Milbank Terrace and 10 West Dyke Road, Redcar, North Yorkshire, TS10 1ED
- SIZE AVAILABLE
1,270 sq ft
118 sq m
- SECTOR
High street retail property for sale
Key features
- Mixed use investment property
- Ground floor hot food takeaway
- Ground floor retail unit
- 4 bedroom accommodation above
- Potential for £41,300 per annum
- Freehold title
Description
Investment opportunity comprising of a ground floor retail unit, a hot food takeaway unit, and four bedroom first floor accommodation which is ideally suited for contractor use.
The Hot Food Takeaway unit will have a passing rent of £800 per calendar month commencing September. The retail unit will have a passing rent of £475 per calendar month also commencing from September. Both of these leases have been agreed on fully repairing insuring terms, on a five year lease with no scheduled break clauses.
The first floor accommodation has been refurbished throughout to provide four bedroom and two bathroom accommodation, suited for the contractor rental market. We are informed by the vendors that the estimated rate is IRO of £125 per room per week.
Location
Central location adjacent to Redcar town clock and a short walk from Redcar train station. The sea front is also accessible from West Dyke Road. Surrounding occupiers include the Arriva bus station, cafes, bars and a variety of independent retailers.
Tenure
Freehold. Title number TES14397.
Council Tax
Band A.
Rateable Value
The current rateable value is £4,200 (1 April 2023 to present).
Sourced from VOA.
EPC
Both available upon request (ratings C and G).
Additional Information
For further information please contact our office direct on , or alternatively via e-mail on . With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.
Auctioneers Additional Comments
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.
Please be aware that any inquiry, bid or viewing of the subject property will require your details to be shared between both the marketing agent and The Auctioneer in order that all matters can be dealt with effectively.
This auction lot is being sold either by, conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.
The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via The Auctioneers or the Marketing Agents website.
Auctioneers Additional Comments
Your details may be shared with additional service providers via the marketing agent and/or The Auctioneer.
A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers' obligations and sellers' commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification and identity process in accordance with Anti Money Laundering procedures.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit of 5% of the purchase price of the lot subject to any special conditions detailed in the legal pack. The deposit will be a contribution to the purchase price. A non-refundable reservation fee may also be payable upon agreement of sale (Details of which can be obtained from the auctioneers website). The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.
Both the Marketing Agent and The Auctioneer may believe it necessary or beneficial to the customer to pass your details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.
Brochures
Milbank Terrace and 10 West Dyke Road, Redcar, North Yorkshire, TS10 1ED
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Redcar Central Station0.1 miles
- Redcar East Station0.9 miles
- British Steel Redcar Station1.8 miles
Notes
Disclaimer - Property reference 461918. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Pattinsons, Pattinsons Commercial North East. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Pattinsons, Pattinsons Commercial North East on 0191 743 9260.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a Guide Price or a range of Guide Prices. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a Reserve Price below which the property cannot be sold at auction. Normally the Reserve Price will be set within the range of Guide Prices or no more than 10% above a single Guide Price.
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