Stewart & Wight has announced that it has entered into a contract to purchase a freehold retail property at 75 Linthorpe Road, Middlesbrough for £620,000.
The Company said the purchase will be paid for out of existing funds.
The property is currently let to HK Foods on a ten year lease from 2 September 2016 at a current rent of £45,000 per annum with an upward only rent review on 2 September 2021.
The property is let on a full repairing and insuring lease.
At 1:10pm: (LON:STE) Stewart Wight PLC share price was +15p at 500p
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