There is a new twelve months AST on Flat 49b with effect from 07/12/2020 at a rent of £100 per week. The total current income remains unchanged. The application to close the old leasehold title is currently with HM Land Registry
- Freehold mixed use investment
- Includes a retail unit and three flats
- Established retail parade
- Fully let
- Producing £19,800 per annum
Middlesbrough on the north east coast about 23 miles south east of Durham and 35 miles south east of Newcastle upon Tyne. The town can be accessed via the A66, A172 and A19 with the former providing access to junction 58 of the M1(M). Middlesbrough railway station provides regional rail services whilst Middlesbrough bus station provides regional and national bus and coach services.
Borough Road forms part of the B1272 at the southern edge of the town centre. The forms part of an established retail parade on the south side of the road at its junction with Amber Street. Nearby occupiers include Richer Sounds and Ladbrokes and is within a short walking distance from The Cleveland Centre, the main shopping mall in the town and home to numerous national retailers.
A prominent end of terrace corner building of traditional construction beneath a pitched roof arranged over part single and part three stories. The building is arranged as a ground floor retail unit with three self contained one bedroom flats at first and second floor levels. The flats have separate access from Amber Street at the side of the property.
Middlesbrough Borough Council (01642 729377) www.middlesbrough.gov.uk
Please refer to Legal Documents
|Address||Accommodation||Tenancy||Rent per annum|
|TOTAL|| || ||£19,800|
|Ground floor||Retail 22.01 sq m (237 sq ft)||Let to Zhen Guan t/a Crystals Rainbow Beauty & Nail Studio from 01/01/2019 to 31/12/2021||£4,200|
|49a||One bedroom flat||AST (holding over)||£5,200 (1)|
|49b||One bedroom flat||AST (holding over)||£5,200 (1)|
|49c||One bedroom flat||AST (holding over)||£5,200 (1)|
(1) Annual equivalent rent
*Terms and Conditions
Buyers are strongly advised to read these terms and conditions, and check the Special Conditions and any applicable Addendum, prior to bidding on a Lot. Additional costs, charges and encumbrances may apply for Buyers once they have made a successful bid in relation to a property.
- The reserve price is the minimum price at which the property can be sold at auction.
- Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the guide price, or range of prices, is published. The sale price, whether prior to or at the auction, can be above or below the guide price depending upon market activity. BidX1 and the seller accept no responsibility for any losses, costs or damages incurred by a buyer as a result of relying on any guide price. The buyer must decide how much they should bid for any Lot. All guide prices are quoted subject to contract. Guide prices given by BidX1 or the seller cannot be accepted by the buyer as being a professional valuation for any purpose in accordance with the requirements or guidance notes of relevant professional bodies or other authorities.
- Both the guide price and the reserve price may be subject to change up to and including the day of the auction. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any Lot may exceed the previously quoted guide price (as the seller may fix the final reserve price just before bidding commences).
- The guide price for the Lot does not include the administration fee of £1,250 (inclusive of VAT) charged by BidX1. In the case of a joint agent this administration fee will be £2,400 (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.
- To participate in the sale BidX1 must hold a minimum amount from all bidders. This participation amount and administration fee is fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £4,750 comprises £3,500 relating to your bidder security (partial deposit payment) and an administration fee payable directly to BidX1. A higher participation amount may be payable depending on the reserve price of the Lot.
- Please note that Lots may be sold or withdrawn prior to auction.
- All lots sold “Subject to Vendor Confirmation” will be subject to the acceptance and confirmation by the Vendor. The highest bid will be presented to Vendor, the vendor will have to either accept, decline or make a counter offer the highest bid within the confirmation period. Should the Vendor decide to make a counteroffer, then a private link will be sent to the Highest Bidder advising the offer the Vendor is willing to accept. The Highest Bidder will have to either accept or reject the Vendor’s counteroffer. The Vendor reserves the ultimate right, apart from the auctioneer, to accept and to decline to sell to the highest or any bidder, without giving any reasons.
- No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the seller in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the seller. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the seller. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller.