Commercial property for sale in 66 Murray Street, Hartlepool TS26

❖ Self contained retail unit and flat
❖ Fully let producing an annual rental income of £9,300 per annum
❖ Gross Yield of 12.4%
❖ Tenant of ground floor in occupation for over 10 years
❖ Flat let on Assured Shorthold Tenancy

Description
The fully let investment comprising of a self-contained retail unit with separately accessed and self-contained two bedroom flat. The retail unit produces and annual rental income of £5,400 per annum and the flat £3,900 per annum. Based on the asking price this would represent an attractive 12.4 % gross yield.

Location
The property is located on Murray Street on the fringe of Hartlepool Town centre. Murray Street is of mixed use and comprises of a variety of retail units, hot food takeaways, charity shops and convenience stores as well as dwellings. There is a designated car park close to the subject property which is free and also free on street parking.

Accommodation
The ground floor retail units extends to approximately 55 sq m / 592 sq ft. The first floor flat comprises of a ground floor entrance hallway, kitchen, bathroom, lounge and two bedrooms.

Services
As far as we are aware the ground floor retail unit has its own independent supply of electricity. The upper floor flat has its own independent supplies of gas and electricity. The property has access to mains drainage and water. Interested parties should make their own enquiries in this regard.

Energy Performance Certificate
Flat - Energy Efficiency Rating E (49).
Retail Unit – Energy Performance has been commissioned and is available on request.

Tenancies
The ground floor retail let at a rent of £5,400 per annum to an individual. The tenant has been in occupation for over 10 years and is holding over.
The flat is let by way of an assured shorthold tenancy at a rent of £325 per calendar month which commenced in May 2023.

Terms
For Sale Freehold at an asking price of £75,000 subject to the existing tenancies.

Rating Assessment & Council Tax
Rateable Value Shop - £3,250
Flat Council Tax - Band A

Contact Information
For further information please contact Greig Cavey Commercial Limited