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Craighton House Queen St 4,100 sq ft 65% Let Retail Property Redcar TS10 1DL £900,000 (£219.51/sq ft) 10.69% Net Initial Yield
Investment Highlights
- Prominent mixed-use investment and development opportunity in Redcar town centre
- Comprises three commercial units and nine existing self-contained flats
- Stated combined current and potential income of approximately £96,240 per annum
- Allocated parking for approximately 20 vehicles
Executive Summary
Craigton House, Central Terrace, Redcar, North Yorkshire, TS10 1DJ, is a mixed-use investment and development opportunity in Redcar town centre. The property currently comprises three ground-floor commercial units, nine self-contained residential apartments and allocated parking for approximately 20 vehicles. Existing residential accommodation generates £48,240 per annum, while the broader current and potential income is stated at approximately £96,240 per annum. The property also benefits from outline planning permission, reference R/2025/0437/OOM, for two additional storeys above the existing building, a four-storey rear extension and ground-floor parking provision, creating 30 additional apartments and increasing the total to 39 apartments.
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront Retail / Residential
Property Size
4,100 sq ft
Costar Property Class
B
Year Built
1960
Price
£900,000
Price per sq ft
£219.51
Yield
10.69%
NOI
£96,210
Occupancy Rate
65%
Tenancy
Multiple
Number of Floors
3
Plot ratio
0.41
Total Plot Size
0.23 ac
Parking
20 Spaces (1.65 Spaces per 1,000 sq ft Leased)
Amenities
- Security System
- Accent Lighting
- EPC - D
- Roller Shutters
- Storage Space
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Benefitting from excellent frontage and visibility, the premises are ideally suited to a variety of commercial uses including retail, office, consultancy, or service-based businesses.
| Space | Size | Space Use | Position | Available |
| Ground | 1,447 sq ft | Retail | In-Line | Now |
Ground
| Size |
| 1,447 sq ft |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
Ground
| Size | 1,447 sq ft |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
Benefitting from excellent frontage and visibility, the premises are ideally suited to a variety of commercial uses including retail, office, consultancy, or service-based businesses.
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Craighton House | Queen St
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