0 Bed Retail Property (high Street) To Rent

LOCATION

The property is located within the seaside town of Redcar, 7.5 miles north east of Middlesbrough, 20 miles north west of Whitby and 7.5 miles south east of Hartlepool.

Redcar is a well-established retail centre accommodating local, regional and national occupiers including Costa, Vodafone, B&M and Greggs. The subject property occupies a prime trading position on the pedestrianised section of the High Street and is positioned between Charles Clinkard and Coral, opposite Halifax and Cancer Research.

The seafront and esplanade area, approximately 100m north, have undergone significant regeneration in recent years including development of the Redcar Beacon, cinema complex and extensive landscaping.



DESCRIPTION

The property comprises an attractive, three storey, mid terraced building arranged to provide a former banking hall and self contained office accommodation.

5 High Street, formerly occupied by NatWest Bank, is arranged to provide a ground floor retail unit and benefits from offices and staff amenities.

5a High Street, known as Coatham House, is arranged to provide office and staff accommodation over three floors with separate access from West Terrace Back Street

Externally the property provides parking for 4 / 5 vehicles to the rear. The property is available as a whole however the landlord would consider a letting of ground floor only or upper floors only.



ACCOMMODATION

5 High Street

Ground Floor

Sales 155.40 sq m (1,673 sq ft)

Office 43.50 sq m ( 468 sq ft)

Storage 50.10 sq m ( 539 sq ft)

WC

5a High Street

First Floor

Offices 97.20 sq m (1,046 sq ft)

WC

Second Floor

Offices 108.80 sq m (1,171 sq ft)

5 & 5a High Street

Total 455.00 sq m (4,897 sq ft)



PROPOSED TERMS

5 High Street (whole) is available for a term of years to be agreed at £18,000 per annum on a full repairing and insuring lease.

5 High Street (ground) is available for a term of years to be agreed at £15,000 per annum on effectively full repairing and insuring terms

5a High Street (upper floors) is available for a term of years to be agreed at £6,500 per annum on effectively full repairing and insuring terms.

PROPOSED TERMS



5 High Street (whole) is available for a term of years to be agreed at £18,000 per annum on a full repairing and insuring lease.



5 High Street (ground) is available for a term of years to be agreed at £15,000 per annum on effectively full repairing and insuring terms



5a High Street (upper floors) is available for a term of years to be agreed at £6,500 per annum on effectively full repairing and insuring terms.



The landlord would consider selling the freehold and offers in the region of £195,000 would be considered.





RATING ASSESSMENT

The property has the following Rateable Values:

5 High Street - £17,500

5a High Street - £11,500

Interested parties should contact Redcar & Cleveland Council for the exact rates payable.



LEGAL COSTS

Each party is responsible for their own legal costs.



VAT

We are advised that the property is not elected for VAT and no VAT will apply to the purchase price.



VIEWING

All viewings are strictly by prior appointment.

Contact: Jack Robinson