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Retail Property (high street) for sale

Linthorpe Road, Middlesbrough, Cleveland, TS1

£1,200,000
1,030–2,329 sq. ft.

Property Description

Commercial information

  • 1,030 sq ft (95 sq m)
  • Use class orders: A1 Shops

Key features

  • INVESTMENT FOR SALE

Full description

INVESTMENT SUMMARY
100% Prime Pitch in Linthorpe Road Middlesbrough
Rents rebased and considered reversionary
Let to 2 strong regional covenants plus 125 ground lease on uppers sold off on Long Leasehold
Total net income 98,000 pax
We are instructed to seek offers of 1,200,000 (One Million & Two Hundred Thousand Pounds), subject to contact and exclusive of VAT.
A purchase at this level reflects an attractive Net Initial Yield of 7.49% assuming standard Purchaser's costs of 5.92%. The property is elected for VAT which will therefore be payable on the purchase price. It is envisaged that the sale will be treated as a Transfer Of a Going Concern (TOGC).

LOCATION
Middlesbrough is a sub-regional centre and the principal administrative centre of the Teesside
conurbation, combining Stockton, Thornaby and Redcar. Middlesbrough is the third biggest retail shopping centre in the North East with over 1.7m Sq ft of retail floor space. It is the retail heart of the Tees Valley.

The town is located approximately 40 miles South of Newcastle, 12 miles East of Darlington and 52 miles North of York. The town has a population of 138,900 (Middlesbrough Council 2016) with Teesside having a population of 662,600.

Middlesbrough has good road and rail communications, with the A66 dual carriageway linking to the regions primary North/South arterial routes, the A19 and the A1(M). Middlesbrough has direct rail links to Darlington situated on the East Coast Mainline, which has a journey time to London King's Cross of approximately 2.5 hours. Durham Tees Valley airport is situated approximately 10 miles to the South-West of the town.


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