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  5. Stockton-on-Tees
  6. Norton, Durham

4-8 Norton Rd, Stockton On Tees

Retail storefront for sale in Norton, Durham, Stockton On Tees

£300,000 / 3,702 sq ft

by Blue Alpine Partners Ltd
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Highlights

Features

Full address
4-8 Norton Rd, Stockton On Tees TS18 2BN – Norton, Durham
Asking price
£300,000
Links
Blue alpine team bios
Additional property information – blue alpine
Pdf #1 marketing brochure/flyer

Sale details

There is 1 space available. This measures 3,702 sq ft.

Sale unit Available

Unit
Sale unit
Size
3,702 sq ft
Price
£300,000
Price per sq ft
£81.04
  • Investment Consideration: Gross Initial Yield: 5.85% Rental Income: £17,536.83 p.a. VAT is NOT applicable to this property Prominent Grade II listed building Comprises two ground floor shops with basement (no access) and 4 x 1-Bed Flats arranged over first and second floor.
  • Total area size of 344 sq m (3,702 sq ft) Development potential to renovate the building and develop additional residential accommodation (subject to obtaining the necessary consents) Property benefits from building restoration grants which covers 73.5% of the eligible costs (ref.
  • Stockton Northern Gateway Townscape Heritage Project) Occupiers close by include Argos, Debenhams and Costa Coffee, amongst a range of local traders.
  • Property Description: The property, which is Grade II listed, is arranged on basement (no access), ground and two upper floors to provide a double fronted ground floor shop, an additional ground floor lock-up shop to the rear and a separately accessed staircase leading to four flats on the upper floors.
  • The property provides the following accommodation and dimensions: Ground Floor - 160 sq m (1,722 sq ft) Two Retail Shops (1 x Double Fronted) First Floor: Flat 1 - 35 sq m (377 sq ft) Bedroom, Kitchen, Living Room, Bathroom/WC Flat 2 - 45 sq m (484 sq ft) Bedroom, Kitchen, Living Room, Bathroom/WC Second Floor: Flat 3 - 67 sq m (721 sq ft) Bedroom, Kitchen, Living Room, Bathroom/WC Flat 4 - 37 sq m (398 sq ft) Bedroom, Kitchen, Living Room, Bathroom/WC Total area size: 344 sq m (3,702 sq ft).
  • Development: The Stockton Northern Gateway Townscape Heritage project will focus on heritage around the Northern end for the High Street leading into Norton Road.
  • Grants are available for exterior repairs and reinstatement of historic features using high quality natural materials and traditional methods, and for structural requirements to ensure the future viable use of the premises.
  • Works must be carried out in a way which protects and enhances the fabric and character of historic buildings and which preserves or enhances the character and appearance of the area.
  • Grant Rate: The grant rate available is 73.5% of eligible costs.
  • The maximum grant available is property dependent, the TH Officer is able to advise further on this.
  • Tenancy: The entire property is at present let to CORAL RACING LIMITED for a term of 16 years from 28th February 2011 at a current rent of £15,500 per annum.
  • The lease provides for a rent review in September 2021. The rent is to be increased by a minimum of 2.5% per annum compounded.
  • Therefore the rent will rise to a minimum of £17,536.83 per annum in September 2021. The lease contains full repairing and insuring covenants.
  • The tenant is not currently in occupation.
  • We understand that Flats 1-4 are sub-let to Thirteen Group until 2023 at a current rent of £5,858.95 per annum.
  • Location: Stockton-on-Tees is a major commercial centre located approximately 30 miles south of Newcastle upon Tyne and 4 miles west of Middlesbrough.
  • The town benefits from excellent road communications, being two miles west of the A19 link road and one mile north of the A66 dual carriageway, which links the A19 with the A1(M) Motorway.
  • This corner property is situated on the east side of Norton Road, at its junction with King Street.
Sale type Investment
Tenure Freehold
More building details Less building details

Property facts for 4-8 Norton Rd, Stockton On Tees

The property, which is Grade II listed, is arranged on basement (no access), ground and two upper floors to provide a double fronted ground floor shop, an additional ground floor lock-up shop to the rear and a separately accessed staircase leading to four flats on the upper floors. The property provides the following accommodation and dimensions: Ground Floor - 160 sq m (1,722 sq ft) Two Retail Shops (1 x Double Fronted) First Floor: Flat 1 - 35 sq m (377 sq ft) Bedroom, Kitchen, Living Room, Bathroom/WC Flat 2 - 45 sq m (484 sq ft) Bedroom, Kitchen, Living Room, Bathroom/WC Second Floor: Flat 3 - 67 sq m (721 sq ft) Bedroom, Kitchen, Living Room, Bathroom/WC Flat 4 - 37 sq m (398 sq ft) Bedroom, Kitchen, Living Room, Bathroom/WC Total area size: 344 sq m (3,702 sq ft) Tenancy: The entire property is at present let to CORAL RACING LIMITED for a term of 16 years from 28th February 2011 at a current rent of £15,500 per annum. The lease provides for a rent review in September 2021. The rent is to be increased by a minimum of 2.5% per annum compounded. Therefore the rent will rise to a minimum of £17,536.83 per annum in September 2021. The lease contains full repairing and insuring covenants. The tenant is not currently in occupation. We understand that Flats 1-4 are sub-let to Thirteen Group until 2023 at a current rent of £5,858.95 per annum.

Building subtype
Retail storefront
Number of storeys
3
Rentable building area
3,702 sq ft
Year built
1990

Major tenants

Name Description Size Move in date Locations
Coral Racing Limited Description - Size 1,487 sq ft Move in date - Locations -

This shop for sale is located in Norton, Durham.

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Meet the team

Blue Alpine Partners Ltd

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Disclaimer. Property descriptions, images and related information displayed on this page are based on marketing materials found on the website registered to Blue Alpine Partners Ltd. Realla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Blue Alpine Partners Ltd for full details and further information. 10971864