Freehold Retail and Residential Investment
Freehold Retail and Residential Investment
The property is situated in a prominent corner position within a predominantly residential neighbourhood some 150 metres from the seafront and approximately 100 metres from Redcar East Railway Station.
Freehold.
The property is situated in a prominent corner position within a predominantly residential neighbourhood some 150 metres from the seafront and approximately 100 metres from Redcar East Railway Station.
Freehold.
The property comprises ground floor retail and ancillary accommodation. The first floor comprises a self-contained residential flat.
VAT is not applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises ground floor retail and ancillary accommodation. The first floor comprises a self-contained residential flat.
VAT is not applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
| Floor | Use | Site Area (Approx) | Tenant | Term | Rent p.a.x | Reviews | |
|---|---|---|---|---|---|---|---|
| Ground First |
Retail/Ancillary Residential |
128.57 sq m Not Measured |
(1,384 sq ft) Not Measured |
MARTIN McCOLL LIMITED (1) | 20 years from 16/11/2011 until 2031 on a full repairing and insuring lease (2) | £24,000 | 16/11/2016 and 5 yearly (fixed rental increases by 2% per annum compounded) |
| Totals | 128.57 sq m |
(1,384 sq ft) |
|||||
(1) For the year ending 25/11/2012, Martin McColl Ltd reported a turnover of £409,154,000, pre-tax profits of £19,671,000 and a total net worth of £115,863,000. (Source: www.riskdisk.com 17/09/2013)
(2) The lease provides for 5 yearly rent reviews with fixed rental increases at 2% per annum compounded.
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