MapProperty for sale
Features and description
- Tenure: Freehold
- Great investment
- Two storey building with outbuildings on a busy street
- Close to the sea front with lots of free parking
- 2 long terms tenants
- Potential for further development
- Ask the office for further details sold via auction
Property Description: 29-30 Church Street, Seaham
An outstanding investment opportunity located in the heart of the vibrant and historic coastal town of Seaham. This large commercial unit is currently home to two long-term tenants generating a combined rental income of £1,700 per calendar month, ensuring immediate and consistent returns for potential investors.
In addition to the already occupied units, the property includes an unused section that offers excellent potential for further rental income. With a strategic refurbishment or leasing plan, this portion could significantly enhance the property's overall yield, making it even more appealing to investors seeking high returns.
Investment Highlights:
Current Income: £1,700 pcm from two reliable tenants.
Potential for Growth: Additional rentable space available for further income generation.
Strong Yield Potential: Competitive rental returns that are likely to attract investors seeking robust yields in a growing area.
Why Seaham?
Seaham is an increasingly popular town with a rich maritime history, beautiful coastal views, and a bustling town centre. It has undergone significant regeneration in recent years, making it a hotspot for businesses and visitors alike. Positioned conveniently between Sunderland and Hartlepool and with excellent transport links to Newcastle and Durham, Seaham offers an attractive location for tenants and customers.
Church Street serves as a key commercial hub within Seaham, featuring a mix of thriving local businesses and national chains, ensuring strong footfall and visibility for commercial properties like this one.
Whether you're a seasoned investor or new to the commercial property market, this opportunity at 29-30 Church Street combines current stability with future potential, all within a growing and dynamic community. Don't miss out on this exceptional prospect!
This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).
If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.
A Buyer Information Pack is provided. The winning bidder will pay £349.00 including VAT for this pack which you must view before bidding.
The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.50% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.
Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450.00. These services are optional.
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