Clifton Road, Cramlington

FOR SALE
Part investment opportunity
Two storey property within an Established Parade.

Description - The property comprises a two storey mid-terraced retail premises thought to have been built in approximately 1970. It is offered for sale as a part investment property with the ground floor occupied and rented by a tanning business. The first floor is vacant.

Location - The property is set within Cramlington which is a new town located in south east Northumberland approximately 7 miles north of Newcastle upon Tyne. The location is provided with a reasonable level of local services and facilities serving the local population and surrounding communities. An established transport infrastructure connects Cramlington with other locations in Northumberland and the wider north east region using the A189 Spine Road and A19 motorway.

Situation - The property is situated on the north side of Clifton Road on the eastern edge of Cramlington New Town. It is contained within a parade of similar retail properties that serve the surrounding local authority and private housing. It is approximately 1.1miles east of Cramlington town centre. Other retailers in this parade include Chisholm Bookmakers, hair & beauty businesses and hot food takeaways.

Accomodation - Ground Floor. 49.6sqm (533.90sqft)
First Floor. 42.3sqm (459.55sqft)

Lease Information - The ground floor retail accommodation is currently let to a tanning business at a rent of £7,200pa. The effective lease is for 3 years from October 2023.

The first floor accommodation is vacant.

Tenure - The property is subject to a long leasehold with 143 years remaining.

Ground Rent & Service Charge - Charged in half year periods at £1888.92.

Ground Rent Half Year period ending 30/06/2025 is £1419.55

Service Charge Half Year period ending 30/12/2025 is £469.37

Energy Performance Certificate - The EPC rating for the property is * (*). A full copy of the report is available upon request.

Money Laundering Regulations - In accordance with the Anti-Money Laundering Regulations the Purchaser will be required to provide two forms of identification and proof of the source of income.

Legal Costs - Each party will be responsible for their costs in the transaction/or pay landlord costs.

Vat - The property is not subject to VAT.