Property description

Jonathon Lewis are delighted to bring to the market the opportunity to acquire this two storey property located in a good position on lower princess Road, Seaham. The property is of mixed use with a commercial unit on the ground floor formerly a Taxi office, and a self contained two bedroom flat on the first floor, with a potentential combined rental income of approx £10,500 annually, yeilding around 10% gross.

DESCRIPTION
The premises are aranged over the gound and first floor and benefit from a UPVC shop front with electric roller shutters, having frontage to the main road. Access to the first floor flat is via a separate UPVC door.

GROUND FLOOR RETAIL
Internally, the property is quite spacious, with the ground floor retail space approximately 17‘ 11" x 15‘ 6" (279 ft2) and (571ft2) including back shop and ancillary areas.The retail space further benefits from wc facilities, kitchen and office to the rear. There are good levels of captive trade from the surrounding properties and passing trade generated from the main road.

FIRST FLOOR ACCOMMODATION
To the first floor, the two bedroom self contained flat briefly comprises of entrance to hallway, staircase to first floor landing, with doors leading off to the lounge and kitchen / diner, two bedrooms, and a Family sized bathroom.

TENURE
We have been advised by our clients that the property is currently held Freehold

ASKING PRICE
Offers are sought in the region on £99,950.(Ninety Nine Thousand Nine Hundred And Fifty Pounds).

RATEABLE VALUE
Following our enquies with the Local Authority, we have ascertained that the rateable value is (£2,375). We have also been notified that the rates payable for 2016 / 2017 are (£1,149). All Interested parties should contact the Local Rating Authority to determine the precise rates payable on the property as a right to appeal agianst the assessment shown above may exist.

INCOME
We have been advised by our clients that the retail premises once let, could generate an income of around £5,720 per annum with an additional income of £4,800 from the self contained flat, approximately £10,500 annually yielding around 10%.

LEGAL COSTS
Each party is to be responsible for their own legal costs incurred with the transaction.

ENERGY PERFORMANCE
Certificate available upon request. The Energy rating is: E

VAT
All figures quoted exclude VAT where chargeable.

DISCLAIMER
None of the equipment or systems within the premises have been tested by the Agent and it is the responsibility of the in going buyer to ensure that they are in working order. Any areas, measurements and distances given are approximate only. VIEWINGS: STRICTLY BY APPOINTMENT ONLY To arrange an appointment to view this property contact our Seaham branch on 0191 5816652, or Email: martin@jonathonlewis.co.uk Opening Hours Monday to Friday 9.00am - 5.30pm Saturday 9.00am - 2.00pm

IMPORTANT NOTE
The premises are offered subject to contract, availability and confirmation of details. The particulars do not form part of any contract and whilst believed to be correct, no responsibility can be accepted for any inaccuracies or errors. No other statements contained in the particulars are to be relied upon as a statement of fact and are a general outline only for the guidance of intending purchasers or tenants, and should be verified by you on inspection or by your solicitor as to the correctness of these statements. The photographs show only parts of the property as they appeared at the time taken. You should not rely on statements by Jonathon Lewis Ltd in the particulars or by word of mouth or in writing as being factually accurate about the property/business, its condition or its value. The vendor(s) or lessor(s) do not make or give Jonathon Lewis Ltd (nor their joint agents) nor any person in their employment any authority to make or give any representation or warranty whatsoever in relation to this property. Unless otherwise stated, all prices and rentals quoted are exclusive of Value Added Tax to which they may be subjectSTAND OUT FROM THE CROWD ! If you are thinking of moving home or currently have your property on the market with another Estate Agent and feel you are not receiving the results they promised, we would be delighted to hear from you. One of our expert valuers will carry out a free no obligation valuation of your property and give you specialist marketing advice. DON‘T JUST TAKE OUR WORD FOR IT... "Carol and I would like to thank you all for your very professional and efficient service during the house sale. Your recommendations were most realistic and clearly stated, jargon free and to the point. We both felt very comfortable dealing with you all and felt quite certain that you knew your business, area and clientele well. Each time we visited the Office we were sure of a warm and courteous welcome. We would have no hesitation in recommending you to family and friends. Thank you once again." Mr and Mrs A, Seaham

Property Features :

• Fantastic investment opportunity
• Arranged over both the ground and first floor
• Potential total rental Income of £10,700 annually, yielding around 10% gross
• Large 2 bedroom flat to the first floor with a current rental income at £4,800 per annum
• Former Taxi offices / retail premises with 2 bedroom flat to the first floor