Location
Let to Iceland Foods Limited on a Five Year Lease Expiring 23/06/2025 and Paying £32,500 per annum. Situated at the Heart of Redcar High Street
The property comprises a high yielding investment opportunity let to the undoubted covenant of Iceland Foods Limited. Arranged across ground and first floors, the property is fully let to Iceland Foods Limited on a five year lease expiring 23/06/2025 and paying £32,500 per annum. The tenant elected not to exercise break options in both 2022 and 2024, displaying commitment to the location. The property has evident asset management potential in renewal of the existing lease. The current passing rent reflects a low £3.03 per sq ft whilst the rateable value of the property is £39,750. The property is situated at the epicentre of the pedestrianised High Street, enjoying a high footfall pitch opposite the junction with Dundas Street, the main pedestrian route to the seafront esplanade.