2-3 High Street, Stockton-on-tees

LOCATION

The property is located within the historic market town of Stockton on Tees, 3 miles to the west of Middlesbrough, 10 miles east of Darlington and 10 miles south west of Hartlepool.

Road communications to the town are strong being within close proximity of the A66 which provides connection to the A1(M) and A19 dual carriageway and wider Teesside area.

Stockton High Street is an established commercial location  positioned between West Row and Bishopton Street. 2 – 3 High Street is located 250 metres north of the pedestrianised town centre, 100 metres east of Wellington Square car park and opposite the prominent Maxwell’s Corner development at the junction of High Street, Bishopton Lane and Norton Road.

Nearby occupiers include the recently refurbished Globe Theatre, Splash, Well Pharmacy, Allure Hair and Beauty Ariba Afri Mart and the popular Wellington Square shopping centre.

DESCRIPTION

The property comprises a three storey, mid terrace building arranged to provide ground floor  retail unit and stores across two upper floors.

At ground floor level the unit provides an open plan sales area with rear stores, kitchen and staff areas. The upper floors provide storage across two floor accessed by timber stairwells.

The property has no rear access but benefits from roller shutter door security and double frontage.

The building is suitable for a variety of uses subject to planning and the necessary consents including convenience store, hospitality and service providers.

The building holds potential for residential conversion of the upper floors to increase the rental potential of the property.

ACCOMMODATION

The building has the following approximate areas (NIA):

Ground Floor     141.07 sq m     (1,518 sq ft)

First Floor     135.79 sq m     (1,462 sq ft)

Second Floor       79.87 sq m     (   860 sq ft)

Total     356.18 sq m     (3,840 sq ft)

The building has the following approximate GIA:

Gross Internal Area     385.18 sq m    ( 4,146 sq ft)

RATEABLE VALUE

The rateable value of 2 – 3 High Street is £16,750. Interested parties should contact Stockton Borough Council for the exact rates payable.

PROPOSED TERMS

The property is available on a full repairing and insuring lease for term of 5 or 10 years at a rent of £12,000 per annum.

The landlord would also consider selling the freehold interest and offers in excess of £120,000 are invited.

USE / PLANNING

The property falls under Use Class E of the Town & Country Planning Use Classes Order as amended on 1st September 2020.

The property has lapsed planning permission for the conversion of the upper floors from stores to 7no bed house of multiple occupation.

Planning Reference – 13/1966/FUL

LEGAL COSTS

The tenant is to be responsible for the legal costs in respect of this transaction.

VAT

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

ANTI-MONEY LAUNDERING

In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser(s).

VIEWING

Strictly by appointment through this office.

Email:

Tel:

Subject to Contract