£79,000

Retail premises for sale

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Under offer

£79,000

(£60.20/sq. ft)

Retail premises for sale

Wellington Street, Stockton-On-Tees TS18

1,495 sq. ft

Local area information

Property location

Nearby amenities

  • Mill Lane Primary School 0.2 miles
  • Stockton 0.3 miles
  • Tilery Primary School 0.6 miles
  • Thornaby 0.7 miles

These distances are calculated in a straight line. The actual route and distance may vary.

Features and description

  • Income of £7,500 per annum
  • Established location
  • Prime retail unit
  • 5 year term expires October 2026
Location

The property is situated in a prime position on the north side of Wellington Street located between the principal shopping areas of Wellington Square and Stockton High Street.

This is a central location popular with both local, regional and national retailers and nearby occupiers include; Thirteen Group, CeX, Vision 25, Max Spielman, Barclays Bank and Heron Foods.

Wellington Street has heavy footfall due its position between Wellington Square Car Park and the main public transport links of the town centre.

Description

The property comprises a mid-terraced, two storey, building arranged to provide a ground floor retail unit together with integral ancillary accommodation at first floor level.

Previously occupied by Newboulds Butchers, for a number of years, the property is now let as a health store and benefits from dumbwaiter and first floor cold store.

Accommodation
The property provides the following accommodation approximately:

Ground Floor
Sales Area: 73.52 sq m ( 791 sq ft)

First Floor
Various Store Rooms: 65.42 sq m ( 704 sq ft)
Wc's

Total: 138.94 sq m ( 1,495 sq ft)
Tenure


The property is let to Protein Superstore on Full Repairing and Insuring terms at an annual rent of £7,500 per annum exclusive for a period of 5 years expiring 30 October 2026. The tenant has been in occupation at the property since 2016 and renewed the lease from 2021.

A copy of the lease is available on request.
Proposed terms


Offers are invited in the region of £79,000 for the freehold interest subject to the existing lease which would show a purchaser a gross initial yield of 8.33%.
Business rates


The property has a Rateable Value of £7,600 and therefore qualifies for Small Business Rates relief. To determine the exact rates payable we would advise getting in contact with Stockton Borough Council.
Legal costs


Each party will be responsible for their own legal costs in connection with the transaction.
Enquiries


All enquiries and viewing arrangements are to be directed through Thomas Stevenson.

Contact Jack Robinson / Paul Stevenson on
Viewing


Viewings can be arranged by contacting Thomas : Stevenson direct.

Subject to Contract.

Floor plans and tours

Floor plans (1)

Floor plan 1

More information

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Property descriptions and related information displayed on this page are marketing materials provided by - Thomas Stevenson. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Thomas Stevenson for full details and further information.

  1. Zoopla
  2. Commercial for sale
  3. County Durham
  4. Teeside
  5. Stockton-on-Tees
  6. Wellington Street

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