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Lot 31 Click here for addendum

6 Week Completion

Situation

Occupying a prominent trading position adjoining Optical Express, being within close proximity to a number of multiple retailers including Barclays, Debenhams, Sports Direct and Tesco Express. In addition, the property lies a few hundred yards away from The Cleveland Centre (Middlesbrough's largest shopping centre) which also hosts multiples such as Poundland, Iceland, HMV, Foot Locker and many others.
Middlesbrough is the principal town of Teeside and is situated approximately 33 miles to the south-east of Newcastle-upon-Tyne and 45 miles to the north of York with easy access via the A1, A19 and A66.

Property

A mid-terrace building comprising a Ground Floor Bar with internal access to Ancillary Accommodation at first and second floor levels.

Accommodation

Ground Floor Bar
Internal Width 17'6"
Shop Depth 31'6"
Built Depth 36'10"
Sales Area Approx. 580 sq ft
First Floor Ancillary Area Approx. 260 sq ft plus WCs
Second Floor Ancillary Area Approx. 425 sq ft

VAT is applicable to this Lot

Freehold

Tenancy

The entire property is let on a full repairing and insuring lease to The Style Counsil Ltd as a Gin/ Cocktail Bar for a term of 10 years from 1st May 2018 at a current rent of £13,500 per annum exclusive.
Tenant's Break 2021

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

27 Corporation Road, Middlesbrough, Cleveland TS1 1LP