Let to two Charity Shops, Kidney Research UK and Farplace Animal Rescue
Leases expire April 2025 and August 2029 (no breaks)
Includes vacant upper floor
Approximately 8,010 sq ft
Close to Regent Walk Shopping Centre
Nearby occupiers include Iceland, Morrisons, B&M, The Works, Wilko, Costa Coffee, Greggs, Sports Direct and WHSmith
Lot 43
Auction 18th May 2023
Rent £39,000 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
6 miles east of Middlesbrough, 25 miles east of Darlington
Roads
A19, A66, A1065
Rail
Redcar Central Railway Station
Air
Newcastle International Airport
Situation
The property is situated in the heart of the town centre on the south side of High Street. The property is close to Regent Walk Shopping Centre where retailers include Home Bargains and JD Sports. Other nearby occupiers of the High Street include Iceland, Morrisons, B&M, The Works, Wilko, Costa Coffee, Greggs, Sports Direct and WHSmith.
Tenure
Freehold.
Location
Miles
6 miles east of Middlesbrough, 25 miles east of Darlington
Roads
A19, A66, A1065
Rail
Redcar Central Railway Station
Air
Newcastle International Airport
Situation
The property is situated in the heart of the town centre on the south side of High Street. The property is close to Regent Walk Shopping Centre where retailers include Home Bargains and JD Sports. Other nearby occupiers of the High Street include Iceland, Morrisons, B&M, The Works, Wilko, Costa Coffee, Greggs, Sports Direct and WHSmith.
Tenure
Freehold.
Description
The property comprises two well configured shops each arranged on the ground floor only. The property also includes a vacant first floor with separate access from High Street.
VAT
VAT is applicable to this lot.
Note
Please note the buyer will pay 1% excluding VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.
Completion Period
Six Week Completion
EPC
See Legal Pack
Description
The property comprises two well configured shops each arranged on the ground floor only. The property also includes a vacant first floor with separate access from High Street.
VAT
VAT is applicable to this lot.
Note
Please note the buyer will pay 1% excluding VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.
Completion Period
Six Week Completion
EPC
See Legal Pack
Tenancy & Accommodation
Address
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Review
102-104 High Street
Ground
Retail/Ancillary
399.02
(4,295)
KIDNEY RESEARCH UK (1)
10 years from 02/04/2015
£30,000
-
106 High Street
Ground
Retail/Ancillary
179.77
(1,935)
FARPLACE ANIMAL RESCUE (2)
10 years from 20/08/2019
£9,000
20/08/2024
108 High Street
First
Ancillary
165.37
(1,780)
VACANT
-
-
-
Total
744.16
(8,010)
£39,000
(1) Kidney Research UK Limited are the leading Kidney Charity in the UK and have been established for over 60 years. For the year ending 31st March 2022, Kidney Research Limited reported an annual turnover of £12.77 million, invested £6.46 million into research and development as well as employing 65 staff (www.kidneyresearchuk.org) (2) Farplace Animal Rescue are an animal welfare charity that operate from 39 charity shops across the UK and have been established since 2008 (www.farplace.org.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.
