Commercial property for sale in 32-34 Newtown Avenue, Stockton On Tees TS19

• Investment opportunity


• Currently let at a rent of £5,000 per annum


• Reversion March 2025


• Ground floor lock-up shop


• Floor area approx. 46.22 sq. M / 498 sq. Ft.

Description

Single storey retail unit situated in a largely residential area to the north west of Stockton Town Centre. The property is currently let at a rent of £5,000 per annum to March 2025.

Location

The property is located on Newtown Avenue close to the junction with Bishopton Road. There is free on street parking to the front of the property. Surrounding uses are principally residential although there are a number of retail businesses situated on Bishopton Road which is one of the principle access routes to Stockton Town Centre from the west.

Accommodation

The accommodation extends to 46.22 sq m / 498 sq ft and is configured to provide an open plan office/sales area, kitchen and WC which includes a shower. The accommodation has recently been refurbished to a high standard with UPVC shop front, electric external roller shutters, spot lighting and wall mounted electric heaters.

Terms

Offers in the region of £49,500.

Services

As far as we are aware the property has mains supplies of water and electricity in addition to access to mains drainage.

Energy Performance Certificate

Energy Performance Rating 119 (Band E). Full certificate available on request

Tenancy

The property is let to a private individual on a 2.5 year lease term from 29th September 2023 and expiring on 28th March 2026, at a rent of £5,000 per annum.

Rating Assessment

£2,650 Obtained from the Valuation Office Agency ()

The ubr for the period 2023/2024 is 51.2p in the pound. Rates payable are therefore £1,356.80 less any Small Business Relief or any other discounts, which might be applicable.

Please contact your local authority for more information.