35 Redhill Road, Stockton-on-Tees, TS19 9BX
|Size||2,004 sq ft|
|Energy Performance Rating||This property has been graded as 97 D|
Stockton on Tees has a resident population of some 83,576 and forms part of the Teesside Urban Complex, a major commercial centre located 30 miles south of Newcastle upon Tyne. The town itself benefits from excellent road communications, being 2 miles west of the A19 and 1 mile north of the A66 which links with the A1(M) motorway.
The property itself is located 2 miles north west of the town centre in a predominantly residential location off the main A177 Durham Road. The unit is situated in local neighbourhood parade with other occupiers including Coral Bookmakers, Co-op, pharmacy and other various local occupiers including hairdresser, take away restaurants and bakery.
The property comprises an end of terrace two storey brick building under a pitched roof. It is arranged as a ground floor convenience store with a separately accessed hairdresser salon on the first floor. There is a large customer parking to the front of the premises for the whole neighbourhood parade.
|1,611 sq ft||150 sq m|
|Ancilliary||393 sq ft||37 sq m|
|Total NIA||2,004 sq ft||187 sq m|
|First Floor Hairdresser|
McColl’s trade from over 1,300 stores throughout the UK with approximately three quarters of those being convenience stores and the remainder trading as newsagents. Their brands include McColl’s, Martin’s and R. S. McColl. For the year ending 27th November 2016 reported a turnover of £518.736 million, a pre tax profit of £25.631 million and shareholder’s funds of £160.391 million.
The combined group has a turnover in excess of £1bn. It employs nearly 20,000 full and part-tine staff and is visited by over 4.5 million customers every week. The company floated on the London Stock Exchange in 2014. Further information can be found at http://www.mccolls.co.uk/investor.
We are instructed to seek offers in excess of £386,500 (Three Hundred Eighty Six Thousand and Five Hundred Pounds) subject to contract, for the freehold interest showing a net initial yield 7% assuming purchasers costs of 4.08% with a reversionary yield of 7.73% at the next review.
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