Retail premises for sale in Frazer Terrace, Pelaw, Gateshead NE10

£180,000 (£401.79/sq. ft)
Retail premises for sale 448 sq. ft*
Interested in this property? Call +44 191 686 1492 * or Request Details

* Calls to this number will be recorded for quality, compliance and training purposes.

Property features

  • Corner position property
  • Ground floor retail
  • First floor accommodation
  • Shop tenanted
  • 8,400 per annum
  • Freehold title

Property description

Summary

The subject property is an end terrace two storey building, with a ground floor retail unit with a 3 bedroom flat to the rear and first floor. There flat has separate access from the side on York Street, and a yard to the rear. We have been advised the shop is currently let and generating an income of 8,400 per annum and the flat is rented for 695 per calendar month. Total income approx 16,740 per annum.

It could also be possible to purchase the shop and flat separately.

Location

The property is located on Frazer Terrace, Gateshead. This location is an established area east of Gateshead centre provided a reasonable level of services and facilities.

Accommodation

Ground floor: Retail unit
nia 41.6sqm (447.8sqft)
Please note that this size is sourced from voa and we have not yet gained access to the ground floor.

First floor: Residential accommodation
Kitchen: 9.6sqm (103.3sqft)
Lounge: 20.6sqm (221.5sqft)
Bathroom: 6.8sqm (73.3sqft)
Bedroom one: 18.5sqm (198.7sqft)
Bedroom two: (11.2sqm (120.0sqft)
Bedroom three: (7.8sqm (84.6sqm)

Tenure

Freehold. Title would need to be split should retail be sold separately to residential element.

Lease Details

We have been advised the ground floor retail is currently let to Meet & Greet, a cards/gifts business at 8,400 per annum. The flat is rented at 695 per calendar month. Total income approx 16,740 per annum.

Rateable Value

The adopted rateable value is 2,950 as of 1st April 2017.
Sourced from voa.

EPC

Available upon request.

VAT

We are advised that VAT is not applicable on this transaction.

Additional Information

For further information please contact our office direct on , or alternatively via e-mail on . With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.

Property info

* Sizes listed are approximate. Please contact the agent to confirm actual size.

Arrange Viewing

For more information about this property, please contact
Pattinson - Commercial, NE1 on +44 191 686 1492 * (local rate)

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Pattinson - Commercial, and do not constitute property particulars. Please contact Pattinson - Commercial for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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