Map
Area statsRetail property (high street) for sale
Features and description
- Excellent Investment opportunity over 12% Gross Yield Potential
- Close To High Street/ Public Transport
- One Good Long Standing Tenant
- Potential For An Additional or Extended Unit
We are pleased to offer to auction this mixed use premises, situated on the well located Hartington Road. The property comprises of a ground floor retail unit formally used as a shop. In addition to the retail unit, there are 2 two first floor apartments. In addition there is a large store room facility on the first floor to the rear of the property which with the relevant permissions could be made into an additional flat, office or one could even extend the retail property into this area. The flat has previously been rented for £350 per calendar month which would achieve £400 and one of the flats is tenanted with a long standing tenant and another in need of some light updating in order to relet which within minimal spend would both relet for over £400 per cal month.
Terrific investment opportunity with potential rental yield £1200 per cal month £14.400 per year representing a gross yield of 12.4%. The first floor flat and shop are being offered with vacant possession. The income yield would increase significantly further if the rear store room was converted into a separate unit
An early viewing is strongly advised to avoid disappointment.
PRIMARY SERVICES SUPPLY
Electricity: mains
Water: mains
Sewerage: mains
Heating: mains
Broadband: fibre
Mobile Signal Coverage Blackspot: no
Parking: On street
MINING
The property is not known to be on a coalfield and not known to be directly impacted by the effect of other mining activity. The North East region is famous for its rich mining heritage and confirmation should be sought from a conveyancer as to its effect on the property, if any.
TENURE
Freehold
COUNCIL TAX BAND FLATS: A
Rooms
Location
The subject property is located along Hartington Road, situated within a sought after location and is ideally located close to transport links and local amenities to include shops and schools.
Accommodation
The accommodation briefly comprises:- To the ground floor- retail unit with cloakroom WC; entrance hallway leading to large storage room (with separate external access) and stairs to first floor apartments. To the first floor:-flat 1, two bedrooms, hallway, bathroom and through lounge/kitchen. To the second apartment, lounge, kitchen, bathroom, rear hallway and 3 bedrooms.
Tenure
Freehold. Title CE58172 for 90 Hartington Road, Flat 1 90 Hartington Road, and Flat 2 90 Hartington Road, Stockton -On -Tees TS18 1HE
Ratable value
The current rateable value is £4,250 (1 April 2023 to present).
Council Tax
Band A
EPC
Available upon Request
Lease Details
We are advised that the tenant in the salon was previously paying £350pcm although he has now vacated. Flat 2 has an AST and are paying £350 per calendar month. Flat one is tenanted at £300 per calendar month.
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