* 3 phase electric
* Roller Shutter security
* First floor office accommodation
* Established location
* Investment property
**Location
**
The property is situated on Riverside Park in Middlesbrough on Startforth Road
close to Riverside Park Road. Other occupiers in the immediate vicinity
include AV Dawson, Bulkhaul and Handelsbanken.
The road network is excellent giving quick access to the A66 & A19, sub - region
and beyond.
**Description
**
The buildings were built in 1990 for a bespoke owner occupier.
The accommodation available comprise warehouse and office accommodation across
ground and first floors.
The warehouse space benefits from roller shutter access and three - phase
electricity.
Externally the property benefits from parking across the front of the
building.
Accommodation
The property provides the following approximates areas:
Gross Internal Area
Unit 1 6, 032 sq ft 560. 40 sq m
Unit 2 6, 161 sq ft 572. 40 sq m
Unit 3 6, 000 sq ft 557. 40 sq m
Total 18, 193 sq ft 1, 690. 20 sq m
Tenure
The subject property is held long leasehold on a 125 year lease from 28th
March 1995 at a Peppercorn Rent.
Unit 1 & 2 is let to Kiowa Limited, for a term of 5 years from 29th November
2019, at a rent of £32, 000 per annum exclusive.
Unit 3 is owner occupied and available with vacant possession. The occupier is
open to starting a new lease at the date of sale.
**Price
**
The long leasehold interest of Unit 1 & 2 is available to purchase for
£400, 000.
The long leasehold interest is available to purchase, as a whole, for
£600, 000.
**Rating assessment
**
The property has the following Rating Assessments:
Unit 1 & 2: £35, 750
Unit 3: £39, 000
Tenant
Unit 1 & 2 is let to Kiowa Limited, for a term of 5 years from 29th November
2019, at a rent of £32, 000 per annum exclusive.
Company Number – 02667552
The tenants latest accounts reveal profits of:
Year ending January 2020
£346, 743 from a turnover of £12, 455, 540
Year ending January 2021
£303, 705 from a turnover of £10, 890, 450
Unit 3 is owner occupied.
**Energy performance certificates
**
The property has the following EPC banding:
Unit 1 – 2: Band C
Unit 3: Band B
**Legal costs
**
Each party is responsible for their own.
Viewing
Strictly by appointment through this office
Paul Stevenson / Jack Robinson
Tel: Subject to contract

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