329 Linthorpe Road
Middlesbrough
TS5 6AA
Station Road, Redcar
£230,000
6 Bedroom House - Mid Terrace
- ARE YOU LOOKING FOR A DEVELOPMENT PROJECT? Planning Passed for 2 Retail Units and 6 Flats R/2024/0762/ff
- ARE YOU LOOKING FOR A LARGE MULTI-ROOM AND MULTI-LEVEL COMMERCIAL UNIT SET WITHIN AN UP AND COMING PRIME LOCATION? This property offers a large amount of space across all floors and would sevre multip
- Redcar in general is currently the focus for large scale investment from private investors and the govenrment which is transforming the town
- There is a large contractor accommodation demand due to various local industrial sites
- Due to the general redevelopment of the local area as a whole there, and the Seaside location there is further demand for tourist accommodation
- EPC RATING - C
A PRIME LOCATION ON THE BUSTLING STATION ROAD, CLOSE TO REDCARS SEA FRONT, AWASH WITH OPPORTUNITY AND POTENTIAL DEPENDING ON THE NEEDS OR FOCUS OF THE INCOMING PURCHASER. THE PROPERTY, CURRENTLY VACANT AFTER PREVIOUSLY BEING USED AS OFFICES ACROSS ALL FLOORS, IS SPREAD OVER THREE STOREYS AND CAN BE UTILISED FOR A NUMBER OF PURPOSES OR DUE TO IT HAVING FULL PLANNING IN PLACE THE SITE CAN BE REDEVLOPED TO CREATE A MIX OF COMMERCIAL UNITS (A RETAIL UNIT AND ADDITIONAL RESTAURANT) TO THE GROUNDFLOOR AND 6 RESIDENTIAL FLATS TO THE UPPER FLOORS. STATION ROAD AND THE TOWN IN GENERAL HAVE WITNESSED AN UPLIFT IN FOOTFALL AND HAS SEEN VARIOUS INCOMING BUSIENSSES, RESTAURANTS, SALONS, GENERAL RETAIL AS WELL AS WORKS AND INVESTMENT CARRIED OUT BY THE LOCAL GOVERNMENT. THIS SITE IS WITHIN MINUTES OF THE TRAIN-STATION, SEA FRONT, REGENCY CINEMA, VARIOUS WELL KNOWN EATERIES,
INFORMATION
FLOOR AREAS;
TOTAL EXISTING FLOOR AREAS = 280.0M2 = 3014.0 SQ FT
TOTAL PROPOSED INTERNAL FLOOR AREAS = 440.5M2 = 4741.5 SQ FT
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INVESTMENT INFORMATION;
FOR A DEVELOPER WHO WISHES TO FOLLOW THE PASSED PLANNING AND CREATE A COMMERCIAL AND RESIDENTIAL MIXED INVESTMENT, THE RETURNS COURTESY OF THE COMPLETED ARTICLES OFFER A GENEROUS RETURN;
6 X APARTMENTS; PREDICTED MONTHLY RENTAL INCOME OF £575 - £600PCM AS A STANDARD RESIDENTIAL (OR MORE IF LET ON A SHORT TERM STAY OR CONTRACTOR ACCOMMODATION BASIS) = £3450 - 3600 PCM +
RESTARAUNT; AN EXPECTED £2,000 PCM. ** PLEASE NOTE THAT THE CURRENT OWNER HAS HAD INTEREST DIRECT FROM WELL KNOWN RESTARUANT CHAINS WHO HAVE PROPOSED A 15 YEAR LEASE.
HAIR AND BEAUTY SALON etc; £600-700 PCM
TOTAL ANNUAL INCOME CIRCA £75,000 - 80,000 PER ANNUM
EXPECTED GDV ; IN THE REGION OF £650,000 - 700,000
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QUOTES AND PLANS;
THERE IS A SUITE OF QUOTES, PLANS AND MORE RELAVANT INFORMATION AVAILABLE ON REQUEST. THE ABILITY TO PROVE FINANCIAL ABILITY TO PROCEED WILL BE REQUIRED BEFORE THESE ARE SHARED.
Although these particulars are thought to be materially correct their accuracy cannot be guaranteed and they do not form part of any contract.
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