*Guide | £95,000+ (plus fees)
- Commercial Property
- Tenure: Leasehold. The property is held on a 99 year lease from 26th February 1970 (thus approximately 42 years unexpired).
Call the team on 020 7625 9007 for more information
A Commercial Unit Let Subject to an FRI Lease for £21,000 Per Annum (Rising to £25,000 Per Annum in 2028).
The property comprises a mid terrace commercial unit situated within the Middleton Grange Shopping Centre arranged over the ground and first floors.
Tenure
Leasehold. The property is held on a 99 year lease from 26th February 1970 (thus approximately 42 years unexpired).
Location
The property is situated within Middleton Grange Shopping Centre close to local shops and amenities. The open spaces of Middleton Pier and Summerhill Country Park are within easy reach. Transport links are provided by Hartlepool rail station.
Accommodation
Ground Floor Commercial Unit 481 sq m (5,178 sq ft) First Floor Ancillary Space 157 sq m (1,689 sq ft) GIA Approx. 638 sq m (6,867 sq ft)
Tenancy
The property is let on a 10 year FRI lease to MDSHARTLE LTD from 11 April 2026. The lease benefits from a 12 month rent-free period, with income of £21,000 per annum from April 2027, rising to £25,000 per annum from April 2028, with upward-only rent reviews from Year 5. The tenant holds a break option in Year 7, subject to six months' prior written notice.
Further Information
When purchasing a flat that has a short lease, it is important to understand that in addition to the purchase price, if you wish to extend the lease to 90+ years, you will need to pay a premium to the freeholder. This is done by way of serving a Section 42 notice to the freeholder requesting a lease extension with a suggested price for the extension. The freeholder has the right to refuse the offer and submit a counter notice with their suggested price. If you do not fully understand this process, please ask the auctioneers or a solicitor.
Services
Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.
Important Notice to Prospective Buyers:
We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.
Additional Fees
Administration Charge - Purchasers will be required to pay an administration fee of £1,800 inc VAT
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Disclaimer: The map preview provided above is for general guidance only and may not accurately reflect the exact location or surrounding buildings. Prospective buyers and interested parties are strongly advised to independently verify the precise location and surroundings before bidding.
