Retail premises for sale in Albert Road, Middlesbrough TS1

£350,000 (£207.47/sq. ft)
Retail premises for sale From 1,687 - 7,641 sq. ft*
Interested in this property? Call +44 1642 048084 * or Request Details

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

Property features

  • High Street mixed use investment
  • Currently producing income of £37,000 per annum
  • Opportunity for redevelopment. Planning permission for 48 student flats
  • Located in Albert North
  • Close to Middlesbrough Town Hall and Centre Square

Property description

Investment for sale


Location
The property is located on Albert Road, one of the premier business location in Middlesbrough Town Centre and close to the junction with Corporation Road.

The section of Albert Road has been rebranded as Albert North and has undergone a successful regeneration attracting a number of digital businesses, new cafes and bars.

Nearby occupiers include hsbc Bank, Middlesbrough Town Hall, Optical Express, Triads, Bier and Beer and Turtle Bay.

Description
The property comprises a terrace of 3 high street, ground floor retail units with separate upper floor offices. The building is of traditional brick construction with pitched tiled roof.

The units have rear access off Albert Mews.

Tenancy
The property is occupied by 3 retails tenants and one office tenant and produces £37,000 per annum.

The leases are all on internal repairing and insuring basis. There are some unoccupied vacant parts to the upper floors.

See tenancy schedule on next page.

Accommodation
48 Albert Road
Ground floor - 1,619 sq. Ft
First floor - 67 sq. Ft.

Ground floor, 50 Albert Road
Retail area 327 sq. Ft

Part first floor, 50 Albert Road
Offices - 735 sq.ft

52 Albert Road
Ground floor - 1,924 sq. Ft
Garage - 251 sq. Ft

First floor, 50 Albert Road (vacant)
3,039 sq. Ft.

Total - 7,641 sq. Ft.



Rates
The valuation office website shows rateable values for the units as follows:
48 Albert Road – £12,000
Ground floor, 50 Albert Road - £4,900
Part 1st floor, 50 Albert Road – £1,475
52 Albert Road - £13,000

The current ubr (Uniform Business Rate) is 49.9 pence in the pound for the 2021-2022 period. Enquiries regarding the exact amount payable should be directed to Middlesbrough Borough Council on Terms
Freehold offers invited based on £350,000

Energy Performance Certificate
This property has an energy assessment rating of C(67) A full copy of the EPC is available upon request.

Planning
Demolition of the existing buildings and erection of a 5 storey building comprising of 2no mixed use A1/A2/A3 units on the ground floor and 48no student bedrooms (sui generis) with communal roof gardens and 2 car parking spaces.

Middlesbrough Council planning reference - 20/0331/ful


VAT


All offers where made silent of VAT, will be deemed to be exclusive thereof.

Legal Costs
Each party to bear their own legal costs in connection with this transaction.

Further Information
Strictly through the Sole Agents Dodds Brown.

Property info

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

Arrange Viewing

For more information about this property, please contact
Dodds Brown, TS1 on +44 1642 048084 * (local rate)

Contact Dodds Brown about this property

Enter details
    Morning (8am-noon)
    Afternoon (noon-5pm)
    Evening (5pm-9pm)
  1. Characters remaining: 500

By submitting this form, you accept our Terms of Use and Privacy Policy. When you click 'Send message''Request valuation', we will pass your personal data to the selected estate agents so that those agents can respond to your request for information or to arrange a viewing. valuation request.

Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Dodds Brown, and do not constitute property particulars. Please contact Dodds Brown 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.

Properties on the market nearby

12 more properties like this

View all Albert Road commercial properties for sale