Property for sale

7 Blandford Place

£130,000

Property Description

Key features

  • Investment For Sale
  • A1 Retail to Ground Floor 65 sq m (700 sq ft)
  • Two Bedroom Apartment to First Floor
  • Currently Producing an Income of 10,200 pax
  • Viewing Essential

Full description

SITUATIONSeaham 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.DESCRIPTIONThe 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 ACCOMMODATIONFrontage 5.44 mShop 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)TENANCIESThe ground floor retail space was let on the 1st 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 paxTERMSOffers are invited in the region of £130,000.RATING ASSESSMENTWe 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 COSTSEach party is to bear their own legal costs involved in the transaction.VATAll 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.VIEWINGFor general enquiries and viewing arrangements please contact sole agents Bradley Hall Chartered Surveyors.AGENTS NOTESYou may search our company website www.bradleyhall.co.uk for details of all our current instructions.In accordance with the Code of Leasing Business Premises: England and Wales the landlords are willing to consider alternative lease terms to those set out above but please bear in mind that variations may affect the level of rent proposed.A copy of the Code of Leasing Business Premises: England and Wales can be obtained at www.leasingbusinesspremises.co.uk or obtained from the Royal Institution of Chartered Surveyors, Telephone 0207 334 3806.

More information from this agent

Listing History

Added on Rightmove:
06 February 2015

Nearest stations

  • Seaham (0.2 mi)
  • Park Lane (4.8 mi)
  • University (5.1 mi)
Distances are straight line measurements from centre of postcode

Nearest schools

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To view this property or request more details, contact:

Bradley Hall Chartered Surveyors, Newcastle upon Tyne - Commercial

14-16 Grey Street Newcastle Upon Tyne NE1 6AE

0191 687 0029 Local call rate

How much will it cost me to call the number displayed on the site?

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Map & Street View

Nearest stations

  • Seaham (0.2 mi)
  • Park Lane (4.8 mi)
  • University (5.1 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Bradley Hall Chartered Surveyors, Newcastle upon Tyne - Commercial

14-16 Grey Street Newcastle Upon Tyne NE1 6AE

0191 687 0029 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 147. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Bradley Hall Chartered Surveyors, Newcastle upon Tyne - Commercial. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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