RESIDENTIAL INVESTMENT OPPORTUNITY

THE TOWN HOUSE SKINNER STREET, STOCKTON, TS18 1DY

THE TOWN HOUSE

INVESTMENT SUMMARY

SKINNER STREET, STOCKTON, TS18 1DY

• Excellent residential investment opportunity with additional commercial income

• Passing rent £223,360 per annum (including guaranteed rent of £16,000 per annum)

• Close proximity to town centre amenities and transport links

• Fully furnished and well-appointed throughout

• Onsite secure car parking

• Offers IRO £1.7 million

THE TOWN HOUSE SKINNER STREET, STOCKTON, TS18 1DY

65

63

62

61

60

59

58

57

56

A1027

A684

LOCATION

A1027

THE TOWN HOUSE

A1027

A1046

A178

HEXHAM

A696

Newcastle Airport

NEWCASTLE UPON TYNE

TYNEMOUTH Port of Tyne SOUTH

SHIELDS

Scotland A19

North Middlesbrough GATESHEAD A19 SUNDERLAND

A1305

A139

A1305

A1046

A1032

B6541

B6541

MIDDLESBROUGH

Teesside University

CHESTER-LE-STREET

DURHAM

A690

SEAHAM

HARTLEPOOL

GLASGOW

EDINBURGH

CARLISLE

NEWCASTLE SUNDERLAND

MIDDLESBROUGH

LEEDS

MANCHESTER

B1032 Albert Park A689 Teesport LIVERPOOL NOTTINGHAM

Queen’s Campus

B6541

A19

South

West Lane Hospital

A172 STOCKTON MIDDLESBROUGH

DARLINGTON

Wales

BIRMINGHAM

England

STOCKTON A135

A1130

Thornaby

A1130

Teesside

Shopping Park

B1032

SCOTCH CORNER

A66

Durham Tees Valley Airport

CARDIFF BRISTOL

LONDON

The property occupies a prominent position between Skinner Street and Dovecot Street within the town of Stockton on Tees. It is conveniently located being within close proximity to the town centre.

Stockton is located 4 miles west of Middlesbrough, 12 miles east of Darlington and 27 miles south of Durham. The town is highly accessible benefi from excellent road and rail links via the A19 and A66; the latter of which links to the A1(M) to the west. Stockton and Thornaby rail stations are located 0.6 miles to the north and south east of the property and link the town with a wide range of local and major city destinations.

Stockton is a popular town benefi from excellent transport facilities, along with a wide leisure, retail and nightlife offer. The property is on the edge of the recently formed Stockton BID District.

A66

A66 A66

A68 A19

A69

A19

A66 A68

A1(M)

A167 A181 A689

A690

A66

A688

A68

A688

A171

A19

A1(M)

A19

THE TOWN HOUSE SKINNER STREET, STOCKTON, TS18 1DY

SITUATION

Castlegate Shopping Centre

THE TOWN HOUSE

Wellington Square Shopping Centre

Castlegate Shopping Centre

The Tees Barrage

Stockton Business Centre

ARC Theatre

Mill Lane Primary School

A1305

Wellington Square Shopping Centre

STO

CK

TO

N H

IGH

ST

REET

THE TOWN HOUSE SKINNER STREET, STOCKTON, TS18 1DY

DESCRIPTION

The property comprises a prominent, high quality, four storey block currently providing 18 two, three and fi e bed apartments with private parking. With minor alterations the building can be converted to provide 24 two and three bed apartments. Newly refurbished commercial/retail space producing additional income is located at ground fl level. Access to the building is gained via Skinner Street to the east.

The property occupies an enviable position being close to a diverse mix of uses including a broad retail and leisure offer along High Street to the east, along with The Teesside Retail Park which accommodates a range of national retailers located approximately 2.5 miles to the east. The Tees Barrage and canoe course is also located around 2 miles to the east along the Tees riverside.

INTERNET Each apartment is now cabled for Virgin Superfast Broadband and other Virgin media services. Each apartment has this high speed facility including wireless access. These services can be set up independently by the tenants themselves or, if preferred, the Property Operator may buy the Virgin services and resell to tenants at a higher rate. This is particularly attractive where apartments are shared.

