102-108 High Street Redcar Cleveland TS10 3DL

102-108 High Street
Redcar
Cleveland
TS10 3DL

High Yielding Freehold Retail Investment

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
Auction Venue
Live Streamed Auction

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High Yielding Freehold Retail Investment

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

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.