Acquired
Stockton-on-Tees – Coral Betting Shop
69/69a Durham Road, Stockton-on-Tees, Cleveland TS19 0BPFreehold Shop Investment
Tenure
Freehold
Lease Term
16 Years
Years Left on Lease
2y 3m
Area
1,370 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises two storey end-of-terrace property, arranged as a ground floor shop with ancillary accommodation at first floor
- Let to Coral Racing Ltd until 2027, no breaks (tenant not in occupation)
- Asset Management Opportunity – potential for dilapidations
- Nearby occupiers include a local dog groomer's, industrial estate. Amongst other local traders.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
Comprises corner two-storey property, arranged as a ground floor shop and ancillary at first floor, providing the following accommodation and dimensions:
Ground Floor: 64 sq m (689 sq ft)
Open plan retail, Storage, WC
First Floor: 64 sq m (689 sq ft)
Ancillary
Ground Floor: 64 sq m (689 sq ft)
Open plan retail, Storage, WC
First Floor: 64 sq m (689 sq ft)
Ancillary
Tenancy Description
The shop is at present let to Coral Racing Ltd for a term of 16 years from 28th February 2011 at a current rent of £6,480 per annum and the lease contains full repairing and insuring covenants. The tenant is not in occupation.
Tenancies & Accommodation
Location Description
Stockton-on-Tees is a major commercial centre located approximately 30 miles south of Newcastle upon Tyne and 4 miles west of Middlesbrough. The town benefits from excellent road communications, being two miles west of the A19 link road and one mile north of the A66 dual carriageway, which links the A19 with the A1(M) Motorway. Stockton-on-Tees is a market town in County Durham, England. The town has a population of 85,000, with a population of around 196,000 in the wider area, the Borough of Stockton-on-Tees, according to 2017 estimates by ONS UK.
