Commercial property for sale in High Street, Stockton-On-Tees TS18

Summary
guide price £250,000 - Tenanted property producing an annual yield of £30,000.
Imposing building occupying a prominent high street position.

Description
***remains available under the auction conditions***contact the auctioneers to make an offer now***

An imposing commercial unit situated in a central location along Stockton High Street, near to the Wellington Square Shopping Precinct, parking and with bus stops outside to the surrounding districts. This period property was a former site of Woolworths and is now tenanted to a charity on a 10 year lease from 27th September 2021 with a current rent payable of £30,000 per annum. This spacious building has been much improved over recent years and offers useful space over three floors with additional room in the basement for storage and continues across the rear of no. 142 High Street and onto Ropery Street. The ground floor briefly comprises of impressive open entrance area leading through to hallway with several rooms on either side including WC and kitchen area. First and second floor offers huge potential due to the space provided on each floor.
The property previously had planning consent for the creation of nine residential units and the creation of roof terraces and associated external alterations including a part change of use on the ground floor level, from retail to residential. Further details can be found on Stockton on Tees Borough Council planning portal using Ref: 19/1816.ful
Due to the property being sold with the tenants in situ, there will be no internal viewings available prior to the auction. Interested parties are advised to obtain a copy of the auction legal pack with further details prior to bidding.

Accommodation
Lower Ground Floor: Ancillary Basement/ Storage.
Ground Floor: Entrance, Hallway, Several Classrooms, WC, Kitchen and Social Area.
First Floor: Classrooms and Open Space (Currently Unused)
Second Floor – Loft Area, Currently Just Used for Storage.

Tenure:
Freehold.

EPC Rating D

Enquiries:
Manners and Harrison, 23 High Street, Stockton on Tees, TS18 1SP Tel. ***reduced guide price: £250,000 + VAT***

Important Notice:
For each Lot, a contract documentation fee of £1500 (inclusive of VAT) is payable to the Auctioneers by the buyer. The seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of Sale. Buyers are deemed to bid in full knowledge of this.

The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price.

Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at.
**please contact the auctioneers at to request A copy of the legal pack, if this is available we can email it over to you**

When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if appropriate the auctioneers may adjust the guide price to reflect this.
Whilst the auctioneers make every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of properties in our auctions and cannot therefore guarantee the safety and security of viewers.
Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds and outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers risk.

Registration for bidding online will close the Friday before the auction sale. Please ensure you register and submit all the details and documents required in time. Without authorisation to bid prior to the sale you will be unable to bid in the auction.

1. Money laundering regulations: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Photographs and Measurements: Some images may have been taken by a wide angled lens camera. These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. These particulars are issued in good faith but do not constitute representations of fact or form part of any offer or contract. The matters referred to in these particulars should be independently verified by prospective buyers or tenants. Neither sequence (UK) limited nor any of its employees or agents has any authority to make or give any representation or warranty whatever in relation to this property.