Retail premises for sale in 522, Normanby Road, Middlesbrough TS6

The property is situated in the attractive suburb of Normanby in the Borough of Redcar and Cleveland. Normanby lies between Ormesby to the West, Eston to the East and is approximately 4 miles equidistant from Middlesbrough Town Centre and Redcar.

The property is prominently located at a busy crossroad on the corner of High Street and Normanby Road. Nearly occupiers include Tesco Express, Ladbrokes, McColls, a Post Office and local pubs. Close by to the property is a large free car park.

The property comprises of a brick-built end of terrace property with dual pitch slate roof. The property provides retail space on ground floor, presently a salon with further treatment rooms and kitchen on the first floor.

The property could be converted back to provide a flat on the first floor having separate services.

Tenancy

The property is let to an established Thai Massage and Beauty Business on a tenants full repairing and insuring lease for a term of 3 years from 19 June 2023 at a passing rent of £9,600 per annum exclusive payable monthly in advance.

The Landlord holds a 3-month bond which will be transferred to the purchaser on the sale. The tenant has provided a Personal Guarantee.

The tenant is responsible for business rates, buildings insurance and all utilities.

Energy performance certificate

The Energy Performance Certificate has been assessed with a rating of E (105). Full copy available on request.

Price

We are seeking a reduced price of £110,000 exclusive for the income producing investment providing an attractive gross return 8.73%. We believe this attracts £0 stamp duty on the sale. Purchaser to rely on their own investigations in this regard.

Accommodation:
Front Sales : 264.00 sqft
Rear Office: 74.00 sqft
First Floor (4 rooms): 341.00 sqft
Total: 679.00 sqft