

Tenure

Freehold.

Description

The property comprises two retail units with basement storage accommodation and a self-contained former nightclub/bar on first and second floors, accessed from Linthorpe Road.

VAT

VAT is applicable to this lot.

EPC

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

Description

The property comprises two retail units with basement storage accommodation and a self-contained former nightclub/bar on first and second floors, accessed from Linthorpe Road.

VAT

VAT is 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	Reversion
Ground Basement	Retail Storage	103.77 sq m 62.52 sq m	(1,117 sq ft) (673 sq ft)	PHONES 4U LIMITED (4) guaranteed by Caudwell Subsidiary Holdings Limited	20 years from 01/11/1999 (5)	£70,000	01/11/2014 (31/10/2019)
Ground Basement	Retail Storage	98.28 sq m 66.25 sq m	(1,058 sq ft) (713 sq ft)	COLLECTABLES RETAIL LIMITED (1) t/a Wicked Wax	1 year from 01/11/2012 (2) (3)	£12,000	(31/10/2013)
First Second	Former Bar/Nightclub Former Bar/Nightclub	339 sq m 339 sq m	(3,650 sq ft) (3,650 sq ft)	VACANT POSSESSION
Totals		1,008.82 sq m	(10,861 sq ft)			£82,000

(1) For the year ending 31st January 2012, Collectables Retail Limited reported a turnover of £9,618,252, pre-tax profits of £58,759 and a total net worth of £2,735,107. (Source: www.riskdisk.com 11/06/2013)
(2) The lease provides a mutual rolling option to determine upon giving 1 months notice.
(3) The lease is subject to a schedule of condition.
(4) For the year ending 31st December 2011, Phones 4U Limited reported a turnover of £773,305,000, pre-tax profits of £113,427,000 and a total net worth of £303,386,000. (Source: www.riskdisk.com 11/06/2013)
(5) For the purposes of clarification, Phones 4U Limited are currently benefiting from a rent free period due to expire on 20th December 2013. The seller has agreed to adjust the completion monies so that the unit will effectively produce £70,000 p.a.x. from completion of the sale.