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Ts1 + Ts17 + Ts18 QUEENS C A MPUS PORTFOLIO/ TS1 + RESIDENTIAL TS17 INVESTMENT OPPORTUNITY + TS18 QUEENS CAMPUS PORTFOLIO MIDDLESBROUGH, STOCKTON-ON-TEES AND THORNABY-ON-TEES MIDDLESBROUGH / STOCKTON-ON-TEES / THORNABY-ON-TEES • TS1 / TS17 / TS18 QUEENS C A MPUS PORTFOLIO/ // 01 INVESTMENT SUMMARY 60 10 MEARS The properties are let via A portfolio of 60 Locations include Individually let to Mears The leases are Mears Limited are part the 10 year Home Office houses/flats in Middlesbrough, Limited on 10 year leases uncapped subject of Mears Group PLC and ‘Asylum Accommodation the North East Stockton-on-Tees at a total rent of to annual rent are a UK market leader in & Support Services of England and Thornaby-on-Tees £436,807 per annum increases to CPI housing and care sector Contract’ Offers are sought in excess of £6,000,000 (Six Million Pounds) subject to contract. A purchase at this level would reflect an attractive gross yield of 7.28% rising to 8.70% (assuming CPI at 2%) MIDDLESBROUGH / STOCKTON-ON-TEES / THORNABY-ON-TEES • TS1 / TS17 / TS18 QUEENS C A MPUS PORTFOLIO/ // 02 A69 A69 NEWCASTLE Haltwhistle UPON TYNE SUNDERLAND NORTH SEA A1(M) LOCATION Alston MIDDLESBROUGH A19 Stanhope A167 Middlesbrough lies in the southernmost part of the North East of England and is positioned between coast and country. 60 A689 It’s approximately 1 hour 15 minutes’ drive north of Leeds, and 50 DURHAM TEESPORT 59 minutes’ drive south of Newcastle. Middlesbrough has a population A66 A688 STOCKTON A66 -ON-TEES MIDDLESBROUGH of 175,000 and is part of the larger built-up area of Teesside which TEESIDE AIRPORT 57 A66 had an overall population of 380,000. Local employers include DARLINGTON A19 A171 A685 INEOS, SABIC Petrochemicals, Marlow Foods, Brookfield Ports A172 and Barker & Stonehouse. Richmond Gothland Hawes SCARBOROUGH BARKER AND A19 STONEHOUSE A1(M) Masham A170 A170 50 A64 STOCKTON-ON-TEES A65 A61 Grassington Stockton-on-Tees is a town in County Durham. The town has a A19 HARROGATE population of 85,000, with a population of around 196,000 in the A166 A65 A59 A59 DURHAM UNIVERSITY QUEENS CAMPUS SPORTS CENTRE wider area. The town is close to Middlesbrough, Darlington and YORK A164 Teeside Airport. Teesport which is the UK’s third largest port, is also nearby. The port handles the largest amount of outbound traffic A19 A177 A66 of any port in the UK. Local employers include: STOCKTON STATION A1046 STOCKTON -ON-TEES RIVER TEES A1305 DURHAM UNIVERSITY MIDDLESBROUGH QUEEN’S CAMPUS THORNABY STATION THORNABY-ON-TEES TEESIDE SHOPPING Thornaby-on-Tees is a royal charter town in North Yorkshire, PARK A1130 England. It is situated on the south bank of the River Tees. It lies A135 2 miles south-east of Stockton-on-Tees and 4 miles southwest A66 THORNABY -ON-TEES of Middlesbrough. Durham University Queens Campus is located in Thornaby-on-Tees. A135 A19 A1045 A174 INFINITY BRIDGE / STOCKTON-ON-TEES MIDDLESBROUGH / STOCKTON-ON-TEES / THORNABY-ON-TEES • TS1 / TS17 / TS18 QUEENS C A MPUS PORTFOLIO/ // 03 A19 MIDDLESBROUGH RAILWAY STATION MIDDLESBROUGH STOCKTON-ON-TEES RAILWAY STATION A66 STOCKTON-ON-TEES INFINITY BRIDGE DURHAM UNIVERSITY QUEEN CAMPUS THORNABY RAILWAY A66 STATION A135 THE PORTFOLIO THORNABY-ON-TEES The majority of the portfolio is located in the