44 Catcote Road Hartlepool County Durham TS25 4HG

44 Catcote Road
Hartlepool
County Durham
TS25 4HG

Freehold Retail and Residential Investment

Let to Coral Racing Ltd until 2027 (no breaks)
Includes self-contained flat
2021 Rent Review minimum 2.5% pa compound uplift
Neighbouring occupiers include Spar, One Stop, Pizza Hut and an eclectic mix of local traders

Lot
46
Auction
12th February 2020
Rent
£15,840 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
Marble Arch
London W1H 7TN

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Freehold Retail and Residential Investment

Let to Coral Racing Ltd until 2027 (no breaks)
Includes self-contained flat
2021 Rent Review minimum 2.5% pa compound uplift
Neighbouring occupiers include Spar, One Stop, Pizza Hut and an eclectic mix of local traders

Lot 46
Auction 12th February 2020
Rent £15,840 per Annum Exclusive
Status Withdrawn Post
Price
Sector
High Street Retail
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
Marble Arch
London W1H 7TN

Property Information

Location

Miles: 10 miles north of Middlesborough; 18 miles south-east of Durham
Roads: A179, A689, A1
Rail: Hartlepool Train Station
Air: Newcastle International Airport

Situation

The property is prominently situated on the west side of Catcote Road, approximately a mile and a half south-west of Hartlepool town centre. Neighbouring occupiers include Spar, One Stop, Pizza Hut and an eclectic mix of local traders.

Tenure

Freehold.

Location

Miles: 10 miles north of Middlesborough; 18 miles south-east of Durham
Roads: A179, A689, A1
Rail: Hartlepool Train Station
Air: Newcastle International Airport

Situation

Tenure

Freehold.

Description

The property comprises ground floor retail accommodation and a self-contained first floor residential flat.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

Available from the legal pack at acuitus.co.uk.

Description

The property comprises ground floor retail accommodation and a self-contained first floor residential flat.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

Available from the legal pack at acuitus.co.uk.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/ (Reversion)
Ground First	Retail Residential	104.55 sq m	(1,125 sq ft) Self-contained flat	CORAL RACING LTD (1)	16 years from 03/02/2011 on a full repairing and insuring lease (2)	£15,840	25/03/2021 minimum 2.5% p.a. Compounded uplift. (02/02/2027)
Total CommercialFloor Area		104.55 sq m	(1,125 sq ft)			£15,840

(1) For the year ending 31st December 2017, Cora Racing Limited reported a turnover of £598,371,000, pre-tax profits of £7,642,000 and a total net worth of £75,914,000 (Source: Experian Group 07/01/2020).
(2) The lease provides for a rent review in March 2021 to either a minimum of 2.5% per annum compounded or open market rental value. The rent will therefore rise to a minimum of £17,921.51 per annum upon review.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.