Lot 70A
    Commercial Property
    94A Middleton Grange Shopping Centre
    Hartlepool, Cleveland, TS24 7RW
    £95,000+
    Guide Price (plus fees)
    Number 1
    A Commercial Unit Let Subject to an FRI Lease for £21,000 Per Annum (Rising to £25,000 Per Annum in 2028).

    Description

    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.

    Financial Tools

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    Annual income

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    Purchase Price£95,000
    Monthly Rent£0
    Annual Costs£0

    For illustration only. Seek independent financial advice before making decisions.

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    Additional Fees and Disclaimer

    Administration charge: £1,800 including VAT unless otherwise stated in the addendum.

    Buyers Premium and Disbursements: Please see the legal pack and the addendum for any disbursements and buyers premium that may be payable by the purchaser on completion.

    Guide Prices are provided as an indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve ( a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

    Particulars including images and video tours on the website and within the catalogue are believed to be correct but their accuracy is not guaranteed. The auctioneers will always endeavour to inform prospective purchasers of variations to the catalogue, when such changes are brought to their attention. The auctioneers nor their clients can be held responsible for any losses, damages, or abortive costs incurred in respect of lots that are withdrawn or sold prior to auction. Viewings are carried out by third party agents and we will endeavour to give appropriate notice should the published viewing time change. Auction House London will not be liable for any costs or losses incurred due to viewing cancellations or no shows. Information relating to Rating matters has been obtained by verbal enquiry only. Prospective purchasers are advised to make their own enquiries of the appropriate authorities. Prospective purchasers are deemed to verify for themselves whether tenanted properties are occupied and rents are being paid. All measurements, areas and distances are approximate only. Potential buyers are advised to check them. No representation or warranty is made in respect to the structure of any properties nor in relation to their state of repair. Prospective buyers should arrange for a survey of the particular lot by a professionally qualified person.

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