TS1/TS17/18 postcode area, which is A1130 Middlesbrough, Thornaby-on-Tees and Stockton-on-Tees. The whole of portfolio RIVER TEES is made up of houses apart from 18 Yarm Road which is split in to 5 flats. The total portfolio consists of 60 houses/flats and A19 204 beds. The majority of the houses are terraced properties but there are a number of mews houses near Durham University’s Queens Campus. MIDDLESBROUGH / STOCKTON-ON-TEES / THORNABY-ON-TEES • TS1 / TS17 / TS18 QUEENS C A MPUS PORTFOLIO/ // 04 TENANCY SCHEDULE LEASE LEASE LEASE LEASE PROPERTY AREA POSTCODE BEDS START END RENT TENURE PROPERTY AREA POSTCODE BEDS START END RENT TENURE 1 Cadogan Street Middlesbrough TS1 4JT 3 02/12/19 01/12/29 £5,928 Freehold 55 Oxford Road Thornaby TS17 6LW 4 01/11/19 31/10/29 £7,779 Freehold 23 Clarendon Road Middlesbrough TS1 3DW 4 06/12/19 05/12/29 £7,779 Freehold 71 Oxford Road Thornaby TS17 6LW 5 22/10/19 21/10/29 £10,920 Freehold 7 Bishopton Road Stockton TS19 0AN 5 31/10/19 30/10/29 £10,920 Freehold 69 Peel Street Thornaby TS17 6JN 3 01/11/19 31/10/29 £5,928 Freehold 84 Camden Street Stockton TS18 3LA 3 29/11/19 28/11/29 £5,928 Freehold 68 Roseberry View Thornaby TS17 7HS 4 19/12/19 18/12/29 £7,779 Freehold 100 Camden Street Stockton TS18 3LA 3 10/09/19 09/09/29 £5,928 Freehold 2 Scarborough Street Thornaby TS17 6HR 4 09/09/19 08/09/29 £7,779 Freehold 28 Dixon Street Stockton TS18 1PE 4 13/11/19 12/11/29 £7,779 Freehold 19 Stainsby Street Thornaby TS17 6HP 4 15/08/19 14/08/29 £7,779 Freehold 45 Dixon Street Stockton TS18 1PA 7 08/11/19 07/11/29 £15,288 Freehold 13 St Paul's Road Thornaby TS17 6LQ 4 22/11/19 21/11/29 £7,779 Freehold 7 Egglestone Terrace Stockton TS18 1JR 4 30/08/19 29/08/29 £7,779 Freehold 23 St Paul’s Road Thornaby TS17 6LQ 4 06/12/19 05/12/29 £7,779 Freehold 24 Grove Street Stockton TS18 3JA 3 24/10/19 23/10/29 £5,928 Freehold 17 Stranton Street Thornaby TS17 6LL 3 11/07/19 10/07/29 £5,928 Freehold 18 Northcote Street Stockton TS18 3JB 1 04/09/19 03/09/29 £4,357 Freehold 49 Stranton Street Thornaby TS17 6LN 3 30/08/19 29/08/29 £5,928 Freehold 18a Northcote Street Stockton TS18 3JB 2 01/08/19 31/07/29 £5,086 Freehold 13 Teesdale Terrace Thornaby TS17 7ES 4 18/10/19 17/10/29 £7,779 Freehold 39 Palmerston Street Stockton TS18 1NU 4 01/10/19 30/11/29 £7,779 Freehold 20 Victoria Road Thornaby TS17 6HH 4 03/10/19 02/10/29 £7,779 Freehold 1 Villa Terrace Stockton TS18 1JA 6 30/10/19 29/10/29 £13,104 Freehold 32 Victoria Road Thornaby TS17 6HH 4 29/11/19 28/11/29 £7,779 Freehold 2 Villa Terrace Stockton TS18 1JA 6 30/10/19 29/10/29 £13,104 Freehold 54 Victoria Road Thornaby TS17 6HH 4 24/10/19 23/10/29 £7,779 Freehold 20 Walter Street Stockton TS18 3PW 3 15/08/19 14/08/29 £5,928 Freehold 118 Westbury Street Thornaby TS17 6NA 4 04/10/19 03/10/29 £7,779 Freehold 18 Yarm Road, Flat 1 Stockton TS18 3NA 1 06/12/19 05/12/29 £4,356 Freehold 41 Westbury Street Thornaby TS17 6NP 4 01/08/19 31/07/29 £7,779 Freehold 18 Yarm Road, Flat 2 Stockton TS18 3NA 1 21/10/19 20/10/29 £4,356 Freehold 123 Westbury Street Thornaby TS17 6NF 1 21/08/19 20/08/29 £4,356 Freehold 18 Yarm Road, Flat 3 Stockton TS18 3NA 1 04/10/19 03/10/29 £4,356 Freehold 123a Westbury Street Thornaby TS17 6NF 2 18/10/19 17/10/29 £5,086 Freehold 18 Yarm Road, Flat 4 Stockton TS18 3NA 2 13/08/19 12/08/29 £5,086 Freehold 159 Westbury Street