106 High Street, Redcar, North Yorkshire, TS10

Investment Considerations:
Gross Initial Yield: 10.33%
Rental Income: £11,880 p.a.
VAT is applicable to this property
Comprises large ground floor retail premises t/a Charity Shop (tenant not in occupation)
Situated in the heart of the town centre on the south side of High Street
Nearby occupiers include Iceland, Morrisons, B&M, The Works, Wilko, Costa Coffee.

Property Description:
Comprises large ground floor retail shop with benefit of rear vehicular access, providing the following accommodation and dimensions:
Ground Floor: 180 sq m (1,937 sq ft)
Open plan retail, storage, office, kitchenette, wc

Tenancy:
The property is at present let to Farplace Animal Rescue* for a term of 10 years from 20th August 2019 at a current rent of £11,880 per annum and the lease contains full repairing and insuring covenants. No breaks.
*Tenant NOT in occupation. Farplace Animal Rescue are an animal welfare charity that operate from 39 charity shops across the UK and have been established since 2008.

Tenure:
Long leasehold. To be held on a 999 Year lease from completion at a ground rent of peppercorn.

Location:
The property is situated in the heart of the town centre on the south side of High Street, close to Regent Walk Shopping Centre where retailers include Home Bargains and JD Sports. Other nearby occupiers of the High Street include Iceland, Morrisons, B&M, The Works, Wilko, Costa Coffee, Greggs, Sports Direct and WHSmith, amongst others.