Shop with Living Accommodation

Investment opportunity or ideal for anyone seeking a retail unit that they can live above.

When fully let on previous terms, this mixed use property represents a gross return on investment of 8% at the full asking price.

On street level, there is a good sized, vacant, retail unit which in previous years has been a hair dressers and most recently an arts and crafts shop. This has previously been let at £475 per calendar month. There is one main room then at the back there is a kitchenette / staff room and a wc.

On the first floor there is a one bedroom flat which has previously been let for £325 per calendar month, although this too is currently vacant. There is a large living room/dining room arranged around a fireplace, a bedroom with kitchen and shower room accessed just off this. The flat has been recently decorated, had a new kitchen fitted and has had new carpets fitted throughout.

Both properties have independent access, however are currently joined via an internal door so could be used by two separate parties, or by anyone wishing to live above their business. Both parties have independent gas heating systems.

Other businesses on Hope street include a number of food outlets, pubs, hairdressers and shops.

Property details provided by RMS Estate Agents
EPC rating: D and E for flat.
Council Tax band: N/A
Tenure : Freehold

For Sale By Auction www.agentspropertyauction.com LIVE ONLINE AUCTION 28 September 2023 OPTION 2

Disclaimer 1
The Agents Property Auction have not inspected this property. The property details have been supplied by JWW. None of the services have been tested. Measurements, where given, are approximate and for descriptive purposes only. Boundaries cannot be guaranteed and must be checked by solicitors prior to exchanging contracts. The details are provided in good faith, are set out as a general guide only and do not constitute any part of a contract. No member of staff has any authority to make or give representation or warranty in relation to this property.
For sale by auction see www.agentspropertyauction.com

Disclaimer 2
Each auction property is offered at a guide price and is also subject to a reserve price. The guide price is the level where the bidding will commence. The reserve price is the sellers minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price, which may be up to 10% higher than the guide price, is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction. The successful buyer pays a £2000+vat (total £2400) Auction Administration Fee. At your request we can refer you to a North East based Solicitor from our panel. It is your decision whether you choose to deal with them, should you decide to use them you should know that we would receive a referral fee of £120 including Vat from them for the recommendation.

Disclaimer 3
A copy of the title is available upon request, we recommend all potential buyers take legal advice, satisfy their requirements on all matters and have finance in place prior to purchase.

Details awaiting vendors approval.