Thornaby TS17 6NE 4 21/11/19 20/11/29 £7,779 Freehold 18 Yarm Road, Flat 5 Stockton TS18 3NA 2 14/08/19 13/08/29 £5,086 Freehold TOTAL 204 £436,807 8 Anchorage Mews Thornaby TS17 6BG 4 13/12/19 12/12/29 £7,779 Freehold 3 Trinity Mews Thornaby TS17 6BQ 2 17/01/20 16/01/30 £5,086 Long Leasehold EXAMPLE OF GROSS YIELD PERFORMANCE 17 Trinity Mews Thornaby TS17 6BQ 2 07/07/19 06/07/29 £5,086 Freehold OVER LEASE PERIOD ASSUMING 2% CPI PA 41 Trinity Mews Thornaby TS17 6BQ 2 11/07/19 10/07/29 £5,086 Freehold £540,000 9.00% 42 Trinity Mews Thornaby TS17 6BQ 2 24/09/19 23/09/29 £5,086 Freehold £520,000 44 Trinity Mews Thornaby TS17 6BQ 2 25/07/19 24/07/29 £5,086 Freehold 47 Trinity Mews Thornaby TS17 6BQ 2 20/08/19 19/08/29 £5,086 Freehold 8.50% £500,000 48 Trinity Mews Thornaby TS17 6BQ 2 17/09/19 16/09/29 £5,086 Freehold 50 Trinity Mews Thornaby TS17 6BQ 2 24/10/19 23/10/29 £5,086 Freehold £480,000 8.00% 51 Trinity Mews Thornaby TS17 6BQ 2 30/06/19 29/06/29 £5,086 Freehold 57 Trinity Mews Thornaby TS17 6BQ 4 02/08/19 01/08/29 £7,779 Long Leasehold £460,000 5 Cambridge Road Thornaby TS17 6LP 5 23/10/19 22/10/29 £10,920 Freehold 7.50% 31 Cambridge Road Thornaby TS17 6LP 5 22/10/19 05/12/29 £10,920 Freehold £440,000 34 Cambridge Road Thornaby TS17 6LR 5 06/12/19 05/12/29 £10,920 Freehold 52 Cambridge Road Thornaby TS17 6LR 5 18/12/19 17/12/29 £10,920 Freehold £420,000 7.00% 8 Cheltenham Avenue Thornaby TS17 7HX 4 18/10/19 17/10/29 £7,779 Freehold £400,000 58 Cobden Street Thornaby TS17 7EP 4 19/08/19 18/08/29 £7,779 Freehold 29 Grange Road Thornaby TS17 6LT 4 16/08/19 15/08/29 £7,779 Freehold £380,000 6.50% 75 Grange Road Thornaby TS17 6LT 4 23/10/19 22/10/29 £7,779 Freehold 12345678910 77 Grange Road Thornaby TS17 6LT 4 26/09/19 25/09/29 £7,779 Freehold Rent (PA) £436,807 £445,543 £454,454 £463,543 £472,814 £482,270 £491,916 £501,754 £511,789 £522,025 15 Heslop Street Thornaby TS17 7HA 4 31/10/19 30/10/29 £7,779 Freehold Gross Yield 7.28% 7.43% 7.57% 7.73% 7.88% 8.04% 8.20% 8.36% 8.53% 8.70% MIDDLESBROUGH / STOCKTON-ON-TEES / THORNABY-ON-TEES • TS1 / TS17 / TS18 QUEENS C A MPUS PORTFOLIO/ // 05 PROPERTY LOCATIONS BOROUGH ROAD A66 STOCKTON PORTRACK LANE NEWPORT ROAD A1046 A19 -ON-TEES MARITIME ROAD STOCKTON NEWPORT BRIDGE STATION A1305 CHURCH ROAD A1305 MIDDLESBROUGH PRINCE A1032 REGENT STREET RIVER TEES DURHAM UNIVERSITY B1272 QUEEN’S CAMPUS PRINCETON DRIVE STOCKTON ROAD RIVERSIDE A66 LINTHORPE ROAD BRIDGE ROAD YARM LANE THORNABY STATION WEST LANE MANDALE ROAD ACKLAM ROAD A135 A1130 A19 THE AVENUE ACKLAM ROAD LINTHORPE LEVICK CRES BOWESFIELD LANE EMERSON AVE A66 THORNABY A1130 THORNABY ROAD -ON-TEES GREEN LANE TOLLESBY A1045 MANDALE ROAD MIDDLESBROUGH / STOCKTON-ON-TEES / THORNABY-ON-TEES • TS1 / TS17 / TS18 QUEENS C A MPUS PORTFOLIO/ // 06 ASYLUM ACCOMMODATION AND COVENANT SUPPORT SERVICES CONTRACT Mears is one of the UK’s leading housing and care providers to both In January 2019, Mears were awarded three new central Mears have an outstanding 30-year track record of providing the public and private sector, with over 12,000 employees, working government contracts to provide accommodation and housing, housing maintenance and care services across the with clients to help develop, fund and implement their placemaking support for asylum seekers.
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