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Commercial Property for sale

Yarm Road, Stockton-On-Tees, Cleveland, TS18

Sold STC £230,000
315 sq. m.

Property Description

Commercial information

  • Business for sale
  • 3,390 sq ft (315 sq m)

Key features

  • FREEHOLD
  • REF 13417

Full description

Tenure: Freehold

LOCATION
This superb investment opportunity is located in the historic market town of Stockton-on-Tees in County Durham.

The property is located in a prime location within a commercial area of the town and is situated on an arterial road running towards the vibrant town centre. Castlegate Shopping Centre, the prestigious Teeside Retail Park and Durham University Queens Campus are all in the vicinity. There is a large supermarket and bus stop within walking distance and the property benefits from ample private parking.

Stockton-on-Tees has excellent public transport links and the property is located on a busy bus route and the town is served by a mainline train station. The town sits on the River Tees and is just a short commute to the adjacent town of Middlesbrough. The area is served by the A66 and A19 which provides easy access to Tyneside to the north and connection to the A1 in the south.

INVESTMENT PROPERTY
This prime Freehold 3 storey mid terrace premise is in a superb location and is currently arranged as a fully operational business centre.

The property is well maintained and all offices have Cat5 points, broadband entry points and a full telephone system. All services are included in the rent paid to the current owner. Tenants range from 12 months to 9 years in occupancy and pay rent ranging from 75-300 per month depending on the size of the offices.

We believe a new owner may wish to review and increase the rent to generate additional income. Our client has owned the premise since 2008 and the property genuinely comes to the market as our client looks towards retirement.

Early viewing of this first-rate investment opportunity is highly recommended.
PREMISES
Entrance
The front of the building has a private car park with parking for around 8 cars. The main door has a buzzer entry intercom system with individual access for each of the 9 offices.

Rear of building
The rear of the building has a private car park for up to 8 cars and fire escape access to the rear of the ground floor.

Ground Floor
The ground floor of the building is made up of 3 offices, a meeting room, communal kitchen and a toilet.

First Floor
The first floor has 5 offices and a toilet.

Second Floor
The top floor has one large office.

The building has a monitored alarm system and smoke alarms throughout. The front flat roof is new, and the building enjoys upvc double glazing throughout.

Communal area furniture is included in the sale, all office furniture is the property of the tenants

Office Dimensions:-
Ground floor front: 5 x 4m 215 sq ft
Ground floor front - inner: 4 x 3.5m
Ground floor mid rear: 3.5 x 3m 113sq ft
Ground floor rear: 7 x 4m 301 sq ft
First floor small front: 3 x 2m 64 sq ft
First floor front: 4 x 4m 172 sq ft
First floor 2nd front: 4 x 4.5m 194 sq ft
First floor mid rear: 4 x 3 m 129 sq ft
First floor rear: 8 x 4m 344sq ft
Second floor main office: 3.5m x 4 m; kitchen area: 4 x 1.5m 215 sq ft

TENURE
We are advised Freehold.

HOURS
N/A

STAFF
N/A

FINANCIAL
The business yields a rental income of around 24,000 per annum.

In addition, the business generates a consistent and variable revenue from the internal telephone system, as each tenant is billed for their calls. This call rate can be set/changed by the new owner as the system is included in the sale.


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