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Wellington Street, Stockton-On-Tees, Durham, TS18

£82,500

£55.18 per sq ft

Business rates & charges may apply

Thomas : Stevenson, Middlesbrough
SIZE AVAILABLE

1,495 sq ft

139 sq m

SECTOR

High street retail property for sale

USE CLASSUse class orders: Class E

E

Key features

  • Income of £7,500 per annum
  • Established location
  • Prime retail unit
  • 5 year term expiring October 2026

Description

Location

The property is situated in a prime position on the north side of Wellington Street located between the principal shopping areas of Wellington Square and Stockton High Street.

This is a central location popular with both local, regional and national retailers and nearby occupiers include; Thirteen Group, CeX, Vision 25, Max Spielman, Barclays Bank and Heron Foods.

Wellington Street has heavy footfall due its position between Wellington Square Car Park and the main public transport links of the town centre.

Description

The property comprises a mid-terraced, two storey, building arranged to provide a ground floor retail unit together with integral ancillary accommodation at first floor level.

Previously occupied by Newboulds Butchers, for a number of years, the property is now let as a health store and benefits from dumbwaiter and first floor cold store.

Accommodation
The property provides the following accommodation approximately:

Ground Floor
Sales Area: 73.52 sq m ( 791 sq ft)

First Floor
Various Store Rooms: 65.42 sq m ( 704 sq ft)
Wc's

Total: 138.94 sq m ( 1,495 sq ft)

TENURE

The property is let to Protein Superstore on Full Repairing and Insuring terms at an annual rent of £7,500 per annum exclusive for a period of 5 years expiring 30 October 2026. The tenant has been in occupation at the property since 2016 and renewed the lease from 2021.

A copy of the lease is available on request.

PROPOSED TERMS

Offers are invited in the region of £82,500 for the freehold interest subject to the existing lease which would show a purchaser a gross initial yield of 9.1%.

BUSINESS RATES

The property has a Rateable Value of £7,600 and therefore qualifies for Small Business Rates relief. To determine the exact rates payable we would advise getting in contact with Stockton Borough Council.

LEGAL COSTS

Each party will be responsible for their own legal costs in connection with the transaction.

ENQUIRIES

All enquiries and viewing arrangements are to be directed through Thomas Stevenson.

Contact Jack Robinson

VIEWING

Viewings can be arranged by contacting Thomas : Stevenson direct.

Subject to Contract.

Brochures

Wellington Street, Stockton-On-Tees, Durham, TS18

Approximate location

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Stockton Station0.3 miles
  • Thornaby Station0.7 miles
  • Eaglescliffe Station2.9 miles

About Thomas : Stevenson, Middlesbrough

Wellington House Wellington Court Preston Farm Business Park Stockton-On-Tees TS18 3TA

Thomas : Stevenson was established in January 2004 by Neil Thomas and Paul Stevenson two well known Chartered Surveyors within the North East commercial property industry.

Focusing on Commercial Property Consultancy Thomas : Stevenson primarily deal with shops, offices, industrial property and land. Our team has over 40 years combined experience at a senior level and specialises in the Teesside, North Yorkshire and wider north east commercial property markets.

We have a proven track record in all aspects of the commercial property market including Sales & Lettings, Acquisitions, Investment Property, Valuations, Rent Reviews & Lease Renewals, Property Management, Property Development and Compulsory Purchase Negotiations.

Thomas : Stevenson act on behalf of a wide range of clients including private individuals, local businesses, property companies, banks and building societies, retailers, investors, developers and public sector bodies.

Our aim is to provide an accessible, responsive and personal service. All instructions are dealt with at partner level and clients are able to contact the partner dealing with their case at any time by email and by calling our office or mobile numbers. We value your business and yes – we do return calls!

Notes

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