1-3 Centre Court, The Oval Brookfield Middlesbrough TS5 8HP

1-3 Centre Court, The Oval
Brookfield
Middlesbrough
TS5 8HP

Freehold Convenience Store and Residential Investment

Shop let to Co-Operative Group Food Limited until 2027
Includes a Post Office within the Property
Includes 3 x two bedroom flats let on Assured Shorthold Tenancies
Six Week Completion

Lot
24
Auction
23rd May 2013
Rent
£51,200 per Annum Exclusive
Status
Sold
Price
£630,000
Auction Venue
The Dorchester Hotel
Park Lane Entrance
Mayfair
London W1K 1QA

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Freehold Convenience Store and Residential Investment

Shop let to Co-Operative Group Food Limited until 2027
Includes a Post Office within the Property
Includes 3 x two bedroom flats let on Assured Shorthold Tenancies
Six Week Completion

Lot 24
Auction 23rd May 2013
Rent £51,200 per Annum Exclusive
Status Sold
Price £630,000
Sector
Supermarket/Convenience
Auction Venue
The Dorchester Hotel
Park Lane Entrance
Mayfair
London W1K 1QA

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, and three self-contained two bedroom flats on the first floor. The ground floor of the property is formed from three smaller retail units combined to create one large retail premises which benefits from a post office counter. The residential flats are accessed separately from the rear and side 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

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	£36,000	2017 and 5 yearly
First	Residential – Three x Two Bedroom Flats			INDIVIDUALS	Let on Assured Shorthold Tenancies	£15,200
Totals		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)