4 Bedroom Mixed Use

Introducing a prime investment opportunity situated in the bustling locale of Stanhope Road, this property beckons savvy investors seeking great returns. Boasting a pair of flats and a commercial shop unit, this property stands tall on a busy road with excellent transport links, ensuring a steady stream of foot traffic and visibility for businesses.

The flats are currently let but will be offered with vacant possession which presents the perfect canvas for landlords to curate their ideal tenant profile and set rents according to market demand, promising an anticipated yield of between £15,600 (currently) and £18,000 per annum. With the freedom to handpick tenants, landlords can tailor their investment strategy to maximize profitability while maintaining full control over their property.

Complementing the residential aspect, the commercial shop unit adds another dimension to this investment gem. Currently leased with approx two years remaining, the shop unit generates a consistent income of £400 per month (awaiting sight of the tenancy agreement), providing a reliable stream of revenue for the foreseeable future.

With its strategic location, versatile rental options, and promising yield potential, this investment property presents a golden opportunity for astute investors looking to capitalize on the investment market. Don’t miss your chance to secure a sound investment that presents both stability and growth in the ever-evolving landscape of property investment.

Property details provided by Andrew Craig
EPC rating: D, C and to be advised
Council Tax band: A
Tenure : Freehold

For Sale By Auction www.agentspropertyauction.com Online Auction 30th April 2024 OPTION 1

Ground Floor Flat
Currently rental income £400PCM.

Entrance
Door into Lobby.

Lobby
Access into Hallway.

Hallway

Lounge
Fire with surround, window and door into Kitchen.

Kitchen
Wall and floor units, part tiling to walls, window, sink unit with mixer tap, plumbing for washing machine, space for oven, boiler is located here, space for fridge freezer and door into Bathroom.

Bathroom
Panelled bath with shower over and shower screen, part tiling to walls, pedestal hand wash basin, low flush W.C., two windows and radiator.

Front Bedroom
Bay window

Externally
Part yard to rear.

First Floor Flat

Entrance
Door into Lobby.

Lobby
Stairs to First Floor Landing.

First Floor Landing
Dual staircase accessing three rooms.

Front Bedroom/Lounge
Electric fire with surround and bay window.

Lounge
Window and door into Kitchen.

Front Bedroom
Bay window.

Rear Bedroom
Radiator.

Kitchen
Wall and floor units, part tiling to walls, window, sink unit with mixer tap, boiler is located here, integrated oven and hob with overhead extractor hood, plumbing for washing machine, door into Bathroom and door leading to stairs down to rear yard.

Bathroom
Panelled bath with shower over and shower screen, pedestal hand wash basin, low flush W.C., radiator, two windows and part tiling to walls.

Externally
Part yard to rear.

Shop
Currently trading as a Mobile Phone Shop.

Front retail shop, accessed via roller shutter doors.

Rear Store Space
Sink unit.

Cloaks W.C

Disclaimer 1
The Agents Property Auction have not inspected this property. The property details have been supplied by Andrew Craig. 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 £180 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.

Disclaimer 4
We are advised by the seller that the property has mains provided gas, electricity, water and sewerage.

The energy performance certificate attached advises the property is brick built and provides further details regarding the property’s construction.

Ofcom website states the average broadband download speed of 3Mbps the fastest package at this postcode: NE33 4QY and mobile coverage is provided by EE, Three, 02 and Vodaphone