LOCATION

The property is located within the town of Stockton on Tees, which is situated 3 miles west of Middlesbrough, 9.5 miles south-west of Hartlepool and 10 miles east of Darlington.

Situated just 0.3 miles north-east of Stockton town centre and adjacent the west end of Portrack Lane, Sign House holds a prominent roadside position on Baltic Road, 100m north of the major Riverside/A1305 junction which provides access to the wider Teesside area via the A19 and A66 to the east.

The surrounding locality is in mixed commercial use with nearby occupiers being an assortment of retail, leisure and industrial businesses. Established occupiers in the vicinity include Peugeot Simon Bailes Stockton, Halfords, Farm Foods, Hampton by Hilton and Stockton Borough Council.

This area of Stockton is currently undergoing major renovation with the development of Stockton Waterfront - an ambitious urban park and event space offering flexible spaces for community and large-scale events.

DESCRIPTION
The property comprises a detached two storey building, formerly occupied as a working mans club, but converted and redeveloped to provide a ground floor showroom/workshop and first floor residential accommodation.

The ground floor, which is currently occupied by N-Sign Limited, is arranged to provide a ground floor workshop and showroom. The residential element is arranged to provide 3 x 5 bedroom flats and 1 x 3 bedroom flat.

The ground floor accommodation is configured to provide a sales area/showroom, workshop, warehouse, ancillary offices, print shop, and stores together with ancillary staff rooms/kitchen facility and separate male and female w.c's.

The first floor is arranged to provide 4 residential flats each configured to provide a communal kitchen/living/dining area together with shower/bath rooms. Each tenant also has access to a communal games/common room on the first floor.

Externally the premises benefit from partially covered parking for approximately 12 vehicles and on-site loading bay to the rear accessed by Baltic Close.

ACCOMMODATION

The property has the following approximate areas:

Ground Floor
Offices, Workshops,
Stores and Loading Bay: 700 sq m 7,534 sq ft

First Floor
Flat 1: 140 sq m 1,507 sq ft
Flat 2: 133 sq m 1,431 sq ft
Flat 3: 138 sq m 1,485 sq ft
Flat 4: 140 sq m 1,507 sq ft

TENURE

The premises are let on the following basis:

Ground Floor - Vacant possession to be provided at completion of sale.

First Floor - Each flat is let on an Assured Shorthold Tenancy agreement to student tenants as follows:

Flat 1 - £2,058.33 per month £24,700 per annum
Flat 2 - £2,058.33 per month £24,700 per annum
Flat 3 - £2,058.33 per month £24,700 per annum
Flat 4 - £1,235 per month £14,820 per annum

The total rent receivable by the landlord is presently £88,920 per annum exclusive.

PROPOSED TERMS

We are instructed to seek offers in excess of £875,000 for our client's freehold interest, subject to the existing tenancies.

The property is available to let on an effectively full repairing and insuring lease for a term of years to be agreed at an asking rent of £30,000 per annum.


RATING ASSESSMENT

The premises have a Rateable Value of £13,500. Interested parties should contact Stockton Borough Council for the exact rates payable.

COUNCIL TAX

Each residential flat falls within Council Tax Band A.

ENERGY PERFORMANCE CERTIFICATE

The property has the following Energy Performance Certificates:
Flat 1 - Band D
Flat 2 - Band D
Flat 3 - Band C
Flat 4 - Band D
Ground Floor - EPC commissioned

VAT
All rents/prices quoted are exclusive of VAT if applicable.

VIEWING
Strictly by appointment through Thomas Stevenson
Contact Jack Robinson/Neil Thomas

Subject to contract