For Sale

100/100a High Street, Stockton on Tees TS18 1DB

1,126 Sq Ft
£165,000
  • Ref: CPNE_101586
  • Type: Retail
  • Availability: For Sale
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Property Features

  • Income producing investment
  • Low risk Creditsafe rating score A 96
  • Natwest, Santander, Age UK close by
  • Uppers maybe suitable for conversion

Property Summary

The retail investment is in Stockton High Street. The unit is opposite on street parking which presently provides 1 hour free parking. The shop is situated opposite the site of the proposed new public realm and council offices which will replace the Castlegate Shopping Centre ...

Full Details

The retail investment is in Stockton High Street. The unit is opposite on street parking which presently provides 1 hour free parking. The shop is situated opposite the site of the proposed new public realm and council offices which will replace the Castlegate Shopping Centre during 2022 as part of the council’s regeneration plans.

Stockton is located on the banks of the River Tees, approximately 6 miles East of Middlesbrough and 45 miles South of Newcastle upon Tyne. The town has excellent road links to the A66 which provides access to the A19 and A1(M) networks.

The shop has a timber shop front. The shop unit is self-contained on ground. To the rear of the shop is a WC and staff area.

The premises offer the potential to split the property for separate lettings and development of the uppers in the future.

The whole property is let to Luxury Leisure on full repairing and insuring lease at a rent of £15,000 per annum exclusive for term of 5 years from 31 July 2021. There is a tenant only break in the lease 31 July 2023 on 6 months’ notice.

COVENANT
Luxury Leisure, trading as Admiral, is a market leading provider of slots and gaming entertainment in the UK with over 230 high street units. Admiral offers the ultimate gaming experience, showcasing the best casino and classic slot games available on both the most technologically advanced slot machines and traditional “fruit machines.” Luxury Leisure is also home to Kwik Tan, a market leading UV Tanning service with over 40 salons across England, and 5 catering outlets, including ‘The Coffee Trader’.

Luxury Leisure makes up 22.5% of the total AGC venues in Great Britain. A full rebranding and refurbishment program took place recently reflecting the new Admiral brand.

Offers in the region of £165,000 are sought for the freehold property subject to the lease, and subject to contract.


Accommodation:
Ground floor sales : 1,126.00 sqft
First & second floor: 0.00 sqft
Total: 1,126.00 sqft