Wellington Street, Stockton-On-Tees, Durham, TS18
£52.84 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
1,495 sq ft
139 sq m
- SECTOR
High street retail property for sale
- USE CLASSUse class orders: Class E
E
Key features
- Income of £7,500 per annum
- Established location
- Prime retail unit
- 5 year term expiring October 2026
Description
The property is situated in a prime position on the north side of Wellington Street located between the principal shopping areas of Wellington Square and Stockton High Street.
This is a central location popular with both local, regional and national retailers and nearby occupiers include; Thirteen Group, CeX, Vision 25, Max Spielman, Barclays Bank and Heron Foods.
Wellington Street has heavy footfall due its position between Wellington Square Car Park and the main public transport links of the town centre.
Description
The property comprises a mid-terraced, two storey, building arranged to provide a ground floor retail unit together with integral ancillary accommodation at first floor level.
Previously occupied by Newboulds Butchers, for a number of years, the property is now let as a health store and benefits from dumbwaiter and first floor cold store.
Accommodation
The property provides the following accommodation approximately:
Ground Floor
Sales Area: 73.52 sq m ( 791 sq ft)
First Floor
Various Store Rooms: 65.42 sq m ( 704 sq ft)
Wc's
Total: 138.94 sq m ( 1,495 sq ft)
TENURE
The property is let to Protein Superstore on Full Repairing and Insuring terms at an annual rent of £7,500 per annum exclusive for a period of 5 years expiring 30 October 2026. The tenant has been in occupation at the property since 2016 and renewed the lease from 2021.
A copy of the lease is available on request.
PROPOSED TERMS
Offers are invited in the region of £79,000 for the freehold interest subject to the existing lease which would show a purchaser a gross initial yield of 8.33%.
BUSINESS RATES
The property has a Rateable Value of £7,600 and therefore qualifies for Small Business Rates relief. To determine the exact rates payable we would advise getting in contact with Stockton Borough Council.
LEGAL COSTS
Each party will be responsible for their own legal costs in connection with the transaction.
ENQUIRIES
All enquiries and viewing arrangements are to be directed through Thomas Stevenson.
Contact Jack Robinson / Paul Stevenson on
VIEWING
Viewings can be arranged by contacting Thomas : Stevenson direct.
Subject to Contract.
Brochures
Wellington Street, Stockton-On-Tees, Durham, TS18
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Stockton Station0.3 miles
- Thornaby Station0.7 miles
- Eaglescliffe Station2.9 miles
About Thomas : Stevenson, Middlesbrough
Wellington House Wellington Court Preston Farm Business Park Stockton-On-Tees TS18 3TA
Thomas : Stevenson was established in January 2004 by Neil Thomas and Paul Stevenson two well known Chartered Surveyors within the North East commercial property industry.
Focusing on Commercial Property Consultancy Thomas : Stevenson primarily deal with shops, offices, industrial property and land. Our team has over 40 years combined experience at a senior level and specialises in the Teesside, North Yorkshire and wider north east commercial property markets.
We have a proven tra
Notes
Disclaimer - Property reference 6WellingtonSquare. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Thomas : Stevenson, Middlesbrough. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
Map data ©OpenStreetMap contributors.