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81 York Road, Hartlepool, Cleveland, TS26 8AH
Guide Price* : £160,000
- Mixed Use Investment Opportunity
- Let to Coral Racing Limited expiring 27/02/27
- Producing £23,506 per annum (Tenant is currently not in occupation)
- An attractive Net Initial Yield of 14.69%
- Multiple Asset Management Opportunities
- Potential for Conversion (Subject to Planning)
Description
The property comprises a mixed use opportunity consisting of three ground floor retail units and two residential units to the upper parts. Set within an end of terrace building that benefits from a frontage onto York Road and a return frontage facing onto Elliott Street. The property is also accessed by a small yard to the rear.
The property is let in it's entirety to Coral Racing Limited, who are not in occupation. The ground floor comprises three retail units one of which fronts York Road and was formerly occupied by Coral with a further two retail units fronting Elliot Street, these units are also leased to Coral and are also not occupied.
The first floor comprises two residential units arranged over first and second floors that are accessed from the rear of the property at Dent Street. These units have not been occupied for the duration of the lease to Coral.
We consider that the property provides multiple asset management opportunities including development/conversion potential, subject to planning.
Location
The property is located in Hartlepool, a seaside and port town in the County of Durham.
The property is situated just outside of the centre of Hartlepool and near to the end of the High Street. Therefore, the property is surrounded by local amenities and attractions such as Middleton Grange Shopping Centre and Suits Direct Stadium, home to the local football team, Hartlepool United.
The property has good transport links with Hartlepool Railway Station within ten minute walking distance and A Bus Station directly outside that provides connections to the rest of Hartlepool. In addition, the A689, is only a few minutes drive which leads onto the A1 that connects you across England.
Tenure
Freehold
Tenancy
The property is currently let to Coral Racing Limited on a lease expiring 27/02/27 and paying a rent of £23,506 per annum. The tenant is not currently in occupation.
VAT
The property is not elected for VAT
Note
Please note, the current photographs are historic and will be updated in due course.
Contact
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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Subject to Contract and Exclusive of VAT © Lambert Smith Hampton April 2025
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