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No longer on the market

This property is no longer on the market

3 bedroom property

Under offer
Property
3 beds
Added > 14 days

Key information

TenureFreehold
Council taxAsk agent

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
FOR SALE BY ONLINE AUCTION 10th November 2020. Terms and conditions apply. Please contact the team for information on how to bid.

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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Area statistics

Crime score
Low crime
2/10

About this agent

Pattinson - Commercial
Pattinson - Commercial
2 Hill Street, Gateshead Tyne and Wear NE8 2AS
0191 392 0913
Full profileProperty listings
Pattinson Estate Agency is an award-winning family-run business that was Launched in 1977 on Independence Day. This is no coincidence, as independence is central to our company ethos. We are the most recognised estate agency in the North East, and in that time we have grown from 1 office to 28, with 300 members of staff, and we officially sell more properties in the North East, than any other estate agency. However, we don’t just sell houses! Our many property services include sales, lettings (property management), auction, commercial, financial services, conveyance and surveys, and we have it all under one roof! We can be contacted 6 days a week at extended hours, as we have a dedicated Regional Team who take the overspill calls from our 28 branches, so all client relationships are built and maintained. At Pattinsons, we are innovative leaders in the property industry, with pro-active selling, a reliable reputation, and substantial repeat business. Our national secure sale department, ‘Pattinson Auction’, was launched 33 years ago, and is going from strength to strength. As serious players in the field of digital marketing, we successfully utilise the social media platforms TikTok, Facebook and Instagram as part of our extensive marketing process. We have a wealth of knowledge and an expansive network to help find the best solution for you and your property requirements. You can trust Pattinsons, the North East’s leading estate agency.
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