York Road, Hartlepool, Durham, TS26 8AD
- SIZE AVAILABLE
5,780 sq ft
537 sq m
- SECTOR
Restaurant for sale
- USE CLASSUse class orders: A3 Restaurants and Cafes, A4 Drinking Establishments and A5 Hot Food Take away
A3, A4, A5
Key features
- Large Restaurant & Bar
- 3 Bedroom Apartment
- First Floor Function Rooms
- Rare Opportunity
- Generating a rental income of £31,270
- Town Centre Restaurant on York Road
Description
We are pleased to offer to auction this rare opportunity to purchase a large town centre restaurant on York Road in Hartlepool. Marco Polo’s is located close to Hartlepool’s busy main street, shopping centre, a business centre and council offices, which is ideal for high customer footfall.
This is a substantial commercial property with multiple revenue streams associated.
Marco Polo currently operates a 7 year full repair lease (renewed 1st July) generating a rental income of £31,270 PA. The tenant is responsible for paying the landlord insurance.
Please note we have not inspected this property.
Location
The subject property occupies a prominent position on York Road. Hartlepool is situated within the North East of England, south east of Newcastle and north of Leeds. The town lies adjacent to Junctions 10 and 11 of the M65 which provides rapid access to the M6 at Junction 29 and the M61 at Junction 9 and also enjoys good transport links to the A1(M) and A19 trunk roads.
Accommodation
The property consists of a vast restaurant & bar on the ground floor with a large commercial kitchen centrally located. Whilst upstairs you’ll discover two good sized function rooms, which are currently being utilised as base for a specialist children’s play group. A side door to the side of the building leads you up to a spacious 3 bedroom apartment which spans across 3 floors. The ground floor consists of a long reception hallway with a return staircase up to the first-floor accommodation. The first floor plays host to a kitchen, living room and a large double bedroom. A secondary staircase is location on the landing, which leads you up to the second-floor landing, directly servicing a family bathroom and two further large double bedrooms.
Tenure
3x freehold titles. Title numbers DU34357, CE81240 & CE41592.
Rateable Value
The current rateable value is £6,200 (1 April 2023 to present).
Sourced from VOA.
EPC
We are currently awaiting a copy of the energy performance certificate.
Additional Information
For further information please contact our office direct on , or alternatively via e-mail on . With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.
Auctioneers Additional Comments
Pattinson Auction are referred to below as The Auctioneer. This auction lot is being sold under either conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between any marketing agent and The Auctioneer so that all matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid on any property marketed by The Auctioneer, all bidders buyers must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere. Our verification process is in place to ensure AML procedures are carried out in accordance with the law
Auctioneers Additional Comments
The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and the auctioneer and will typically be within a range above or below 10% of the Guide Price , Starting Bid. These prices are subject to change. An auction can be closed at any time with the auctioneer permitting for the property (the lot) to be sold prior to the end of the auction. A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers obligations and sellers commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and the Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.
Brochures
York Road, Hartlepool, Durham, TS26 8AD
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Hartlepool Station0.5 miles
- Seaton Carew Station2.0 miles
Notes
Disclaimer - Property reference 470955. 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 Pattinsons, Pattinsons Auction- National Auctioneer. 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.
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 Pattinsons, Pattinsons Auction- National Auctioneer on 0191 625 0964.
*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.
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