Investment, 111 High Street, Skelton in Cleveland, Saltburn-by-the-sea TS12 2DY
- Retail Investment For Sale
- Central High Street Location
- Let to Cooplands & Sons
- Commercial Income of £12,000 pax
The property comprises a mid terraced, brick built property with duel pitched slate roof. The shop trades as Cooplands the Bakers over ground floor s...
The property is located the centre of Skelton near Marsk by the Sea. Local shops near by offer excellent amenity for residents.
The property comprises a mid terraced, brick built property with duel pitched slate roof. The shop trades as Cooplands the Bakers over ground floor sales and stores. The uppers have been converted to a two bed flat which Cooplands sub-let and is occupied on an AST. to rear. We understand the tenant pays £375 pcm to Cooplands and has occupied since August 2014.
The property has a permitted E Class use on the GF.
A Lease of the whole property let to Cooplands & Sons (Scarborough) Ltd on a 10 year lease from 1 October 2016 and ending 30 September 2026. No breaks. The passing rent is £12,000 pax. There was an open market, upward only rent review 1 October 2021 which has not been triggered. The lease is a tenants Full Repairing and Insuring lease without a schedule of condition.
Offers sought in the region of £130,000 (One Hundred & Thirty Thousand Pounds) exclusive, Subject to Contract, reflecting an attractive 9% Net Initial Yield (allowing for purchaser’s costs at 1.75%)
Ground floor sales : 489.00 sqft
Rear staff / office: 135.00 sqft
Total: 624.00 sqft