The properties are located centrally within Redcar on the northern side of the high street.
Redcar is a busy coastal town on the eastern edge of the Teesside conurbation on the North East coast of England, with the city of Middlesbrough located just 10 miles West of property, 30 miles East of Darlington and 19 miles south east of Hartlepool ideal for commuters with various regular transport links. Redcar central station is located 0.4 miles from the property.
The town its self offers a range of local amenities including supermarkets, shops both convenience and retail, bars, restaurants, local schooling and the delightful Redcar beach.
The sizable property and land on offer provide an ideal investment opportunity with varied options and the potential to increase value.
The lots include 128 High Street, Redcar – Ground floor retail premises (currently tenanted by Redcar Models until 2021)
128A High Street, Redcar – Four story office building, ideal as offices as current or with the potential to purchase plans with consent to convert into three, one bedroom flats
77 Lord Street – Former car sales site currently tenanted to Bubbles Car Valeting Services until 2020.
79 Lord Street – Plot of land (utilized as car parking) currently tenanted to Bubbles Car Valeting Services until 2020.
Property not measured.
We understand the property has mains electric, water and drainage.
128 High Street is currently tenanted until 2021 with a rental of £4,800 pa.
77/79 Lord Street are currently tenanted until 2020 with a rental of £4,800 pa. Representing a gross yield of 11.29%.
We believe there is potential to increase the over all yield if the vacant offices are converted into flats.
The property is currently being re-assessed for rating purposes.
We would recommend that any interested parties contact the local authorities directly to determine the precise rates payable.
Please note an inspection of this property has not been undertaken.
To view this property, please contact John Pye Property – email@example.com – 0115 970 6060
128 – 128a High Street
✓ Commercial investment opportunity
✓ Tenanted retail shop & car park
✓ Vacant offices have potential for conversion to three flats
✓ Total income: £9,600 pa
✓ Yield of 11.29%
✓ Site and car parking currently tenanted by Bubbles Car Valeting Services for £4,800 pa
✓ Retail Shop (Redcar Models) currently tenanted for £4,800 pa
Phone: 0115 970 6060
Our Ref: PR192