NEW PASSENGER LIFT A brand new state of the art Orona MRL traction passenger lift has recently been installed. Servicing all four fl this eco friendly lift guides passengers and their luggage with clear voice annunciation to each fl where automatic landing lighting greets the passenger on leaving the car.

THE TOWN HOUSE SKINNER STREET, STOCKTON, TS18 1DY

TENANCIES

The apartments are let on Assured Shorthold Tenancy agreements, copies of which are available on request.

The total rent passing is £207,360 per annum including the ground fl commercial rent. Part of the commercial space is let on a 3 year Full Repairing and Insuring lease.

The vendor is prepared to offer a 3 year, £16,000 per annum rental guarantee in respect of the vacant commercial parts of the property.

TENURE The property is to be sold freehold, subject to the occupational leases and AST agreements.

VAT All offers received will be deemed to be exclusive of VAT.

THE TOWN HOUSE SKINNER STREET, STOCKTON, TS18 1DY

INFORMATION PACK

An information pack is available on request which includes the following:

• Title information;

• Floor Plans;

• Internal photographs; and

• Tenancy information.

ENERGY PERFORMANCE CERTIFICATES EPC’s are available on request.

LEGAL AND AGENTS COSTS Each party is to be responsible for their legal and agents costs incurred.

gva.co.uk/9545

GVA Grimley Limited Conditions under which Particulars are issued GVA Grimley Limited for themselves, for any joint agents and for the vendors or lessors of this property whose agents they are, give notice that: 1.) The particulars are set out as a general outline only for the guidance of intending purchases or lessors and do not constitute, nor constitute part of, an offer or contract. 2.) All descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details, are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact but satisfy themselves by inspection or otherwise as to the correctness of each of them. 3.) No person in the employment of GVA Grimley Limited or any joint agents has any authority to make or give any representation or warranty whatever in relation to this property. 4.) All rentals and prices are quoted exclusive of VAT. Reproduced by courtesy of the Controller of HMSO. Crown Copyright reserved. Licence No 774359. If applicable, with consent of Chas E Goad, Cartographers, Old Hatfield, Geographers A-Z Map Co Ltd and/or The Automobile Association. For identification purposes only.

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METHOD OF DISPOSAL We are instructed to invite offers in the region of £1.7 million refl an initial yield of 12.37% (allowing for purchasers costs) on the total rent including the guarantee.

Offers can be submitted direct via email to David Craig or Glenn Laws, or posted to the following address: David Craig / Glenn Laws Bilfi GVA Central Square Forth Street Newcastle upon Tyne NE1 3PJ

Please note that our client is not obliged to accept the highest or any offer.

VIEWINGS Viewings are strictly by appointment with Sole Selling agents GVA.

gva.co.uk/9964

GVA is the trading name of GVA Grimley limited, conditions under which particulars are issued by GVA Grimley Limited for themselves, for any joint agents and for the vendors or lessors of this property whose agents they are, give notice that: (i) the particulars are set out as a general outline only for the guidance of intending purchases or lessors and do not constitute, nor constitute part of, an offer or contract. (ii) all descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details, are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact but satisfy themselves by inspection or otherwise as to the correctness of each of them. (iii) no person in the employment of GVA Grimley Limited or any joint agents has any authority to make or give any representation or warranty whatever in relation to this property. (iv) all rentals and prices are quoted exclusive of VAT

Reproduced by courtesy of the Controller of HMSO Crown Copyright reserved. Licence No 774359. If applicable, with consent of Chas E Goad, Cartographers, Old Hatfi Geographers A-Z Map Co Ltd and/or The Automobile Association. For identifi purposes only.

For further information or an appointment to view please contact:

David Craig Direct Dial: 0191 269 0510 Email: david.craig@gva.co.uk

Glenn Laws Direct Dial: 0191 269 0064 Email: glenn.laws@gva.co.uk

Designed & produced by www.creativestreakdesign.co.uk Ref-968