Freehold investment property situated near to Linthorpe Road. Three-Storey property with a ground floor convenience store, garage to rear and 5 bed all en-suite flat situated on the upper floors. This prominent position benefits from high volumes of traffic and footfall leading to Linthorpe Road.
The ground floor commercial unit is let to a convenience store on a 5 year FIR lease which commenced in with a rental income of £1300PCM.
The unit is double fronted with a shop front facing Parliament Road, well fitted out in excellent condition with kitchen and wc facilities alongside a side door providing access onto Aire Street .
The unit benefits from its own separate gas and electricity supply.
The size of the ground floor unit is 234 square meters with an EPC rating of B.
Certificate number
0210-1959-0366-3800-2054
Valid Until
2nd October 2026
To the ground floor there is also a separately accessed garage from Aire Street which benefits from an electric roller shutter alongside WC facilities, benefits from lighting and sockets with its own consumer unit, the electric meter is sub-metered.
The size of the garage is approximately 41 square meters.
The garage is in a ready to let condition in our professional opinion can achieve a rental of anywhere between £4,200-£4,800 per annum.
To the upper floor there is a 5 bed all en-suite flat situated over and finished to a high specification with an active HMO license so no article 4 to worry about, this is accessed from Aire Street.
The flat has its own separate gas and electricity supply and is fully double glazed and is heated via a gas central heating system.
Accommodation Comprises of entrance hallway with staircase leading onto the first floor which provides access into the kitchen which comes installed with a gas hob, oven & extractor fan, freestanding fridge freezer, washing machine, leading through into a lounge/diner, there are three bedrooms on the first floor, all of which come with en-suites, to the second floor there are a further two bedrooms with en-suites, there is also an office which can be utilised for storage if required.
All of the bedrooms come furnished with a bed, mattress, headboard, wardrobe, bedside table, desk with stool, en-suites comprise of a two piece white suite with separate shower cubicle.
The approximate size of the accommodation is as follows
Kitchen - 3.6 x 2.5
Lounge Diner - 3.5 x 4.0
Bedroom One - 3.3 x 2.2
Room Two - 3.0 x 3.4
Room Three - 4.3 x 3.7
Room Four - 3.9 x 3.6
Room Five 6.3 x 3.7
The flat is in a ready to let condition in our professional opinion can achieve a rental of anywhere between £27,000-£28,500 per annum, please note this is to include gas, electricity, water rates and wi-fi.
EPC details for the flat are as follows
Energy Rating - D
Valid Until 18th December 2023
Certificate Number - 1115-5035-7102-0792-1292
With the ground floor commercial unit being occupied and our projected rental income this gives scope to provide a gross yield in excess of 14%+
Tenure: Freehold
Electricity supply: Mains
Heating: Gas Mains
Water supply: Mains
Sewerage: Mains
