For Sale - Under Offer £115,000 - Commercial, Retail
Mixed use investment comprising of ground floor retail unit with separately accessed and separately serviced upper floor flat. The property is in good order for a property of its age and type. Occupier demand in this section of York Road is good with there being a number of complimentary occupiers including furniture retailers, a carpet retailer and other home furnishing retailers.
The property is currently part let producing an annual rental income of £7,000 per annum with potential to increase this to £12,000 per annum upon letting the vacant flat. The ground floor lease expires in October 2022 and the tenant has been in occupation since October 2016.
The property is located on the fringe of Hartlepool town Centre in a highly visible location. To the front of the property is short stay customer parking. Nearby occupiers in the area include a florist, several furniture retailers, a hair salon, a convenience store, a carpet retailer and two home furnishing businesses. Occupier demand in the area for retail premises is good with low void levels.
The ground floor retail unit with basement has a useable floor area of 101 sq m/ 1093 sq ft and includes sales area, office, store room, covered yard, WC and basement.
The upper floors comprise of a flat which includes a ground floor entrance lobby leading to a first floor bathroom, kitchen, living room and single bedroom. On the second floor there are two double bedrooms and a further single bedroom.
As far as we are aware the flat and the retail unit have separate independent supplies of gas, water and electricity in addition to mains drainage. Each part also has its own central heating boiler and wall mounted radiator in all rooms.
Interested parties should satisfy themselves in this regard.
Energy Performance Certificate
Retail Unit – Energy Performance Asset Rating 99 (Band D).
Flat – Energy Efficiency Rating 56 (Band D).
Full certificates available on request.
The premises are available freehold for sale for offers in the region of £115,000.
The ground floor is let under a 3 year lease from October 2019 at a rent of £7,000 per annum. The tenant has been in occupation since 2016.
Ground floor retail unit – £5,600 rateable value.
We understand that the flat falls within council Band A.
Information obtained from the valuation office agency. Please contact your local authority for more information.