Retail premises for sale in 2-3 Zetland Road, Loftus, Saltburn-By-The-Sea, Cleveland TS13

For sale by auction on Tuesday, 23 Jul 2024 at 12:00

Venue: Live Stream

own your own shopping arcade!

A fantastic business opportunity has arisen for someone to purchase the Loftus Shopping Centre at 2-3 Zetland Road in Loftus. Being a stalwart of the High Street this property is positioned in a busy location on the traffic lights, with previous businesses and holiday lets trading and paying rent this is an ideal opportunity for the right individual/business! Become part of the renovation of Loftus High Street and the unique opportunities that this venture would bring. This property is being sold by vacant possession. The ground floor currently has a barbers, laundrette, gaming arcade, vacant retail/cafe unit, as well as reception area, whilst also benefiting from parking to the rear as well as a large garage!

This property requires someone to release the full potential of the units which exist within it, there are four residential flats above the retail unit, three of which are currently holidays lets ran by the existing owners, and benefit from repeat customers year on year, with one vacant and requiring attention. There is the added income from the laundrette, a vacant retail unit with large display window, previously let out as a cafeteria, as well as further development to the amusement arcade area... Available as a freehold purchase, and currently being sold due to retirement. Stock and fixtures & fittings would be available by separate negotiation via the seller: (2 x sunbeds, 2 x industrial washing machines, 2 x industrial driers plus approx. 30 x arcade machines).

Ground floor
Entrance/Reception

Unit One - 3.9m x 5.4m

Unit 5 - 8.9m x 5.7m

Tanning Rooms

Office/Reception

Units 3 & 4 - 6.5m x 5.5m

Laundrette Area - 4.2m x 1.8m

first floor
Apartment One

Apartment Two

Apartment Three

Apartment Four

auctioneers notes
Property construction – Standard

Electricity supply - Mains

Water supply - Mains

Sewerage - Mains

Heating – Gas

Broadband - Standard Speed – 20 mbps

Mobile signal / coverage –Vodafone/ O2 /EE/three – Very Good

Parking – Off Street/Garage

Building Safety – See Legal Pack

Restrictions –Yes - See See Legal Pack

Rights and easements - See Legal Pack

Flood risk – Low

Coastal erosion –No Risk

Planning permission – See Legal Pack

Accessibility / adaptions - See Legal Pack

Coalfield or mining area - See Legal Pack

viewings
Please contact Auction House on for the viewing schedule

Additional Fees
Buyers Premium: 1% inc VAT of the purchase price, subject to a minimum of £1500 inc VAT, payable on exchange of contracts.

Administration Charge - £1200 inc VAT payable on exchange of contracts.

Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.

Price Information
* Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Additional Fees Information
Please be aware there may be additional fees payable on top of the final sale price. This includes and are not limited to administration charges and buyer's premium fees payable on exchange, and disbursements payable on completion. Please ensure you check the property information page for a list of any relevant additional fees as well as reading the legal pack for any disbursements.