Commercial property comprising a retail unit arranged over ground and first floors, with a gross yield of 20.83% per annum.

The property is situated in the heart of Middleton Grange Shopping Centre, the dominant retail scheme in Hartlepool. Hartlepool lies approximately 17 miles south-east of Durham and 20 miles north-east of Darlington, serving as a key commercial hub for County Durham. The unit occupies a prominent internal position within the centre, with additional access from Victory Square, benefiting from strong footfall and proximity to major national retailers.

Hartlepool Borough Council has secured £13.8 million under the Town Deal initiative to fund the redevelopment of Middleton Grange Shopping Centre, with completion targeted for 2028.

This provides potential for long-term capital growth and an enhanced retail environment.

The accommodation is arranged as follows:

Ground Floor (Retail): 481.09 sq m (5,178 sq ft)

First Floor (Ancillary): 156.96 sq m (1,689 sq ft)

Total: 638.05 sq m (6,867 sq ft)

(Floor areas sourced from VOA.)

Tenancy (Refer to Legal Pack)

The property is let to MDSHARTLE LTD on a 10-year lease from 16 April 2026 at a rent of £25,000 per annum exclusive.

The lease provides for:

Year 1: Rent free

Year 2: £21,000 per annum

Year 3 onwards: £25,000 per annum

A rent deposit of £5,250 is held by the seller for the duration of the tenancy.

Tenure

Long under-leasehold interest held until 25 February 2069 at a peppercorn ground rent.

VAT is applicable to this lot.

It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC), subject to the relevant conditions being satisfied.