Great investment opportunity with high yield. The property comprises a ground floor retail unit with first and second floor ancillary accommodation.
Current tenancy details: Ground Floor (612 sq ft) (Retail Ancillary), First floor (573 sq ft), Second floor (289 sq ft), lease issued for 5 years from Sep 2015, Rental: £13,000 per annum
(1) The lease provides an option to determine on 25th September 2018. (2) For the purpose of clarification, the current rent is £11,700 pa increasing to £13,000 pa on 25th September 2016. The seller has agreed to adjust the completion monies so that the unit will effectively produce £13,000 per annum from completion of the sale.
The property occupies a prominent position on Corporation Road, close to its junction with the pedestrianised thoroughfare of Linthorpe Road. The property lies diagonally opposite an entrance to The Cleveland Centre, Middlesbrough’s largest shopping centre, and within in a short walk of Middlesbrough Hill Shopping Centre and Dundas Shopping Mall. Other nearby occupiers include Tesco Express, Barclays, BHS and Dorothy Perkins.
Tenure: Freehold. Asking price: £199,000 / Freehold / high yield
Location: • Miles: 15 miles east of Darlington, 23 miles south-east of Durham, 27 miles south of Sunderland • Roads: A66, A19, A174 • Rail: Middlesbrough Rail • Air: Durham Tees Valley International Airport • Located Attractive town centre building let on a recent lease • Located on the busy Corporation Road off the prime retail thoroughfare of Linthorpe Road • Some 25 meters from The Cleveland Centre (Middlesbrough’s largest shopping centre) • Nearby occupiers include Tesco Express, Barclays, BHS and Dorothy Perkins
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Slideshow for Corporation Road, Middlesbrough, North Yorkshire