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Commercial properties for sale in Redcar, North Yorkshire

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For Sale£1,500,000.00
ADDRESS: 37 High Street, Redcar, Cleveland, TS10 3BZ
• Let to Marks & Spencer-until March 2025
(no breaks)
• Rent Review 2019 • Town centre trading position within pedestrianised zone
• 16295 Sq. ft on ground and first floors
LOCATION
Redcar, with an estimated district population of 148,000, is a busy coastal town, some 10 miles north east of Middlesbrough,
30 miles East of Darlington and 19 miles south east of Hartlepool. Road communications are good, with easy access to the A19 at Middlesbrough, via the A174. Rail links to London Kings Cross. Teesside international airport is 20 miles away
SITUATION
The property is situated within the central pedestrianized zone on the north side of the High Street opposite Regents Walk Shopping Scheme. Occupiers close by include Boots (adjacent), Greggs, KFC, H Samuel Jewelers, W H Smith, Sports Direct and many other national retailers
DESCRIPTION
The property is arranged on ground and first floors to provide a large retail unit on the ground floor with ancillary accommodation above. The store has the benefit of a rear frontage to The Esplanade overlooking the seafront.
ACCOMMODATION
The property provides the following accommodation and dimensions:
Gross Frontage (44' 7") Net Frontage (41' 8") Shop & Built Depth (max) (236' 4")
Ground Floor Sales 8,845 sq. ft, First Floor 7450 sq. ft Total Sq. ft 16295 sq. ft
The Esplanade - Gross Frontage (42' 10")
TENANCY
The entire property is at present let to MARKS & SPENCER PLC for a term of 16 years from 25th March 2009 at a current rent of £145,000 per annum, exclusive of rates. The lease provides for rent reviews on the fifth and tenth anniversaries of the term and contains full repairing and insuring covenants. The tenant is not presently in occupation.
TENURE: Freehold VAT: Applicable
PRICE: Offers in excess of £1500,000 – 9 % Net
Freehold Retail Investment Let to Marks & Spencers Plc – Redcar Tenant No Longer in Occupation
Type: Retail
Location: 37 High Street, TS10 3BZ
Images: 5
Brochures: 1
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