Retail property (high street) for sale

LOCATION
OF INTEREST TO INVESTORS

Located in a prominent position in the centre of the Sea Road shopping area with a range of local and national occupiers close by. It is within easy reach of the sea front, Roker Park and the City centre. The property is well served by local bus routes and is a short walk from Seaburn Metro Station which provides access to Newcastle and South Shields. The shop is let and trades as a post office. The first floor flat is let separately and is well presented throughout. Secure tenants and potential for rental growth. Ground floor: Sales 38 sqm Ancillary 14 sqm. First Floor: Entrance vestibule, landing, 2 bedrooms, lounge, kitchen, bathroom/wc, gas central heating, uPVC double glazing, shared rear yard.

DESCRIPTION
The property is divided into a ground floor shop with a self contained 2 bedroom flat above. The shop trades as a Post Office and the flat has a separate tenant. The properties are occupied and let on the basis set out below.

ACCOMMODATION
GROUND FLOOR (SHOP)
Front sales and rear storage

Sales 38 sq m

Storage 9 sq m

Kitchen 5 sq m

Cloakroom/wc

Rear lobby with access to shared yard

Tiled Floor to shop
Suspended Ceiling

Ground floor is let to an individual who trades as a Post Office. The current lease is for 25 years from 2015. The passing rent is £10,200 per annum.

The flat is occupied on an Assured Shorthold Tenancy at a passing rent of £595 per calendar month

Business Rates
The current rateable value is £10,000

The Flat is listed as Band A for Council Tax purposes

Features
Electric roller shutter to shop

FIRST FLOOR FLAT

Entrance Vestibule
Stairs to first floor; spotlights

Landing

Lounge
4.07m x 3.15m to chimney breast
Gas living flame fire with granite hearth and granite inset; radiator

Kitchen
4.36m x 2.51m
Comprehensive range of fitted wall and floor units having working surface; single drainer stainless steel sink unit with one bowl sink and with mixer tap; built in electric oven; gas hob; stainless steel extractor hood; tiled splashback; tiled floor; spotlights; radiator; door leading to stairs to access yard

Bedroom 1
4.06m x 3.53m max (2.97m min)
High level storage cupboards; radiator

Bedroom 2
3.08m x 1.93m
Radiator

Bathroom/wc
Panel bath with shower over; pedestal hand basin; low level wc (white suite); partly tiled walls; tiled floor; spotlights; panelling to ceiling; Baxi wall mounted combi boiler; radiator

Extras (Included in price): Gas central heating
uPVC double glazing

Excellent modern decor throughout

Shared rear yard with access from shop via an external staircase from the flat.

EPC Rating Band D (shop)
EPC Rating E (flat)

We understand that the property is Freehold with a perpetual yearly rent charge of £3.91 per annum

Offers Around £204,950

VIEWING
VIEWING: By appointment through this office