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Commercial Property for sale

Hartlepool Marina, Middleton Road, Hartlepool

Withdrawn from Market £270,000

Property Description

Key features

  • Investment producing 26,000pa
  • Let until 2029 without break clause
  • Investment Yield 9.6%

Full description

Virtual Freehold. Held for a term of over 990 years from completion at an initial ground rent

Hartlepool with a population of some 87,000. is located 8 miles north of Middlesbrough. The property is situated within the modern development known as Navigation Point with the Hartlepool Marina. The occupies include by include cafes, restaurants and bars with a number of apartments within the Marina

VAT is applicable to this lot

Energy Performance Certificate
EPC Rating 77 Band D

The property is arranged as a ground floor, trading as a restaurant.The property provides the following accommodation dimensions:

Gross Frontage 12.25m
Net Frontage 11.00m
Shop Depth 12.95m
Built Depth 19.95m
Ground Floor 155.55 sqm

The property is let to M Azad (t/a Tai Village) for a term of 15 years from 1st November 2014 at a current rent of £26,000 (1). The lease provides for rent reviews every fifth year of the term and is full repairing and insuring covenants. (1) The current rent payable is £23,000 however the is a rental increase to £26,000 on the 1st November 2017. The Seller will top up the difference from completion.

More information from this agent

Map & Street View

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