Retail premises for sale

High Street, Yarm TS15

Investment summary

• Located in the centre of Yarm, an affluent market town on the banks of the River Tees and close to the North Yorkshire Moors
• The subject property is situated in a prime position in the heart of Yarm on High Street
• Pay and display parking available immediately outside the building
• Total floor area of 5,519 sq ft, with 941 sq ft vacant and suitable for redevelopment, subject to planning
• Total passing rent of £67,757 per annum from 7 tenants
• Opportunities to add value from re-letting or redevelopment of vacant space
• Strong diversification of income with 53% of the income from commercial occupiers and 47% from residential tenants
• Strong anchor tenant; 27% of income from Co-op Group Limited with £11.3bn turnover & £161m profits
• Over the last 7 years the apartments have been 94% fully occupied demonstrating excellent tenant demand and stability
We are instructed to seek offers in excess of £740,000 (Seven Hundred and Forty Thousand Pounds) exclusive of VAT. A sale at this level reflects a net initial yield of 8.69% assuming standard purchasers’ costs of 5.38%.
Location

Yarm is an affluent and sought after market town on the banks of the River Tees situated approximately 8 miles east of Darlington, 10 miles west of Stokesley and 16 miles north of Northallerton.
The town has a population of over 9,600 residents with a wider population exceeding 1,000,000 across the Tees Valley and North Yorkshire area.
The towns historical charm with its riverside location and Georgian architecture attracts many tourists and visitors alike. Yarm also boasts several well-regarded schools and is also considered an attractive location for families.
The renowned High Street incorporates several independent shops, cafes and restaurants creating a vibrant town centre.
Situation

The subject property is situated in a prime position in the heart of Yarm’s main shopping street, to the north of High Street, with pay and display parking immediately outside the building.
Description

This Grade II Listed property comprises a three-storey brick built building with pitched slate roof fronting High Street with two ground floor retail units and five apartments to the upper floors.
Accessed from High Street is a vacant former veterinary practice over ground and first floors. Additional storage and yard space is accessed to the rear of the building.
Planning permission

On 21st September 2023, planning was approved for the development of 143C from a former veterinary practice to residential flat with ground floor storage:
“Change of use to residential flat (C3) at first floor with ancillary storage at ground floor, replacement of existing external windows and doors and application of render finish to front”
For more information, please visit Stockton on Tees Borough Council Website, application number: 23/1416/cou Store
Proposal

We are instructed to seek offers in excess of £740,000 (Seven Hundred and Forty Thousand Pounds) exclusive of VAT. A
sale at this level reflects a net initial yield of 8.69% assuming standard purchasers’ costs of 5.38%.
Contact

For further information or to arrange a viewing please contact:
Daniel Capobasso
Tel. Email.