Available
Redcar – Large Retail Premises
102-104 High Street, Redcar, North Yorkshire TS10 3DLVirtual Freehold Retail Investment
Price
£160,000
Rent P.A.
£20,000
Yield
12,50%
Tenure
Leasehold
Lease Term
12 Years
Years Left on Lease
10y 11m
Area
4,305 SQ FT
VAT Applicable
Yes
Sector
Investment Consideration
- Comprises double fronted ground floor retail shop
- Let to a charity until July 2037. Rent reviews linked to RPI every 5 years.
- Situated in the heart of the town centre with nearby occupiers including Sports Direct, Iceland, Morrisons, B&M, The Works, Costa Coffee, Café and many more.
Key Features
Tenure
Leasehold
VAT
VAT is Applicable
Property Description
The property comprises double front retail shop t/a Charity The Imaginarium Creative Studios, providing the following accommodation and dimensions:
Ground Floor No.102-104: 400 sq m (4,305 sq ft)
Open plan retail, storage, office, kitchenette, wc
Total GIA: 400 sq m (4,305 sq ft)
Ground Floor No.102-104: 400 sq m (4,305 sq ft)
Open plan retail, storage, office, kitchenette, wc
Total GIA: 400 sq m (4,305 sq ft)
Tenancy Description
No. 102-104 is at present let to The Imaginarium Creative Studios Ltd for a term of 12 Years from 1st August 2025 at a current rent of £20,000 p.a. and the lease contains full repairing and insuring covenants. Rent review every 5 years linked to RPI. Tenant option to determine on 01.08.31 with min 6 months notice. Deposit held of £5,000. Lease within Landlord & Tenant Act 1954.
Tenure:
Long leasehold. To be held on a 999 Year lease from completion at a ground rent of peppercorn.
Tenure:
Long leasehold. To be held on a 999 Year lease from completion at a ground rent of peppercorn.
Tenancies & Accommodation
Location Description
The property is situated in the heart of the town centre on the south side of High Street, close to Regent Walk Shopping Centre where retailers include Home Bargains and JD Sports. Other nearby occupiers of the High Street include Iceland, Morrisons, B&M, The Works, Wilko, Costa Coffee, Greggs, Sports Direct and WHSmith, amongst others.









