Retail Property (high street) for sale

138 Milburn Road, Ashington, NE63 0PQ

Guide Price* 52 sq. m. | £50,000

Property Description

Commercial information

  • 559 sq ft (52 sq m)

Key features

  • Shop and flat
  • Two storey mid-terrace
  • Shop to be let back
  • Rent 3,600 per annum
  • 2 bed flat vacant
  • Total potential rental income 8,400 Per Annum

Full description

Tenure: Freehold

FOR SALE BY AUCTION

The subject property is a two storey mid-terrace retail premises and first floor flat. The ground floor retail unit is occupied by the seller who wishes to remain as a tenant as part of this transaction. The terms will be a one year lease at 3,600 per annum for the retail unit and potential to let flat at 400 pcm. Total potential rental income would equate to 8,400 per annum. Interested parties should note that the seller may look to sell the going concern although this will not affect the creation of a tenancy agreement within the ground floor. The first floor flat is currently unoccupied. It has a separate entrance, kitchen and two bedrooms. Externally, there is a good sized yard where many properties in the street have extended.

LOCATION
The subject property is located within a very well established secondary retail area on Milburn Road in Ashington, Northumberland. Ashington is a well populated town providing a wide variety of services and facilities to the local area and surrounding communities.

ACCOMMODATION
GROUND FLOOR
Main sales: 33.8m2
Rear store: 13.6m2
Kitchen: 4.8m2
NIA: 52m2

ACCOMMODATION
Ground floor entrance
First floor landing
Lounge: 4.4m x 2.9m
Kitchen: 3.4m x 2m
Bedroom: 4.5m x 3.3m
Bedroom: 2.3m x 2.8m
Bathroom: 2.3m x 2.6m
The first floor also has double glazing and central heating to radiators via a combination boiler.

EXTERNAL
Open yard to the rear which will be split with part allocated to the ground floor lease.

TENURE
Freehold. Title number ND58173.

LEASE TERMS
The seller proposes to remain as a tenant of the ground floor retail premises and continue his longstanding fruit and veg business until a buyer for the business is found. This is separate from the sale of the property. The term will be for one year at a rent of 300PCM. A copy of the tenancy agreement to be signed will be made available in the legal documentation.

RATEABLE VALUE
The adopted rateable value is 4,000 as effective from 01 APRIL 2010.

EPC
Available upon request.

VAT
Unless otherwise stated, all stated figures are expressed exclusive of VAT. We await confirmation that VAT is payable on this transaction.

AUCTION INFORMATION
The subject property is offered on unconditional sale terms. This means that the successful bidder will be required to exchange contracts on the day together with the submission of a 10% deposit subject to a minimum of 3,600. Completion will thereafter take place no more than 28 days later. Interested parties should ensure they have satisfied themselves of all queries prior to auction as all acceptable bids are legally binding. As well as the 10% deposit any successful bidder would have to pay (650 plus VAT) admin charge on any auction purchase. Bidders should be aware that additional costs may be due within the special conditions of sale, if provided by the sellers solicitor. You should check this before bidding.

Nearest stations

  • Pegswood (3.3 mi)
  • Morpeth (4.9 mi)
  • Widdrington (5.0 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Pattinson Estate Agents, Commercial

21/23 Ridley Place, Newcastle Upon Tyne, NE1 8JN

0191 687 0258 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.

Map & Street View

Nearest stations

  • Pegswood (3.3 mi)
  • Morpeth (4.9 mi)
  • Widdrington (5.0 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Pattinson Estate Agents, Commercial

21/23 Ridley Place, Newcastle Upon Tyne, NE1 8JN

0191 687 0258 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 4327. 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 Pattinson Estate Agents, 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.

*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.

Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”

Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Pattinson Estate Agents, Commercial on 0191 2324392.


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