Property description

SITUATION

Seaham is a north east coastal town situated approximately nine miles to the east of Durham City and eight miles to the south of Sunderland City centre with the nearby A19 trunk road providing easy accessibility throughout.

The town, like many other north east towns, was built around the thriving coal business and in particular the harbour complex.  Many major improvements and inward investments have begun to regenerate the town including completed floorscape and street scene in the shopping areas and adjacent car parks as well as the Seaham promenade scheme with new paving, lighting and railing improving the landscape in general.

DESCRIPTION

The subject property comprises of a two storey mid terraced unit of brick construction under a pitched slate roof.  The property has a single storey off shoot to the rear with profiled metal sheet clad roof and two storey off shoot under a flat mineral felt roof.

The investment property to sell comprises a ground floor retail unit with timber shop front and electronically operated roller shutter doors.  Internally the property is fitted to a reasonable standard with fluorescent lighting and rear staff room/kitchen facilities.

The first floor benefits a two bedroom tenanted apartment, fitted to a reasonable specification with gas central heating and uPVC double glazing.

GROUND FLOOR ACCOMMODATION

Frontage                                                5.44 m

Shop Depth                                           9.3   m (max)

Front sales                                            46 m² (495 ft²)

Rear staff room/kitchen                        10 m² (108 ft²)

Office/store                                           9 m² (97 ft²)

Total                                                     65 m² (700 ft²)

TENANCIES

The ground floor retail space was let on the 1^st of September 2014 on a 3 year full repairing and insuring basis and currently produces a rental income of £6,000 per annum.

The first floor apartment is let on an Assured Shorthold Tenancy and generates an income of £350 per calendar month.

Gross Income:      £10,200 pax

TERMS

Offers are invited in the region of £130,000.

RATING ASSESSMENT

We are advised that the rateable value of the premises as at 1 April 2010 is £4,050. We would however, encourage any interested parties to confirm the current position with the Local Authority.

LEGAL COSTS

Each party is to bear their own legal costs involved in the transaction.

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.
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Property Features :

• Investment For Sale £130,000
• A1 Retail to Ground Floor 65m2 (700 f2)
• Two Bedroom Apartment to First Floor
• Currently Producing an Income of £10,200 pax
• Viewing Essential