Retail premises for sale in Middle Street, Hartlepool TS27

Opportunity

Bradley Hall is delighted to be appointed to market this neighbourhood mixed use retail/residential property located within Blackhall. This opportunity is for a fully let, high yielding investment with asset management opportunities to increase value.

Location

The block is located within Blackhall, just a short distance from Hartlepool, a district within County Durham. The property benefits from being situated on the busy A1086, linking Hartlepool and Peterlee.

Description

The building is a terraced block of brick construction beneath a pitched slate roof.

To the ground floor comprises a ground floor lock up retail unit, neighbouring a travel agent, charity shop and retail/office use for a charity operation. The ground floor retail unit benefits from front sales area, with storage/kitchen and w/c to the rear and has 3 phase power.

The first floor comprises a 1-bedroom flat comprising kitchen, living room, storage and w.c and in good condition.

Accommodation

48 Middle Street, Blackhall, TS27 4EA 71.82 m2 (773 sq ft)
48A Middle Street, Blackhall, TS27 4EA 56.00 m2 (602 sq ft
127.82 m2 (1375 sq ft)

Investment details

The passing rent is £11,160 per annum. Grace Hair Salon occupy under lease which is holding over.
The tenant of the first floor flat occupies on an Assured Shorthold Tenancy.
A sale at the asking price reflects a gross yield of 11.16%.

Tenure

The properties are to be sold freehold.

Asking price

We are instructed to invite offers of £99,950 for our client’s interest.

VAT

All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall on this basis, and where silent, offers will be deemed net of VAT.

Legal costs

Each party is to bear their own legal costs involved in the transaction.

Anti-money laundering regulations

In accordance with the Anti-Money Laundering Regulations the Purchaser/Tenant will be required to provide two forms of identification and proof of the source of income.