Next auction Thursday 15th August 2.30PM

148 High Street, Stockton-on-Tees, Cleveland, TS18 1PL



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Guide price

£125,000+


Property Type

Investment


Key Features

  • An opportunity to acquire a retail investment property let and producing £17,000 pa (rising to £19,000 pa in March 2024)
  • Let to Furniture Express Stockton
  • Town centre location adjacent to Stockton Globe, a music and comedy venue

Part of the 26 October 2023 auction
The Nottingham Racecourse at 2.30PM

An opportunity to acquire a retail investment property let and producing £17,000 pa (rising to £19,000 pa in March 2024) in the heart of Stockton Town Centre.

  • Ground floor retail unit extending to 2,448 sq ft
  • Adjacent Stockton Globe, a multi-million pound development
  • Stockton Globe provides a popular Music & Comedy venue
  • Close to the Wellington Square Shopping Centre
  • Let to Furniture Express Stockton
  • Comprising spacious open plan trading areas
  • Includes storage area and WC's
  • Good display frontage with central recessed entrance
  • An internal viewing is highly recommended

Contact Auction Estates on 0115 7844 600

Fees

A buyer's premium of £1,440 inc VAT (£720 inc VAT if the sale price is less than £10,000) is applicable to each lot purchased. The Seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of sale. Buyers are deemed to bid in full knowledge of this.

Guide Prices and Reserve Prices

Each property sold is subject to a Reserve Price. The Reserve Price, which is agreed between the seller and the auctioneer just prior to the auction, would ordinarily be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. Both the Guide Price and the Reserve Price can be subject to change up to and including the day of the auction.

Conditions of Sale

The Conditions of Sale will be deposited at the offices of the auctioneers and vendors solicitors/licensed conveyancers seven days prior to sale and the purchaser shall be deemed to have knowledge of same whether inspected or not. Any questions relating to them must be raised prior to 11.30 am. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.

The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.

The property is offered For Sale on a new Long Leasehold for a term of 250 years. The property is offered on a Freehold basis, subject to the existing tenancy. The property is let to Furniture Express Stockton on a lease expiring June 2027. The current rent reserved is £17,000 pax and there is a rent review on 21st March 2024 where the rent will increase to £19,000 pax.

Refer to Legal Pack

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