Acquired
Hartlepool – Double Fronted Shop with Ancillary Above
172/174 Raby Road, Hartlepool, Cleveland TS24 8EJFreehold Retail Investment with Future Development Potential
Tenure
Freehold
Lease Term
16 Years
Years Left on Lease
2y 2m
Area
2000 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises 2 x ground floor shops with ancillary at first floor (sealed)
- Let to Coral Racing limited until 2027 (no breaks)
- Future residential development potential, subject to planning
- Located in predominantly residential area within walking distance to Hartlepool Town Centre and Train Station
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property comprises 2 x ground floor shops with ancillary accommodation at first floor, which has been sealed off by the tenant.
The property provides the following accommodation and dimensions:
Ground Floor: 117.60 sq m (1,266 sq ft)
Open plan retail, Storage, Office, WC
First Floor: Not inspected
Ancillary
The property provides the following accommodation and dimensions:
Ground Floor: 117.60 sq m (1,266 sq ft)
Open plan retail, Storage, Office, WC
First Floor: Not inspected
Ancillary
Tenancy Description
The property is at present let to Coral Racing Limited (not in occupation) for a term of 16 years from 28th February 2011 at a current rent of £13,120 per annum and the lease contains full repairing and insuring covenants. No breaks.
Tenancies & Accommodation
Location Description
Hartlepool is located approximately 8 miles north of Middlesbrough and 17 miles south of Sunderland. The town benefits from excellent road communications with the A689 dual carriageway providing direct links to both the A19 and A1(M). The property is situated in an established suburban retail area on the east side of Raby Road close to its junction with Chester Road and Brougham Terrace.
