Park Tower Park Rd 38,736 SF 85% Leased Office Building Hartlepool TS26 9HU $1,134,483 ($29.29/SF)

The subject property is a Grade ll Listed mixed-use building consisting of four ground floor retail/office buildings and 2 apartments. There are 50 residential apartments above, of which 48 have been sold on a long leasehold basis and produce a ground rent. Two flats have been retained on a freehold basis. Externally, there is car parking to the rear and within the basement, though the basement car parking is for the apartments that have been sold off on a leasehold basis.
One of the commercial units is of a shell specification. The other three are occupied and
fitted to the respective tenant’s own specification. As for the two flats retained Freehold, unit 201 has one bedroom and is situated on the second floor and the Penthouse is situated on the third floor with further accommodation within the clock tower this has two bedrooms.
There is an opportunity to refurbish vacant space to generate additional rental income and we understand that the ground rent is subject to index linked reviews on a 10 yearly basis.