Mixed Use for sale

Market Place, Hexham,

Offers in Region of £495,000

Property Description

Key features

  • Retail Premises & Maisonette
  • Prime Central Location
  • Currently Tenanted
  • 7.4% Return on Investment

Full description

A substantial stone built retail premises with a three bedroom maisonette over, occupying a prime central position within the Market Place in Hexham. Both premises are currently tenanted and draw an annual return of around 36,800. The building has been well maintained and viewings are highly recommended and available by appointment. (ROI of 7.4 gross).



Retail Unit (Ground Floor 863 sq ft. Basement 502 sq ft.)
The ground floor comprises a self contained retail unit currently let to Done Bros (cash betting) Ltd trading as Betfred.

Mainsonette
The first and second floor have been converted to a well appointed three bedroom maisonette currently let on an assured shorthold tenancy.

First Floor
Landing, Bedroom 1 (double), Bedroom 2 (double), Bedroom 3 (double), Shower Room, Cloakroom/WC.

Second Floor
Landing, Sitting Room, Lounge, Breakfasting Kitchen, Utility Room, Cloakroom/WC.

Services
Utilities: Mains water, electricity, and drainage are connected to the property.

The maisonette has the benefit of electric night storage heating.

Lease Terms
Ground Floor: Let to Done Bros (cash betting) Ltd on a 10 year lease from 2009. The passing rent is 29,000 p.a. exclusive. The tenant did not exercise their option to end the lease at the end of the fifth year of term.

Maisonette: Let on an assured shorthold tenancy at a current rent of 7,800 p.a. exclusive.

VAT
We are advised that the property is not elected for VAT. All prices, rents and other figures quoted in these particulars are net of VAT.

Rateable Value
Ground Floor: 21,000 (shop and premises).

Council Tax
Council Tax Band A.

Legal Costs
Each party to bear their own legal costs involved in their transaction.

Tenure
Freehold.

Disclaimer
These particulars are intended to give a fair description of the property but their accuracy cannot be guaranteed, and they do not constitute an offer of contract. Intending purchasers must rely on their own inspection of the property. None of the above appliances/services have been tested by ourselves. We recommend purchasers arrange for a qualified person to check all appliances/services before legal commitment.

Property Rental Service
Red Hot Property provides both a tenant placement and full management service for landlords. Full details are available on our website (redhotproperty.co.uk) or by telephone on 01434 601800.


More information from this agent

Nearest stations

  • Hexham (0.3 mi)
  • Corbridge (3.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Red Hot Property, Hexham

13 Battle Hill, Hexham, NE46 1BA

01434 410022 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

  • Hexham (0.3 mi)
  • Corbridge (3.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Red Hot Property, Hexham

13 Battle Hill, Hexham, NE46 1BA

01434 410022 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 0005149. 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 Red Hot Property, Hexham. 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.

* Average speeds are based on the download speeds of at least 50% of customers at peak time (8pm to 10pm) from packages available on comparethemarket.com. Speed can be affected by a range of technical and environmental factors. The speed you receive where you live may be lower than that listed above. You can check the estimated speed to your property prior to purchasing. Fibre/cable services at your postcode are subject to availability. You can confirm availability on the provider's website. Providers may increase charges. You should have the right to exit your contract without penalty if this happens. The information is provided and maintained by Decision Technologies Limited.

Map data OpenStreetMap contributors.