Summary - Linthorpe Road, Middlesbrough, North Yorkshire, TS1 TS1 1RD
1 bed 1 bath Retail Property (high street)
### Standout Features:
- Fully let to Skipton Building Society, established in 1853
- Current lease with annual rent of £11,000 until March 2025
- Popular pedestrianized location on Linthorpe Road
- Large space of 1,147 sq ft with Edwardian commercial design
- Strong potential yield of 8.3% at the asking price of £132,500
- Excellent mobile signal and average broadband speeds
### Potential Downsides:
- Lease expiry in 2025 may complicate mortgage lending (only 6 years left)
- High crime rates in the local area
- Property is classified in a very deprived area
Discover an excellent investment opportunity in this prime high street retail property located at 24 Linthorpe Road, Middlesbrough. Currently occupied by the reputable Skipton Building Society with an established presence dating back over 150 years, this property boasts a solid annual income of £11,000, ensuring an attractive yield of 8.3%. The spacious 1,147 sq ft commercial space features a distinct Edwardian style and is situated in a bustling pedestrian area, providing ample foot traffic and visibility for a future tenant.
While the current lease runs until March 2025 with potential for a break clause in 2028, it’s worth noting that the mortgage lenders may have concerns due to the limited lease duration remaining. The property's location, while vibrant and convenient with a plethora of local amenities, does fall within an area characterized by high crime rates and significant deprivation. Nonetheless, this property represents a unique part of Middlesbrough’s retail scene and offers substantial renewal and growth potential in the years to come. Don’t miss out—properties like this do not stay on the market long.
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