Property ID : 179 York Road Hartlepool
For Sale - Available £140,000 - Commercial, Mixed Use, Retail
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Mixed Use Investment in Hartlepool Town Centre
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2 retail units (both let) and one flat (vacant)
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Current rental income £11,000 per annum
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Potential rental income of £17,400 per annum
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Potential gross yield of 11.6%
Description
3 Storey mixed use building which is made up of 2 ground floor retail units which are let to a tattoo parlour and a pottery shop / workshop. The upper floors are a self-contained 3/4 bedroom flat which is currently vacant. The flat could be converted to a HMO or alternatively 2 flats (subject to planning consent).
The current rental income is £11,000 per annum and we would anticipate upon letting the flat for a rent of £450 per month and increasing the Pottery shop rent by £1,000 per annum that this would increase the rent roll to £17,400 per annum which represents a gross yield of 11.6%
Location
The property is situated on the corner of York Rd and Lister Street in a visible position within Hartlepool Town Centre. Surrounding occupiers include various retail units, offices, hair & beauty salon, takeaways and barbers. There is free short stay parking on York Rd and a number of town centre car parks in close proximity.
Accommodation
179 York Rd – Ground floor retail unit extending to 82.98 sq m/893 sq ft currently let as a pottery shop.
37 Lister Street – Ground floor retail unit extending to 24.8 sq m / 267 sq ft currently let as a tattoo parlor.
37a Lister Street – First & Second floor flat which has 3/4 bedrooms and is currently vacant.
Services
179 York Rd – Gas, water and electricity.
37 Lister Street – Water and electricity.
37a Lister Street – Gas, water and electricity.
Energy Performance Certificate
179 York Rd – Energy Rating B
37 Lister Street – Energy Rating C
37a Lister Street – Energy Rating D
Terms
For sale freehold subject to the existing tenancies at an asking price of £140,000.
Tenancy Agreements
179 York Rd – Let under a lease expiring on the 30th August 2028 at a rent of £7,000 per annum. There is a rent review due with effect from 1st September 2025.
37 Lister Street – Let under a lease expiring in September 2027 at a rent of £4,000 per annum.
37a Lister Street – vacant.
Contact Information
For further information please contact Greig Cavey Commercial Limited.