Freehold Retail Parade, High Newham Court, Hardwick
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
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.
The service charge is operated by the current freeholder and charges management fees of £6,735. A budget report is available upon request.
The property is elected for VAT. It is anticipated that the transaction will be treated as TOGC.
Available upon request
Buyer is to make a contribution to the surveyors fees at 1.5% of sale price.
Invest and Develop