For Sale - Available, Subject to VAT £95,000 - Commercial, Investment Property, Retail
- Investment Opportunity
- Let at £9,000 per annum (9.47% GIY on asking price)
- 10 year lease expiring September 2035
- Bar/Restaurant extending to 132 sq m/1,418 Sq ft
- Popular Location for leisure occupiers
- Attractive location on Hartlepool Marina
Description
The property was developed in 2000 and comprises a mixed-use building of brick construction arranged over ground floor with residential to the upper floors. The unit is located on the ground floor of the property and was previously used as a bar/restaurant.
Location
The premises are located on Hartlepool Marina close to Hartlepool Town Centre and Hartlepool train station. Nearby occupiers include a variety of bars, restaurants, offices and shops as well as a significant number of residential flats. Ample car parking is available to the front which is free after 6pm. The Marina is arguably Hartlepool’s premier/prime leisure offering.
Accommodation
The property extends to 132 sq m/1,418 Sq ft and comprises of a seating area/bar, kitchen, W/C and a ladies/disabled W/C.
Lease
The property is let as a restaurant producing an annual income of £9,000 per annum, on a 10 year lease from September 2025 with a break option and upward only rent review to Market Rent on 5th anniversary.
Services
The property has benefit of mains supplies of water and electricity in addition to mains drainage.
Energy Performance Certificate
Energy Performance Asset Rating 48 (Band B). Full Certificate Available on request.
Terms
The premises are available to purchase leasehold for offers in the region of £95,000 plus VAT.
Held for a term of approximately 1045 years from 5 July 2017 and expiring 31 December 3012 at ground rent of £500 per annum and increasing by £250 every ten years with the next increase on 1 January 2036.
Rating Assessment
£16,250 obtained from the Valuation Office Agency (www.voa.gov.uk). The UBR for the period 2026/2027 is 38.2p in the pound. Rates payable are therefore £6,207.5 less any Small Business Relief or any other discounts, which might be applicable.
Please contact your local authority for more information.
Contact Information
For further information and viewings please contact Greig Cavey Commercial Limited on 01429 275791 or e-mail enquiries@greigcavey.com