3 Gibson House, Battle Hill, Hexham, Northumberland, NE46

Investment Consideration:
Gross Initial Yield: 10.21%
Rental Income: £12,000 p.a.
VAT is NOT applicable to this property
Comprises double fronted ground floor shop t/a Massage & Beauty
Let until 2034. No breaks. Rent review in September 2029
Nearby occupiers include Post Office and Oxfam, amongst other local retailers.

Property Description:
Comprises double fronted ground floor shop t/a Massage & Beauty, providing the following accommodation and dimensions:
Ground Floor: 161 sq m (1,733 sq ft)
Open plan retail, Storage, Office, WC

Tenancy:
The property is at present let to an Individual for a term of 10 years from 1st September 2024 at a current rent of £12,000 per annum and the lease contains full repairing and insuring covenants. Rent review in September 2029 open market upward only. No breaks. Deposit held of £3,000. Lease within Landlord & Tenant Act 1954.

Tenure:
Long Leasehold. Held on a 999 year lease from 25th March 1991 at a ground rent of peppercorn.

Location:
Hexham is a market town and civil parish in Northumberland, England, on the south bank of the River Tyne. The town is served by the A69 road, which runs for 54 miles (87 km) from Carlisle to Newcastle upon Tyne. The town also lies on the main railway line between Newcastle upon Tyne and Carlisle and is an important retail, commercial and tourist centre. The property is located on Battle Hill, which is one of the main routes through the town, close to its junction with Beaumont Street. There is free on street parking on Beaumont Street. Nearby occupiers include Post Office and Oxfam, amongst other local retailers.