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Retail property (high street)

Auction
Retail property (high street)
Added > 14 days

Features and description

  • Tenure: Freehold
  • Long leasehold ground floor retail investment
  • Pedestrianised town centre location
  • Close to numerous national retailers
  • Let until 2034 (subject to break opton in 2029)
  • Guide price reflects a gross initial yield of 16.67%
  • Producing £10,000 per annum
  • Online Auction on Thursday, 12 December 2024

The ground floor only of a three storey building arranged as a retail unit totalling approximately 45.26 sq m (487 sq ft).


Location:

The market town of Stockton-on-Tees lies within County Durham about 10 miles east of Darlington and 21 miles south east of Durham. It can be accessed via the A66(M) and A19 with the former providing access to the A1(M) to the west. Stockton railway station provides regional rail services and Teesside International Airport lies about 8 miles to the south west. The town has recently benefitted from a £60m regeneration of the High Street, which is the widest in the UK. 

Dovecot Street is one of the principal shopping thoroughfares in the town centre running west from High Street. The property lies on the north side of the street in a pedestrianised zone next to Wellington Square Shopping Centre where occupiers include WH Smith, The Works, Holland and Barrett and Caffe Nero. Other nearby occupiers include William Hill, Three, Halifax, Virgin Money and NatWest.


Online Auction on Thursday, 12 December 2024. For further information, such as legal documents and property information, please visit bidx1.com.
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About this agent

Bidx1 - London
Bidx1 - London
Henry Wood House, 4-5 Langham Place London W1B 3DG
020 8033 0374
Full profileProperty listings
BidX1 are market-leaders in the digitalisation of property transactions, allowing buyers and sellers across the globe to complete transactions online in the most efficient and transparent manner. We combine industry-leading property expertise with proprietary technology to provide unparalleled levels of transparency, analytics and global reach, challenging the traditional process of marketing and transacting real estate. Our technology facilitates end-to-end online transactions, from listing to exchange of contracts.  To date BidX1 has sold over 10,000 properties through their digital platform, attracted visitors from 173 countries and buyers from 32 countries. A total value of £1.7 million worth of property sold has been sold via our digital platform.  BidX1 currently operates in the UK, Ireland, South Africa, Spain and Cyprus, with further expansion into other European markets planned to meet the demand for an alternative to existing sale processes. BidX1 has a varied customer base, including multiple institutional investors, banks, listed vehicles, receivers, liquidators and propcos, as well as individual private sellers wishing to avail of the transparency and data that the digital platform provides.  Their innovative approach has earned them recognition in the form of a number of accolades, including the Irish Times' New Frontiers Award 2018 and the Investment Award 2018 at the Estates Gazette Tech Awards. BidX1 has also been shortlisted for Newcomer of the Year and Proptech Innovator of the Year at the Property Awards 2019 as well as for Proptech Company of the Year at the PROPS Awards 2019.
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