Leasehold Retail and Office Investment Gross Rent £21,000 Plus Vacant Offices 15,968 sq.ft
Substantial three storey block, briefly comprising three ground floor retail units together with first and second floor vacant offices, prominently situated fronting Victoria Road, close to Hartlepool town centre. The premises are currently tenanted as follows: Unit 5 - 6 Bovis House (1 - 3 Victoria Road) Let to private individuals - 179.76 sq m (1,935 sq ft) - 5 years from 18 April 2018 with a tenant break clause 18 April 2020 - current rental £15,000 pa Unit 7 Bovis House - Let to a private individual - 67.62 sq m (724 sq ft) - 4 year lease from 15 May 2017 with a break option on second anniversary - rental £6,000 pa Unit 9 - 13 Bovis House (7 - 11 Victoria Road) - Ground, first and second floor offices - 1,483.5 sq m (15,968 sq ft) – Vacant Total size is 1,730.52 sq m (18,627 sq ft) Total rent income - £21,000 pa NOTE: Not inspected by Auction House North West - floor areas provided by vendor The property is held long leasehold by way of a 99 year lease from December 2007 (approximately 87 years unexpired) with a current ground rent of £38,250 pa. Note: The sellers currently have a dilapidation claim outstanding from the Secretary of State for the Environment Transport and Regions, who previously occupied the offices for 20 years from 12 April 1999. A copy of the Terminal Schedule of Dilapidations is available within the legal pack. VAT is not applicable.
See Legal Pack
Energy Efficiency Rating (EPC)
Current Rating D
Hartlepool Borough Council
Buyer's Premium - £900 inc VAT payable on exchange of contracts.
Administration Charge - 0.9% inc VAT of the purchase price, subject to a minimum of £1080 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.