£250,000
(£500.00/sq. ft)
Office for saleLinthorpe Road, Middlesbrough TS1
500 sq. ft
About this property
Asset management opportunity
Prime location
Parking to be reinstated
Air conditioning
Fully tenanted
Generating £20,516
For Sale - 146 Linthorpe Rd, Middlesbrough TS1 3RA
An asset management opportunity on one of Middlesbrough's most popular roads. Linthorpe Road is the main thoroughfare in Middlesbrough Town Centre and is currently undergoing large works to remove a Cycle Lane which will reinstate parking along the street and benefit all traders.
The ground floor is a commercial office unit. Although it would be suitable for a variety of uses. The ground floor will be vacant in April 2026. It is expected that upon finding a new tenant the property can be let at £12,000 Per Annum. The current incoming rent is £10,000 Per Annum
The upper floors being a 4 bedroom, 3 bathroom apartment currently occupied and managed by Mears, the housings solutions provider, at a current rent of £10,516. The rent is reviewed and increased yearly and the Mears agreement expires in 2029 - There is scope here to potentially change this flat into a 4 bedroom student home which would see the rent increase. Mears are on a fully repairing and insuring agreement (Fri)
146 Linthorpe Road is primely located, just opposite the Gresham Regeneration Scheme. A £200 Million scheme to fully uplift and redesign that section of the town. The scheme includes 504 new homes and a new 210 bedroom hotel. Similarly 146 is located within just a few minutes walk from Teessides University, further showing the scope for the student accommodation scheme in the future.
Total current income - £20,516
For Sale - £250,000
Currently returning 8.2% on the asking price.
An asset management opportunity on one of Middlesbrough's most popular roads. Linthorpe Road is the main thoroughfare in Middlesbrough Town Centre and is currently undergoing large works to remove a Cycle Lane which will reinstate parking along the street and benefit all traders.
The ground floor is a commercial office unit. Although it would be suitable for a variety of uses. The ground floor will be vacant in April 2026. It is expected that upon finding a new tenant the property can be let at £12,000 Per Annum. The current incoming rent is £10,000 Per Annum
The upper floors being a 4 bedroom, 3 bathroom apartment currently occupied and managed by Mears, the housings solutions provider, at a current rent of £10,516. The rent is reviewed and increased yearly and the Mears agreement expires in 2029 - There is scope here to potentially change this flat into a 4 bedroom student home which would see the rent increase. Mears are on a fully repairing and insuring agreement (Fri)
146 Linthorpe Road is primely located, just opposite the Gresham Regeneration Scheme. A £200 Million scheme to fully uplift and redesign that section of the town. The scheme includes 504 new homes and a new 210 bedroom hotel. Similarly 146 is located within just a few minutes walk from Teessides University, further showing the scope for the student accommodation scheme in the future.
Total current income - £20,516
For Sale - £250,000
Currently returning 8.2% on the asking price.
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