3 bedroom property
Key information
Features and description
- Two storey, three floor property
- Ground floor fish and chip shop
- 3 bedroom house
- Fully let for £8,400 per annum
- Net initial yield of 14%
- Freehold title
We are pleased to offer to auction this two storey, three floor mixed use investment property, well located along High Street, West Cornforth, with easy access to all local amenities and transport links. The property comprises a ground floor hot food takeaway unit used as a fish and chip shop, plus a 3 bedroom house which is in need of some modernisation. The property is let to one tenant for £8,400 per annum, offering an excellent investment opportunity.
Rooms
Location
The subject property is located along West Cornforth High Street. The property is well located along the main street with easy access to all local amenities and transport links. The closest bus stop is a minutes walk away and access to the A1. The subject property is 23 miles south of Newcastle upon Tyne and 18 miles north of Middlesbrough.
Commercial Accommodation
GROUND FLOOR
Main service area: 30.63sqm
Kitchen area: 5.64sqm
Prep room 1: 8.06sqm
Prep room 2: 8.88sqm
W.C.
Residential Accommodation
GROUND FLOOR
Living room: 22.80sqm
Kitchen: 12.47sqm
BASEMENT
Storage
FIRST FLOOR
Bedroom 1: 8.39sqm
Bedroom 2: 17.75sqm
Bedroom 3: 21.09sqm
Bathroom: 11.03sqm
Rateable Value
The adopted rateable value is £2,175 as of 1st April 2020.
Sourced from VOA.
Lease Details
The property is let on a 15 year lease which commenced early 2020, at a rent of £8,400 per annum.
Tenure
Freehold. Title number DU122028.
EPC
Available upon request (rating D).
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