REF: 183501682

For Sale

Freehold Retail Parade, High Newham Court, Hardwick

Description

Location

Hardwick is located in the West of the borough of Stockton On Tees and has a population of in excess of 8,500 with the borough of Stockton having a population of 197,348 (2019)

The fully occupied shopping parade is opposite North Tees Hospital and nearby occupiers include Spa, Greggs and Subway.

Meadow Rise housing development which was recently completed adding 780 homes to an already densely populated housing estate.

Ample free parking is provided in nearby public car parks

Accommodation

12 retail units creating over 14,900sqft situated on the ground floor with 24 apartments on the upper floors that have all been sold on long leasehold. The ground floor generates a rental income of £52,422 per annum.

The 24 apartment’s generate a ground rental income of £2,700 P.A

Total area 1.07 acres.

Service Charge

The service charge is operated by the current freeholder and charges management fees of £6,735. A budget report is available upon request.

VAT

The property is elected for VAT. It is anticipated that the transaction will be treated as TOGC.

EPC

Available upon request

Fees

Buyer is to make a contribution to the surveyors fees at 1.5% of sale price.

O.I.R.O £640,000

Specifications

Invest and Develop

TBC

640000

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