Bishopton House

Income producing retail investment for sale

Description

A substantial three storey building of traditional construction, arranged with two ground floor retail units, each with ancillary accommodation at the first level. The remainder of the first and second floors are offices.Externally there is a loading bay at the rear along with some car parking accessed from Laing Street.

Tenancy
Tenant 1
6-16 Bishopton Lane, Stockton-on-Tees TS18 2AA
Ground floor shop with first floor ancillary
Tenant Name - Argos Limited
Lease Start Date - 23/09/1963
Lease Length is 63 years
Rent- £41,000.00 per annum
Lease Repair/ Service Charge - Tenant maintains internals.
Insurance - Landlord insures and recharges to tenant

Tenant 2
Ground floor shop with first floor ancillary
Tenant Name - Cotton Cloth (Teesside) Limited
Lease Guaranteed
Lease Start Date - 26/07/2018
Lease Length - 10 years
Passing Rent - £25,000.00
Passing Rent WEF - 26/07/2020
Break  Clause - 5th anniversary
Break Notice - At least 6 months
Rent Review - 26/07/2023
Fixed Rent Increases
Stepped rent historic/prior to ownership
Repair/Service Charge - Tenant maintains internals
Insurance - Landlord insures and recharges to

Covenant
Argos trades from over 883 retail stores across the UK and for the year ending09/03/2019 Argos Ltd reported a turnover of £4,240,797,000, a pre-tax loss of £57,868,000 & net assets of £527,300,000. 29 million yearly shop customers, and nearly a billion online visitors per annum, making it one of the largest high street retailers in the United Kingdom. It has also franchised overseas to countries such as China.‍

Tenure
Leasehold999 Year Leasehold Peppercorn Rent

VAT
Prices and rental are exclusive of VAT if chargeable.

Features

  • Income producing retail investment for sale
  • Anchored by Argos (expiring 2026, no breaks)
  • Prominently situated on Bishopton Lane
  • Price: £440,000
  • Producing £66,000 pa
  • A purchase at this level would reflect a Gross Initial Yield of 15%
  • 999 Year Leasehold Peppercorn Rent

Price
£440,000
Location
Stockton on Tees
Status
Available

Privacy & Permissions

Terms

Please read our terms and conditions to understand how our website is intended to be used.  Read full details.

Privacy

Our privacy policy outlines how we store and/or use data collected on our website.  Read full details.

Cookies

We use cookies to improve your experience and for marketing. You can accept all cookies or decline non-essential cookies.  Read full details.