Unit 94 and unit 94a Middleton Grange Shopping Centre Hartlepool TS24 7RZ

  • Unit 94 and unit 94a<br>Middleton Grange Shopping Centre<br>Hartlepool<br>TS24 7RZ

Unit 94 and unit 94a
Middleton Grange Shopping Centre
Hartlepool
TS24 7RZ

Town Centre Retail Investment within a Shopping Centre

  • Majority let to B&M Retail Limited on a lease expiring October 2026
  • Total area comprising approximately 40,000 sq ft
  • Asset management opportunity to let vacant shop
  • Prominent location within Middleton Grange Shopping Centre
  • Nearby retailers include Primark, Wilko, Specsavers, Boots Opticians, H&M, JD Sports, McDonalds, Bodycare and Sports Direct
  • Attractive Yield on Guide Price
  • Lot
    36
  • Auction
    24th September 2021
  • Rent
    £200,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £780,000
  • Auction Venue
    Live Streamed Auction
  • On instructions of Administrators
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Town Centre Retail Investment within a Shopping Centre

  • Majority let to B&M Retail Limited on a lease expiring October 2026
  • Total area comprising approximately 40,000 sq ft
  • Asset management opportunity to let vacant shop
  • Prominent location within Middleton Grange Shopping Centre
  • Nearby retailers include Primark, Wilko, Specsavers, Boots Opticians, H&M, JD Sports, McDonalds, Bodycare and Sports Direct
  • Attractive Yield on Guide Price
  • Lot 36
  • Auction 24th September 2021
  • Rent £200,000 per Annum Exclusive
  • Status Sold
  • Price £780,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • On instructions of Administrators

Property Information

Location
Miles
17 miles south-east of Durham
20 miles north-east of Darlington
Roads
A19, A179, A689
Rail
Hartlepool
Air
Durham Airport
Situation

Hartlepool is a port town and administrative centre of County Durham, approximately 17 miles south-east of Durham and 20 miles north-east of Darlington. The property is located within the heart of the Middle Grange Shopping Centre in a prominent position within Hartlepool, and is considered the major shopping destination for the area. Other retailers within the centre include Primark, Wilko, Specsavers, Boots Opticians, H&M, JD Sports, McDonalds, Bodycare and Sports Direct.

Tenure

Long Leasehold. Held for a term expiring 25th February 2069 at a peppercorn rent.

Location
Miles
17 miles south-east of Durham
20 miles north-east of Darlington
Roads
A19, A179, A689
Rail
Hartlepool
Air
Durham Airport
Situation

Hartlepool is a port town and administrative centre of County Durham, approximately 17 miles south-east of Durham and 20 miles north-east of Darlington. The property is located within the heart of the Middle Grange Shopping Centre in a prominent position within Hartlepool, and is considered the major shopping destination for the area. Other retailers within the centre include Primark, Wilko, Specsavers, Boots Opticians, H&M, JD Sports, McDonalds, Bodycare and Sports Direct.

Tenure

Long Leasehold. Held for a term expiring 25th February 2069 at a peppercorn rent.

Description

The property comprises two shops within a covered shopping centre. Unit 94 is arranged over ground and two upper floors, and 94a is located on the ground and first floor.

VAT

VAT is applicable to this lot.

Note

This property is being marketed for sale on behalf of Joint Administrators and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Administrators to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Joint Administrators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

Completion Period

Six Week Completion

EPC

C. See legal pack at www.acuitus.co.uk.

Description

The property comprises two shops within a covered shopping centre. Unit 94 is arranged over ground and two upper floors, and 94a is located on the ground and first floor.

VAT

VAT is applicable to this lot.

Note

This property is being marketed for sale on behalf of Joint Administrators and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Administrators to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Joint Administrators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

Completion Period

Six Week Completion

EPC

C. See legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

Unit Floor Floor Areas
(Approx)		 Tenant Term Rent p.a.x Review/
(Reversion)
94 Ground
First
Second
1,384.76 sq m
1,696.78 sq m
50.50 sq m
(14,906 sq ft)
(18,264 sq ft)
(543 sq ft)
 B & M Retail
Limited (1)		 Term of years
expiring 9th
October 2026		 £200,000 (09/10/2026)
Sub Total
3,132.04 sq m
(33,713 sq ft)
94a Ground
First
493.09 sq m
160.62 sq m
(5,307 sq ft)
(1,729 sq ft)
 Vacant      
Sub Total
653.71 sq m
(7,036 sq ft)

(1) For the year ended 31st March 2020, B&M Retail Ltd reported a turnover of £3.15bn, pre tax profit of £262m and a net worth of £806m (Source: Experian). 685 stores and 35,000 staff (Source: bmstores.co.uk).

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.

Contacts

Seller's Solicitors
Shoosmiths LLP (Manchester) The Xyz Building, 2 Hardman Boulevard, , Spinningfields
Manchester
Lancashire
M3 3AZ
Bethan Moore 03700 865 573 Bethan.Moore@shoosmiths.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
AquillaNatasha Ward+44 (0)20 3159 4314+44 (0)7545 208 759natashaw@aquillaib.co.uk

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