The Property is located on Yarm Lane which is located close to the centre of Stockton-on-Tees.
Stockton-on-Tees offers a range of local & national retailers along with plentiful bars and restaurants. The train station is within walking distance from the subject property.
The A66 linking to Middlesbrough and Darlington is just a 5 minute drive away. In addition the A66 provides easy access to the A1 motorway.
The property comprises two A5 hot food takeaways together with a large hall above which previously had planning consent for conversion to 2 x 2 bedroom self contained flats. The planning consent has now expired, however, we believe if it was re-applied for a new consent would be granted. Alternatively the property can be used for other uses (STP).
At ground floor level there are two retail units, previously occupied as fast food takeaways. Each of the units have previously generated an income of £7,200 pa.
The majority of the fixtures and fittings of these establishments are all included in the sale price of the units.
The property has previously had planning consent to convert the upper hall of the building into 2 x 2 bedroom self contained flats.
It is envisaged that once complete each flat will generate an income of £4,800pa subject to planning.
The rental income from each of the retail units will be in the region of £7,200pa.
We understand the property has mains gas, electricity, water and drainage.
Please contact Stockton on Tees Council.
No VAT payable on purchase price.
Viewing by Appointment
To view this property, please contact John Pye Property – email@example.com – 0115 970 6060
76 & 76a Yarm Lane
Stockton on Tees
✓ 2 x established A5 takeaway units
✓ Previously had planning consent to convert upper hall to 2 x two bedroom self-contained flats
✓ Potential rental income from shops and accommodation £24,000 pa (STP)
✓ Potential 17% gross yield
✓ Prominent high street position
Richard Reed, RICS
Phone: 0115 970 6060
Our Ref: PR023