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Retail Property (High Street) in Middlesbrough

107 - 109 Linthorpe Road, Middlesbrough, TS1 5DH

Lot no: 8 Property type: Retail Property (High Street) Auction type: Unconditional with Fixed FeeWhere exchange occurs immediately on the fall of the gavel. The successful bidder will be legally obliged to exchange contracts, pay a 10% deposit (subject to a minimum of £5,000) together with the buyers fee of £1074 and complete within a set time period.

Guide Price* £228,000+plus fees Result Sold After Auction



An excellent opportunity to acquire a vacant three storey property with double retail unit on the ground floor with 2 floors of ancillary space above set within the heart of Middlesbrough town centre.

Property Description

Although the former tenants (Thomas Cook) have vacated the property their lease does not expire until December 25th 2019, paying £57,000 p.a. The property would suit an owner occupier or investor with a commercial property portfolio. The premises may suit conversion to residential subject to the obtaining the necessary planning consents. Middlesbrough is the major town within the Teesside conurbation. The town is located 40 miles south of Newcastle upon Tyne, 50 miles north of York and 64 miles north of Leeds. The A19 provides access to Junction 60 of the A1(M), 16 miles to the north-west, and the A66 provides access to Junction 57 of the A1(M), 19 miles to the west. The property is located on the west side of Linthorpe Road in Middlesbrough town centre and within close proximity to the Cleveland Shopping Centre. The A66 and Middlesbrough Rail Station both lie some 0.4 miles north of the property.

Ground Floor:

137.3 sq m (1478 sq ft)

First Floor:

105.1 sq m (1131 sq ft)

Second Floor:

113.1 sq m (1217 sq ft)

Tenure

Freehold. Commercial investment.


Conditions of Sale
The Conditions of Sale will be deposited at the offices of the auctioneers and vendors solicitors/licensed conveyancers prior to the auction and the purchaser shall be deemed to have knowledge of same whether inspected or not. Any questions relating to them must be raised prior to the auction. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.

The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.

A 10% deposit is payable on the fall of the gavel, subject to a minimum of £5,000.

*Guide Prices and Reserve Prices
Each property sold is subject to a Reserve Price. The Reserve Price, which is agreed between the seller and the auctioneer just prior to the auction, will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. Both the Guide Price and the Reserve Price can be subject to change up to and including the day of the auction. For a full definition of the Guide Price and the Reserve Price click here.

Energy Performance Certificates
EPCs can be viewed in full in the lot information section at the top of this page or in the legal pack.

Note
Prospective purchasers will need to register within the auction room before the sale commences. Two items of identity will be required together with an indication of how a contractual deposit will be paid. We do not take cash or cheque deposits. Remote bidding facilities are also available.

Auction Fees
The sale of each lot is subject to a buyer’s fee of £1,074 inc VAT (£895 + VAT) (unless otherwise stated in the important notices), payable on the fall of the hammer.

The purchase of this property may include associated fees not listed here. Any additional fees will be confirmed in the legal pack which can be downloaded from our website from the lot information section above. Or to find out more about any additional fees associated with this property please contact the auction office.