Freehold Retail/Office Investment with Asset Management Opportunities
Comprises substantial ground floor former banking hall with office accommodation on the upper two floors
Immediate asset management opportunities
Onsite car parking
Busy town centre location close to Regent Walk Shopping Centre
Nearby occupiers include Subway, Nationwide, Iceland, Holland & Barrett and Boots
VAT Free Investment
Lot 28
Auction 13th February 2025
Rent £7,750 per Annum Exclusive Plus vacant former bank of 263.20 sq m (2,833 sq ft)
Status Available
Guide* £75,000
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/Durham Tees Valley Airport
Situation
The property is situated on the north side of the pedestrianised High Street East in the heart of the town centre. Nearby occupiers include Subway, Nationwide, Iceland, Holland & Barrett, Boots as well as being some 100 metres from the Regent Walk Shopping Centre.
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/Durham Tees Valley Airport
Situation
The property is situated on the north side of the pedestrianised High Street East in the heart of the town centre. Nearby occupiers include Subway, Nationwide, Iceland, Holland & Barrett, Boots as well as being some 100 metres from the Regent Walk Shopping Centre.
Tenure
Freehold.
Description
The property comprises a former bank on the ground floor with separately accessed office accommodation on the first and second floors and onsite car parking to the rear of the property.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a former bank on the ground floor with separately accessed office accommodation on the first and second floors and onsite car parking to the rear of the property.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Ground
Retail
263.20
(2,833)
VACANT
First Second
Office Office
97.20 108.80
(1,046) (1,171)
COATHAM HOUSE ENTERPRISE LIMITED (1)
20 years from 01/10/2004 (Holding Over)
£7,750
Total
469.20
(5,050) (2)
£7,750
(1) Coatham House Enterprise Limited are a charitable organisation providing supported accommodation to people aged 16-24 who are homeless or may be at risk of homelessness in the Redcar and Cleveland area (www.coathamhouse.org) (2) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.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.
