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Lot 1 - 270 & 270a Norton Road, Stockton-on-Tees, Cleveland, TS20 2BX

Guide Price* Sold Prior

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Property Type
Mixed Use
Tenure
Freehold
Type
Commercial
Bidder Security Deposit
£3,500*

Property Summary

  • Freehold Traditional Fish & Chips Takeaway
  • Self-Contained Flat above
  • Sought after location within Teesside.
  • Investment producing £14,100 per annum (*see note)

Freehold lock up takeaway with a self-contained residential flat above. Investment producing £14,100 per annum (*see note)

Description

Traditional fish and chips takeaway with a self-contained residential flat above.

Location

The property fronting the Norton Road (A139) which runs into the market town of Stockon-on-Tees, is situated within a retail parade, serving a mixed residential and commercial catchment area; between the junctions of Grove Terrace and Mount Pleasant Road. Other occupiers nearby include Nisa Local / Post Office, Pizzerias, Norton Barbers, Chinese takeaway along with other local businesses. Further trade maybe gained from passing vehicular traffic going to the and from the town of Stockton. Public transport includes Stockton railway station. Recreational facilities can be found locally.

Tenancy Schedule

(Approximate dimensions)

Number Floor Accommodation Tenant Tenancy Rent
270a First / Attic floor self-contained flat (Approx. 77sq.m (828.82 sq.ft) Front reception room, Rear room (used as storage), Stairs to Bedroom, Kitchen, Shower room/WC - Let on an assured shorthold tenancy
for six months form 23/5/2024
£425 per month
270 Ground floor Shop (Approx. 65.03 sq.m (700 sq.ft) Sales Area, Preparation Area, Storeroom, Separate WC.
Outside: Rear Yard
Norton Road Fish Bar Let on a lease
for a term of 7 years from 1/3/2020.
(Rent reviews
every 2 years)
£750 per month
(*See note)
Total current rent received £14,100 per annum (*see note below) Note: We have been advised by the vendor that the shop has now undergone a rent review and the rent payable has been increased to £750 per month, with effect from the 1st September 2024. Therefore, the Total Rent reserved is £14,100 per annum.

EPC Rating

270a (Flat) – D
270 (Shop) – B

VAT

Please refer to the legal documents

Disclaimer*

* Guide Prices are provided as an indication of each seller's minimum expectation (also known as the 'Reserve Price'). They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve Price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide Price.

The Guide Price for the Lot does not include the Buyers Administration Fee of £1,500 (inclusive of VAT). In addition, the Guide Price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.

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Documents

Property Map

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Dominic Smith
07999023451
SW Property Auctions,
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87-88 Bartholomew Close,
London,
EC1A 7BL

Vendors Solicitor

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Greysmith Legal
Kayleigh Rayner
01287 653 990