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25 West Row & 1-4 Ship Inn Yard, Stockton on Tees, TS18 1BX

  • Auction
  • Lot 12
  • United Kingdom
  • Mixed Use
  • Commercial

Sold for £180,000

Addendum

Completion shall be 6 weeks from the date of exchange of contracts

Property Summary

  • Freehold retail and residential investment
  • Arranged as three retail units and 2x one bedroom cottages
  • Asset management opportunities
  • Town centre location
  • Producing £21,748 per annum

Contact Us

Simon Bailey
Simon Bailey
Property Agent, here to help.
James Armstrong
Vendor's Solicitor

Contact Us

Simon Bailey
Simon Bailey
Property Agent, here to help.
James Armstrong
Vendor's Solicitor

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Property description

A terrace of five buildings of traditional construction beneath a part pitched and part flat roof. Three of the buildings (25 West Row plus 2 and 3 Ship Inn Yard) are arranged as retail units with ancillary accommodation at first floor level whilst the remaining two buildings are arranged as one bedroom cottages (1 and 4 Ship Inn Yard). Number 3 Ship Inn Yard and 25 West Row have recently undergone a full refurbishment.

Location

The market town of Stockton-on-Tees lies within County Durham about 10 miles east of Darlington and 21 miles south east of Durham. It can be accessed via the A66(M) and A19 with the former providing access to the A1(M) to the west. Stockton railway station provides regional rail services and Teesside International Airport lies about 8 miles to the south west. The town has recently benefitted from a £60m regeneration of the High Street, which is the widest in the UK. 

West Row lies in the town centre and runs south from Dovecot Street with the 25 West Row lying on its west side at the junction with Ship Inn Yard, with the remaining buildings lying on the north side of Ship Inn Yard.

Planning

Stockton-on-Tees Borough Council (01642 526022) http://www.developmentmanagement.stockton.gov.uk

Tenure

Freehold

Additional Details

AddressFloorAccommodationSizeTenancyRentPA
TOTAL    £21,748
25 West RowGround/firstRetail/ancillary65.03 sq m (700 sq ft)Let to an individual t/a Infinity Hairdressers for 9 years from 01/06/2019£8,000 (1)
1 Ship Inn YardGround/firstResidential - one bedroom cottage38.65 sq m (700 sq ft)Let to Stockton Flats for 7 years from 01/08/2016 (2)£2,812 (3)
2 Ship Inn YardGround/firstRetail/ancillary38.65 sq m (700 sq ft)Let to individual t/a as a gift shop for 9 years from 01/02/2020 (4)£3,360 (5)
3 Ship Inn YardGround/firstRetail/ancillary38.65 sq m (700 sq ft)Let to an individual t/a a hair salon for 3 years from 01/09/2019£4,900
4 Ship Inn YardGround/firstResidential - one bedroom cottage38.65 sq m (700 sq ft)Let to Stockton Flatd for 7 years from 01/08/2016 (2)£2,812

(1) Rent review on 01/06/22 & 01/06/2025
(2) The tenant is well established in the Teesside area with over 40 years experience of owning and letting residential property. This is the second tenancy that the tenant has taken
(3) Rent review on 01/08/2013
(4) The tenant has been in occupation for over 10 years & there is a tenant's break clause at the third & sixth year
(5) Annual rent reviews

VAT

Please refer to Legal Documents

BER Details

Please refer to the legal pack

Helpful links

*Terms & 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.

  1. The reserve price is the minimum price at which the property can be sold at auction.
  2. 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.
  3. 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).
  4. The guide price for the Lot does not include the administration fee of £1,295 (inclusive of VAT) for all properties up to £49,999, and £2,400 (inclusive of VAT) for all properties £50,000 and above 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.
  5. 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 £4,795 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.
  6. Please note that Lots may be sold or withdrawn prior to auction.
  7. All Lots sold “Subject to Vendor Confirmation” will be subject to acceptance and confirmation by the Vendor. The highest bid will be presented to the Vendor, the Vendor will have to either accept, decline or make a counteroffer, within the confirmation period. Should the Vendor decide to make a counteroffer, then a private link will be sent to the Highest Bidder advising of the offer the Vendor is willing to accept. The Highest Bidder will be obliged to 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.
  8. 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.
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