NOT ONE BUT TWO - COMMERCIAL UNITS ON LOFTUS HIGH STREET

With few commercial properties now available in Loftus, these two retail units are now waiting for their next owner. On the main High Street, both offering excellent display windows to passing trade, an excellent investment to the right investor, that also benefits from parking to the rear! In need of thorough refurbishment throughout these properties could offer the right investor an excellent opportunity in the rising town of Loftus which has been recently granted over £9m to revitalise the High street. Located on the main High Street benefiting from off street parking to the rear, these retail premises have excellent display windows with approximately 66 years remaining on the commercial lease. Both benefiting from shop front, rear shop area as well downstairs storage/preparation rooms which lead to the parking at the rear. GROUND FLOOR AND BASEMENT UNITS ONLY. The properties had previously had planning permission accepted to be converted into 2 x two bedroom town houses, but this has since expired. We ask all parties to complete full due-diligence on any auction property by reading a full pack prior to bidding. Come auction day (11th July), you must be in a position to legally exchange contracts at the fall of the gavel, a 10% deposit (£5,000 min) is required and completion is set for 28 days later. You must be registered to bid, Please note that previous purchases, interest or registration through the Auction House Brand are not valid for a forthcoming auction and therefore you MUST register your interest with the office on 01642 931060. Please also note that holding an EIgroup account will not give you bidding authorisation, this authorisation can only be granted via the Tees Valley branch once all forms and documentation has been received at teesvalley@auctiohouse.co.uk. for any further assistance, please do not hesitate to contact us in the office.

Tenure

Leasehold.

No.18 Zetland Road

Shop Front - 4.4m x 4.4m (14'5" x 14'5") - Large display window with door to the front pavement, currently opened up to number 19 shop front! Shop Rear - 4.4 x 3.5 (14'5" x 11'5") - Preparation/Storage area with washing facilities and small toilet area. Doorway providing access to the downstairs rooms. Basement Rooms - Room One - 4.5m x 3.60m approx. measurements are approximate - Window to the rear with doorway to the rear yard/parking. Room Two - 4.4m x 4.2m measurements are approximate Room Three - 2.90m x 1.80m (9'6" x 5'10") -

No. 19, Zetland Road

Shop Front - 4.4m x 6.2m (14'5" x 20'4") - A double fronted shop with central doorway to the front pavement, access to the rear of the shop. Shop Rear - 3.55m x 2.60m (11'7" x 8'6") - Window to the rear with preparation area and toilet, staircase providing access to the basement area. Basement Rooms - Room One - 5.5m x 3.6m (18'0" x 11'9") - Large storage/preparation area with window to the rear and doorway providing access to the rear yard and parking area. Room Two - 5.4m x 4.2m (17'8" x 13'9") - Another sizeable room to the front of the shop. Room Three - 3.1m x 1.80m -

Outside Rear

Currently the rear of the property is fenced off as it is currently unused, but this could be opened up to at least accommodate upto four cars.

Viewings

Please contact Auction House North East on 01642 931060 for the viewing schedule

Energy Efficiency Rating (EPC)

Current Rating F

Services

Interested parties are invited to make their own enquiries to the relevant authorities as to the availability of the services.

Local Authority

Redcar and Cleveland Borough Council

Solicitors

Martin L Grove Solicitors, 81 High Street, Ref: Martin L Grove Solicitors, Tel: 01287 650675

Additional Fees

Buyer's Premium - £2400 inc VAT payable on exchange of contracts.

Administration Charge - £1200 inc VAT payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.