MapRetail property (high street) for sale
Features and description
- Tenure: Freehold
- Popular neighbourhood parade of shops
- Total income of £12,000 per annum
- Ground floor retail unit and 2 bedroom flat
- A19 is less than a mile to the west
- Enclosed rear yard
Freehold tenanted investment opportunity available for sale. The mixed use premises are situated on a popular neighbourhood parade of shops in Billingham on the south side of Station Road.
The ground floor retail unit is currently leased to a florist on fully repairing and insuring terms at £7,200 per annum. The premises briefly comprise of a double fronted unit with electric roller shutter. Open plan retail space with storage cupboards. Kitchen area with plumbing for an automatic washer and walk in storage.
The first floor is accommodation is accessed from the rear of the property and comprises of of 2 bedroom accommodation which is currently leased on an AST with an income of £4,800 per annum.
The property also benefits from a large garage space to the rear of the property; although this space is not currently accessible for use as a garage, as the door is fixed in place, it offers a large storage space which could be rented in addition to the shop tenant's space, or for private use.
Neighbouring occupiers include Newsagents, off-licence and general store, fish and chip shop, cafes, barbers, hairdressers and cafe, coffee shop, vets, funeral parlour and bridal and prom specialist retailer. The A19 is less than a mile to the west of the premises and provides excellent access to the local region.
Rooms
Location
The subject property is located within an established parade of retail premises on Station Road, Billingham, Teesside. The location is surrounded by significant residential development and benefits from passing trade. Access is provided to other parts of the region via the A19.
Accommodation
The premises briefly comprise of a double fronted unit with electric roller shutter. Open plan retail space with storage cupboards. Kitchen area with plumbing for an automatic washer and walk in storage. Enclosed rear yard. Previous uses have been as a beauty salon and more recently a general store. Potential for change of use subject to local planning permission.
Tenure
Freehold. Title number CE88185.
Rateable Value
The current rateable value is £4,950 (1 April 2023 to present).
Sourced from VOA.
EPC
Available Upon Request (Rating B).
Auctioneers Additional Comments
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.
Please be aware that any inquiry, bid or viewing of the subject property will require your details to be shared between both the marketing agent and The Auctioneer in order that all matters can be dealt with effectively.
This auction lot is being sold either by, conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.
The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via The Auctioneers or the Marketing Agents website.
Auctioneers Additional Comments
Your details may be shared with additional service providers via the marketing agent and/or The Auctioneer.
A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers' obligations and sellers' commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification and identity process in accordance with Anti Money Laundering procedures.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit of 5% of the purchase price of the lot subject to any special conditions detailed in the legal pack. The deposit will be a contribution to the purchase price. A non-refundable reservation fee may also be payable upon agreement of sale (Details of which can be obtained from the auctioneers website). The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.
Both the Marketing Agent and The Auctioneer may believe it necessary or beneficial to the customer to pass your details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.
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