Hartington Road, Stockton, Stockton-on-Tees, Durham, TS18 1HE
- SIZE
Ask agent
- SECTOR
High street retail property for sale
Key features
- Excellent Investment opportunity over 12% Gross Yield Potential
- Close To High Street/ Public Transport
- One Good Long Standing Tenant
- Potential For An Additional or Extended Unit
Description
We are pleased to offer to auction this mixed use premises, situated on the well located Hartington Road. The property comprises of a ground floor retail unit formally used as a shop. In addition to the retail unit, there are 2 two first floor apartments. In addition there is a large store room facility on the first floor to the rear of the property which with the relevant permissions could be made into an additional flat, office or one could even extend the retail property into this area. The flat has previously been rented for £350 per calendar month which would achieve £400 and one of the flats is tenanted with a long standing tenant and another in need of some light updating in order to relet which within minimal spend would both relet for over £400 per cal month.
Terrific investment opportunity with potential rental yield £1200 per cal month £14.400 per year representing a gross yield of 12.4%. The first floor flat and shop are being offered with vacant possession. The income yield would increase significantly further if the rear store room was converted into a separate unit
An early viewing is strongly advised to avoid disappointment.
PRIMARY SERVICES SUPPLY
Electricity: mains
Water: mains
Sewerage: mains
Heating: mains
Broadband: fibre
Mobile Signal Coverage Blackspot: no
Parking: On street
MINING
The property is not known to be on a coalfield and not known to be directly impacted by the effect of other mining activity. The North East region is famous for its rich mining heritage and confirmation should be sought from a conveyancer as to its effect on the property, if any.
TENURE
Freehold
COUNCIL TAX BAND FLATS: A
Location
The subject property is located along Hartington Road, situated within a sought after location and is ideally located close to transport links and local amenities to include shops and schools.
Accommodation
The accommodation briefly comprises:- To the ground floor- retail unit with cloakroom WC; entrance hallway leading to large storage room (with separate external access) and stairs to first floor apartments. To the first floor:-flat 1, two bedrooms, hallway, bathroom and through lounge/kitchen. To the second apartment, lounge, kitchen, bathroom, rear hallway and 3 bedrooms.
Tenure
Freehold. Title CE58172 for 90 Hartington Road, Flat 1 90 Hartington Road, and Flat 2 90 Hartington Road, Stockton -On -Tees TS18 1HE
Ratable value
The current rateable value is £4,250 (1 April 2023 to present).
Council Tax
Band A
EPC
Available upon Request
Lease Details
We are advised that the tenant in the salon was previously paying £350pcm although he has now vacated. Flat 2 has an AST and are paying £350 per calendar month. Flat one is vacant
Further 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 referred to below as The Auctioneer. This auction lot is being sold under either conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between any marketing agent and The Auctioneer so that all matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid on any property marketed by The Auctioneer, all bidders buyers must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere. Our verification process is in place to ensure AML procedures are carried out in accordance with the law
Auctioneers Additional Comments
The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and the auctioneer and will typically be within a range above or below 10% of the Guide Price , Starting Bid. These prices are subject to change. An auction can be closed at any time with the auctioneer permitting for the property (the lot) to be sold prior to the end of the auction. 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.
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 equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and the Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.
Brochures
Hartington Road, Stockton, Stockton-on-Tees, Durham, TS18 1HE
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Stockton Station0.6 miles
- Thornaby Station0.8 miles
- Eaglescliffe Station2.5 miles
Notes
Disclaimer - Property reference 480873. 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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