2 Romaine Square, County Durham, DH6

Mix Use Investment

Prominent mid terraced building arranged over 2 floors, comprising a ground floor retail unit currently occupied by a dehli. Currently extending their lease by a further 8 years at a passing rent of £1,200 per calender month and £14,400 per annum. Open market reviews every 2nd year.

First floor is 2x bedroom self-contained flat above, accessed from the front. Currently let out on a 12 month AST at £7,200 per annum.

Total income producing £21,600 per annum.

We understand that the shop currently has an ‘E’ Use Class, which includes retail, restaurant, leisure, medical and office uses.

Freehold interest to include the ground floor retail unit and top floor flat. The first floor flat is currently rented out on Assured Shorthold Tenancy Agreement.

The property is located on Romaine Square, Bowburn, County Durham (DH6 5AE), close to the junctions with Tweddle Terrace and Surtees Avenue. Nearby occupiers include Paxton’s Sandwich Bar, Takher Ltd, Durham Denture Clinic, and the local Post Office, forming part of a small neighbourhood retail parade. The surrounding area is predominantly residential, with good local bus connections and easy access to Durham city centre, approximately 3 miles to the north.

We are instructed to seek offers in region of £250,000 (Two Hundred and Fifty Thousand Pounds) subject to and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 8.42%.