1-3 Centre Court Brookfield Middlesbrough TS5 8HP

1-3 Centre Court
Brookfield
Middlesbrough
TS5 8HP

Freehold Convenience Store and Residential Investment

Shop let to Co-Operative Group Food Limited on a new 15 year lease
Includes 3 x two bedroom flats let on Assured Shorthold Tenancies
Situated in a densely populated residential area
Six Week Completion Period Available

Lot
29
Auction
6th December 2012
Rent
£51,200 per Annum Exclusive
Status
Sold Post
Price
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

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Freehold Convenience Store and Residential Investment

Shop let to Co-Operative Group Food Limited on a new 15 year lease
Includes 3 x two bedroom flats let on Assured Shorthold Tenancies
Situated in a densely populated residential area
Six Week Completion Period Available

Lot 29
Auction 6th December 2012
Rent £51,200 per Annum Exclusive
Status Sold Post
Price
Sector
Supermarket/Convenience
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 3.5 miles south of Middlesbrough city centre, 48 miles north of York
Roads: A19, A174, A1044
Rail: Middlesbrough Railway Station
Air: Newcastle Airport

Situation

Middlesbrough is the major town within the Teesside conurbation and the property is situated in Brookfield, a popular residential suburb approximately 3.5 miles south of the town centre. The property is situated within an established parade.

Tenure

Freehold.

Location

Miles: 3.5 miles south of Middlesbrough city centre, 48 miles north of York
Roads: A19, A174, A1044
Rail: Middlesbrough Railway Station
Air: Newcastle Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor convenience store, with residential accommodation on the first floor. The ground floor of the property is formed of three retail units, combined to create one large retail premises which also benefits from a post office counter. The first floor residential accommodation comprises three twobedroom flats.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

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)		Tenant	Term	Rent p.a.x	Reviews
Ground	Retail	345.65 sq m	(3,721 sq ft)	CO-OPERATIVE GROUP FOOD LIMITED (1)	15 years from 03/10/2012 until 2027 on a full repairing and insuring lease (2)	£36,000	2017 and 5 yearly thereafter
First	Residential – Three x Two Bedroom Flats			INDIVIDUAL	Let on Assured Shorthold Tenancies	£15,200
Ground Floor Total		345.65 sq m	(3,721 sq ft)			£51,200

(1) Co-Operative Group Food Limited (IP26715R) are a subsidiary company of Co-Operative Group Limited, the UK’s largest mutual business. The Group operates 4,800 retail trading outlets and employs more than 106,000 people. (Source: www.co-operative.co.uk)
For the year ending 31st December 2011, Co-Operative Group Limited reported a turnover of £12,318,000,000, pre-tax profits of £231,000,000 and a net worth of £3,501,000,000. (Source: www.riskdisk.com)
(2)The Tenant is currently benefiting from a rent free period due to expire on 3rd April 2013. The Seller has agreed to adjust the completion monies so that the property will effectively produce £51,200 from completion of the sale.