Commercial Property for auction in Middlesbrough

Description

Substantial Freehold Town Centre Redevelopment Opportunity - Vacant 49,000+ sq ft Commercial Building with Adjacent Car Park.

A rare opportunity to acquire a significant freehold commercial premises in the heart of Middlesbrough town centre. Extending to approximately 49,014 sq ft across six levels (basement, ground, and four upper floors), Exchange House offers scope for redevelopment or refurbishment, subject to planning. The whole property is vacant and requires full renovation, making it ideally suited for conversion to residential apartments, or a mixed-use scheme with ground floor commercial units and residential accommodation above.

Included in the sale is the Wood Street Car Park, directly to the rear of the building, extending to approx. 0.29 acres and also vacant - providing valuable additional space for parking, development, or amenity use.

Exchange House occupies a prominent position in Exchange Square, a well-connected part of central Middlesbrough just moments from the railway station, local bus routes, and a range of shops, cafes, and public services. The area is undergoing wider regeneration, offering strong future potential.

Site Area

Exchange House site area: 0.15 hectares (0.26 acres). Wood Street Car Park site area: 0.11 hectares (0.29 acres). Total: 0.26 hectares (0.65 acres)

Tenure

Freehold

Planning

For any pre-application advice, interested parties should consult directly with the Local Planning Authority: Middlesbrough Council, PO Box 500, Middlesbrough, TS1 9FT. Telephone: 01642 729 300. Email: developmentcontrol@middlesbrough.gov.uk

Occupancy

Vacant posession upon completion

Costs

Auction Details

The sale of this property will take place on the stated date by way of Multi lot timed auction and is being sold under the Unconditional sale type.

Binding contracts will be exchanged at the point of sale.

All sales are subject to our Common Auction Conditions and Bidder Terms. Properties located in Scotland and Northern Ireland will be subject to applicable local laws.

Auction Deposit and Fees

The following deposits and non- refundable auctioneers fees apply:

• 10% deposit (subject to a minimum of £5,000)

• Buyer’s Fee of 2.4% of the purchase price (subject to a minimum of £2,400 inc. VAT)

There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.

Additional Information

For full details about our auction processes, please refer to the Bidder Terms which can be viewed on our home page.

This explains the types of auction and sale methods we offer, the bidding registration process, your payment obligations, and how to view the Legal Pack (and any applicable home report for residential Scottish properties).

Guide Price & Reserve Price

Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.

General

The pre-authorisation of the bidding deposit for this lot is £10,000.