Retail premises for sale in High Street, Redcar TS10

Fixed price £300,000 (£153.14/sq. ft)
Retail premises for sale 1,959 sq. ft*

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117 High Street And 9 King Street, Redcar Ts10 3Dg

Interested in this property? Call +44 20 3641 9157 * or Request Details

* Calls to this number will be recorded for quality, compliance and training purposes.

Property features

  • Multiple Freehold Shops Investment
  • Comprises a ground and first floor retail unit on High street
  • Comprises two ground floor retail units on King Street
  • Predominant position in a pedestrianised location
  • Opposite Pontefract’s street market
  • VAT is not applicable to this property
  • Nearby occupiers include Heron Foods, Coral Betting, tsb Bank, Wilko and others

Property description

Investment Consideration:
Gross Initial Yield: 8.03%
Rental Income: £24,080 p.a.
VAT is not applicable to this property.
Predominant position in a pedestrianised location.
Opposite Pontefract`s street market.
The property comprises a ground and first floor retail unit with first floor ancillary accommodation on the High Street and two ground floor retail shops on King Street.
Nearby occupiers include Heron Foods, Coral Betting, tsb Bank, Wilko, amongst other local traders.

Property Description:
The property comprises a ground and first floor retail unit with first floor ancillary accommodation on the High Street and two ground floor retail shops on King Street.

The property provides the following accommodation and dimensions:
No. 117 High Street (Ground & First Floor Shop): 91.60 sq m (986 sq ft)
No. 7 King Street (Ground Floor Shop): 66.40 sq m (715 sq ft)
No. 9 King Street (Ground Floor Shop): 24.00 sq m (258 sq ft)

Tenancy:
The shop No. 117 High Street is at present let to R B Periotto t/a Café & Patisserie for a term of 5 years from 1st November 2018 at a current rent of £11,000 per annum and the lease contains full repairing and insuring covenants.

The shop No. 7 King Street is at present let to C Osborne t/a Pizza Kebab for a term of 7 years from 1st July 2017 at a current rent of £7,080 per annum and the lease contains full repairing and insuring covenants. The lease provides for rent reviews on the 1st July 2022 and 30th June 2023.

The shop No. 9 King Street is at present let to an Individual for a term of 5 years since 2019 at a current rent of £6,000 per annum and the lease contains full repairing and insuring covenants. Rent deposit is held of £1,000.

Location:
Redcar is a seaside resort and town in North Yorkshire. It lies 7.5 miles east-north-east of Middlesbrough on the North Sea coast. The property is situated on the corner of High Street and King Street. Nearby occupiers include Heron Foods, Coral Betting, tsb Bank, Wilko, amongst other local traders.

Property info

* Sizes listed are approximate. Please contact the agent to confirm actual size.

Arrange Viewing

For more information about this property, please contact
Blue Alpine Partners, SW1P on +44 20 3641 9157 * (local rate)

Contact Blue Alpine Partners about this property

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Blue Alpine Partners, and do not constitute property particulars. Please contact Blue Alpine Partners for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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