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Lot 16

Freehold Commercial Investment let to The PDSA – Gross Yield 13.8%
6 Week Completion

Situation

Occupying a prominent trading position on this pedestrianised street, in the heart of this popular seaside town, adjacent to Santander and amongst such multiples as Boots, Savers, Admiral, Sports Direct, CeX, Costa Coffee, Greggs, Post Office, Iceland, Subway and many more.
Redcar lies on the A1085 enjoying fast links with the A66 and A19, some 6 miles east of Middlesborough and 21 miles east of the A1(M).

Property

A mid terrace building comprising a Deep Ground Floor Shop with internal access to Ancillary Accommodation on the first floor. In addition, the property includes a rear loading/parking area accessed from a service road.

Accommodation¹

Ground Floor Shop
Gross Frontage	20'0''
Built Depth	118'0''
Area	Approx. 2,395 sq ft
First Floor Ancillary
Area	Approx. 459 sq ft
WC
	_______________
Total Area	Approx. 2,854 sq ft

¹Not inspected by Barnett Ross. Areas taken from VOA.

VAT is applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease (subject to a schedule of condition) to The People's Dispensary For Sick Animals as a Charity Shop (having over 100 branches) for a term of 5 years from 6th October 2022 at a current rent of £18,000 per annum exclusive.

Note: The Tenant did not operate their October 2025 Break Clause.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

62 High Street, Redcar, Cleveland TS10 3DR