£150,000
(£27.97/sq. ft)
Retail premises for sale1-5, Clarence Road, Port Clarence, Stockton On Tees TS2
5,363 sq. ft
Freehold
About this property
Parade of 5 Properties For Sale
Part Income Producing
(currently £7,000 per annum)
Ground and First Floor Accommodation
Prominent Roadside Location
Investment Opportunity
Extensive Car Parking
The property is located front the A1046 Port Clarence Road, approximately 3 miles east of Stockton on Tees town centre and 3 miles north of Middlesbrough town centre.
The immediate surrounding area is predominantly residential with extensive commercial areas a short distance away.
The parade comprises a terrace of 5 self-contained 2-storey properties of traditional brick cavity wall construction under a multi-pitched concrete tiled covered roof.
Internally each unit has front accessed ground floor accommodation with internal staircase access to the first floor and wc accommodation.
Terms
The parade is available to purchase on a Long-leasehold basis for a term of 999 years with offers invited in the region of £150,000.
Use
The Local Authority have been unable to verify the allocated use class for all of the units and we therefore recommend that interested parties carry out their own investigations with Stockton Borough Council directly.
We understand that in principle commercial use is permissible for the ground floor accommodation with the upper floor to be used for ancillary storage, office or residential. However, this is subject to any prospective purchaser obtaining the necessary planning consents with Stockton Borough Council.
Separate and private residential tenancies of the upper floors are permitted, however, they cannot be used as an HMO or for short-term temporary lettings
Tenancies
Unit 1 let at £6,000 per annum. New 10 year term with 5 year rent review (cpi index linked with 15% cap and 10% collar).
Unit 4 let at £5,200 per annum for a term running from 26 April 2024 until 25 April 2029.
Rateable values
Unit 1 : £3,050 Unit 2 : £1,825
Unit 3 : £1,975 Unit 4 : £1,375
Unit 5 : £2,500
Energy performance certificate
The EPC Ratings range between C(54) and E(115)
Legal costs
Each party is to pay their own legal costs incurred in the transaction.
Accommodation:
Unit 1: 1,077.00 sqft
Unit 2: 1,066.00 sqft
Unit 3: 1,066.00 sqft
Unit 4: 1,077.00 sqft
Unit 5: 1,077.00 sqft
Total: 5,363.00 sqft
The immediate surrounding area is predominantly residential with extensive commercial areas a short distance away.
The parade comprises a terrace of 5 self-contained 2-storey properties of traditional brick cavity wall construction under a multi-pitched concrete tiled covered roof.
Internally each unit has front accessed ground floor accommodation with internal staircase access to the first floor and wc accommodation.
Terms
The parade is available to purchase on a Long-leasehold basis for a term of 999 years with offers invited in the region of £150,000.
Use
The Local Authority have been unable to verify the allocated use class for all of the units and we therefore recommend that interested parties carry out their own investigations with Stockton Borough Council directly.
We understand that in principle commercial use is permissible for the ground floor accommodation with the upper floor to be used for ancillary storage, office or residential. However, this is subject to any prospective purchaser obtaining the necessary planning consents with Stockton Borough Council.
Separate and private residential tenancies of the upper floors are permitted, however, they cannot be used as an HMO or for short-term temporary lettings
Tenancies
Unit 1 let at £6,000 per annum. New 10 year term with 5 year rent review (cpi index linked with 15% cap and 10% collar).
Unit 4 let at £5,200 per annum for a term running from 26 April 2024 until 25 April 2029.
Rateable values
Unit 1 : £3,050 Unit 2 : £1,825
Unit 3 : £1,975 Unit 4 : £1,375
Unit 5 : £2,500
Energy performance certificate
The EPC Ratings range between C(54) and E(115)
Legal costs
Each party is to pay their own legal costs incurred in the transaction.
Accommodation:
Unit 1: 1,077.00 sqft
Unit 2: 1,066.00 sqft
Unit 3: 1,066.00 sqft
Unit 4: 1,077.00 sqft
Unit 5: 1,077.00 sqft
Total: 5,363.00 sqft
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Monthly repayment
£750 per month
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