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Wrkspace, 251-255 Linthorpe Road, Middlesbrough

Guide Price
£2,850,000

£78.58 per sq ft

Business rates & charges may apply

Savills, City Offices
SIZE AVAILABLE

36,271 sq ft

3,370 sq m

SECTOR

Mixed use property for sale

Key features

  • To be offered on Wednesday 5 November
  • High Yielding Mixed Use Investment
  • Three retail units and office space to the upper parts
  • Multi-let to eight tenants including Tesco and Ladbrokes
  • 73% of the income is secured against Creditsafe 'very low risk' rated tenants
  • WAULT of c. 5.59 Years
  • Fully refurbished, award winning building
  • 36,271 sq ft (3,369 sqm)
  • Located on the principle retail thoroughfare in Middlesbrough
  • Investment Let at £330,121.52 p.a. (11.58% GIY on guide price)

Description

A high yielding fully let mixed use investment comprising 36,271 sq ft (3,369 sqm) of retail and office space arranged over 4 floors. The property is fully let producing £330,121.52 (11.58% GIY) on guide price. 73% of the total income is secured against Creditsafe 'very low risk' rated tenants, including Tesco and Ladbrokes. The property benefits from being fully refurbished and a secure underground car park comprising 37 parking spaces. The property has also won 'The best building of any Category ' award at the Evening Gazette Awards 2018.

The property occupies a prominent position on Linthorpe Road- the principle retail and leisure thoroughfare in Middlesbrough. The prime shopping centre in Middlesbrough is located 0.3 miles from the property , where occupiers include, Card Factory, Greggs, Next and Primark. In addition, Teesside University's Main campus is located directly opposite the property .

The building is subject to a service charge and all costs are borne by the service charge including a management fee that can used by a prospective incoming purchaser to cover the cost of managing the building , or to appoint a property management company to this effect. Please refer to the legal pack , where a copy of the service charge can be found.

The property is located in Middlesbrough Town Centre on Linthorpe Road, and the junction with St Aidans Street,and Clifton Street. Linthorpe Road, is the main retail thoroughfare in Middlesbrough and provides the town with the majority of its lesiure , retail and restaurant amenity . In addition, it is the home of Middlesbrough University's main campus, located directly opposite the subject property .

The property benefits from being located 0.8 Miles from Middlesbrough Rail station providing direct access to London,Manchester and York. By road the property is well located from access to the A66, and A1M

Brochures

Wrkspace, 251-255 Linthorpe Road, Middlesbrough

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Middlesbrough Station0.7 miles
  • Marton Station2.4 miles
  • Thornaby Station2.5 miles

About Savills, City Offices

Finsbury Circus House, 15 Finsbury Circus, London, EC2M 7EB

Notes

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Disclaimer - Property reference A21819AD-FE87-4983-AAF5-CD49CB361A4F. 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 Savills, City Offices. 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.

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