23-25 Kings Road, North Ormesby, Middlesbrough, North Yorkshire, TS3 6NG
The property is located in an established retail position fronting on to Kings Road in North Ormesby town centre. Middlesbrough city centre is approximately 1 mile to the west.
Two storey mid terrace property which comprises a ground floor convenience store occupied by way of a long term business tenancy and three flats to the upper floors.
We detail below the following accommodation and net internal floor area that have been provided to us by the vendor and taken from the VOA website: 23-25 Kings Road (Retail Unit): Sales, Office, Staff Areas and Storage 164 sq m (1,765 sq ft) 23A King Road: One Bedroom Flat 23B Kings Road: One Bedroom Flat 23C Kings Road: One Bedroom Flat
Access to 23B & 23C Kings Road from Kings Mews East at the rear of the property.
The ground floor retail unit is let to an individual by way of a 20 year FRI lease from November 8th 2013 at a rent of ú12,000 per annum. The lease allows for 3 year rent review patterns. Flat 23A is let by way of AST agreement at a rent of ú110 per week (ú5,720 per annum) Flat 23B is let by way of AST agreement at a rent of ú100 per week (ú5,200 per annum) Flat 23C is let by way of AST agreement at a rent of ú110 per week (ú5,720 per annum)
The ground floor retail unit current rent is ú12,000 per annum subject to a 3 yearly rent review pattern. The total rental income is ú28,640.
TS3 6NG Open in Google Maps
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