Westerby Road, Middlesbrough, North Yorkshire, TS3

LOCATION

The property is located in Middlesbrough, which is positioned close to the mouth of the River Tees and forms part of Teesside, 23 miles south of Sunderland, 12 miles north east of Darlington and 44 miles north of York.

1 Westerby Road is situated on the edge of Skippers Lane Industrial Estate, a well established trading estate approximately 2 miles east of Middlesbrough town centre home to a number of national and regional occupiers including Halfords Autocentre, Toolstation, Autoglass and Virgin Media.

The location enjoys excellent access to the A66 Trunk Road and the premises benefit from excellent visibility to South Bank Road. Occupiers in close proximity include MB DIY, Starbucks, Dulux Decorator Centre, Screw Fix and Ford.

DESCRIPTION

The property comprises a light industrial unit with integrated two storey office block to the front elevation and workshop to the rear. Occupied for a number of years by the well established Learning Curve Group, the property is currently in use as a training centre.

The offices are arranged to provide reception area, several small office suites and toilets on the ground floor together with several classrooms and toilet facilities on the first floor.

The warehouse has been partitioned by the tenant to provide individual workshops and classroom/training spaces.

ACCOMMODATION

Office 577.16 sq m ( 6,212 sq ft)
Warehouse 1,122.26 sq m (12,080 sq ft)

Total 1,699.42 sq m (18,292 sq ft)

TENURE

The premises are fully let to Learning Curve Group Limited by way of a 5 year Full Repairing and Insuring Lease from 23 March 2022 at a reversionary rent of £40,000 per annum. We would anticipate rental growth in the short term.

Learning Curve Group Ltd published a profits, after tax, in excess of £3.4 million for the year ended 31 January 2023. Further lease details are available on request from this office.

PROPOSED TERMS

The freehold interest is available to purchase with offers invited over £490,000 reflecting a gross initial yield of 8.16%.

RATING ASSESSMENT

1 Westerby Road has a Rateable Value of £40,250. Interested parties should contact Middlesbrough Council to determine the exact rates payable.

VAT

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

VIEWING

Strictly by appointment through this office
Contact Jack Robinson on:
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Subject to contract