2 bedroom terraced house for sale
Key information
Property description & features
Total rental income of £18,000 per annum
Total size of 110.42 m² (1,189 ft²)
Prominent high street location
EPC Rating for flat of E54
EPC rating for unit of D76
LOCATION
The subject property is located on Laburnum Terrace in Ashington. Laburnum Terrace is situated in a mixed use location, approximately 0.5 miles from Ashington town centre and is surrounded by housing estates as well as local and national retailers and amenities including Co-op Food, Sweet ‘n’ Savoury, Betty Bakes and Cakes, Seaton Park Medical Group and Ocean Treasure.
The property is accessible by public transport with bus routes servicing Milburn Road, providing direct access to Morpeth, Bedlington, Blyth and Newcastle upon Tyne city centre. The property is also accessible by road with the A196 just 0.4 miles away and the A189 is 1.5 miles away.
DESCRIPTION
The subject property comprises a mixed use, mid-terrace building which is arranged over ground and first floor. The ground floor provides retail accommodation with kitchen and WC facilities. The upper floor comprise a two bedroom flat with living area/kitchen and bathroom. The property is supplied with gas central heating.
ACCOMMODATION
We calculate the approximate net/gross internal floor areas to be as follows:
Commercial Unit 66.38 m² 715 ft²
Flat 44.04 m² 474 ft²
Total 110.42 m² 1,189 ft²
EPC RATING
Commercial Unit - D76
Flat – E54
TENANCY
The commercial unit tenant signed a new 10-year lease in December 2019 and achieves £12,000 per annum. There are 5 years and 6 months unexpired. The flat is currently let and achieves £6,000 per annum. Therefore, the total rental income is £18,000 per annum.
RATING ASSESSMENT
The rateable value of the commercial premises as at 1 April 2023 is £7,800 and the estimated rates payable for the current year is £3,892.20. This is based on the standard Small Business Rate of 49.9p in the pound, however, interested parties should confirm the current position with the Local Authority.
TERMS
The freehold of the property is available with offers in the region of £199,000 (One Hundred and Ninety-Nine Thousand Pounds).
VAT
All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall upon 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 we are required to verify the identify of the Purchaser/Tenant. We will do so based on name and address data provided but we may also require you to provide two forms of identification. We will require the Purchaser/Tenant to provide proof of the source of income.
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*DISCLAIMER
Property reference NUT240111. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Bradley Hall - Durham.
OnTheMarket may have applied supplementary data to this property listing, including:
Broadband availability and predicted speed: obtained from Ofcom on February 10, 2022
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength: obtained from Ofcom on February 10, 2022
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
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