9A Battle Hill, Hexham, Northumberland, NE46

Investment Consideration:
Gross Initial Yield: 8.44%
Rental Income: £13,500 p.a.
VAT is NOT applicable to this property
Comprises ground floor restaurant with ancillary accommodation at first floor
Rent review is outstanding from 8th April 2021
Tenant break option in 2021 NOT exercised
Located on Battle Hill, which forms part of the main vehicular route through Hexham town centre, with occupiers nearby including Post Office, HSBC, Greggs and more.

Property Description:
Comprises ground floor restaurant with ancillary accommodation at first floor, providing the following accommodation and dimensions:
Ground Floor: 40 sq m (430 sq ft)
Open plan restaurant, storage, wc
First Floor: 115 sq m (1,238 sq ft)
Kitchen. storage, office, ancillary
Total GIA: 155 sq m (1,668 sq ft)

Tenure:
Long leasehold. To be held on a 999 Year lease from completion at a ground rent of peppercorn.

Tenancy:
The property is at present let to an Individual t/a Greek Restaurant for a term of 10 years from 8th April 2016 at a current rent of £13,500 per annum and the lease contains full repairing and insuring covenants. Rent review is outstanding from 8th April 2021. Tenant break option in 2021 NOT exercised. Lease within the Landlord and Tenant Act 1954.

Location:
Hexham is a thriving market town, lying adjacent to the A69 Trans-Pennine route, which provides access to the A1 trunk road some 20 miles to the east. Carlisle lies around 38 miles to the west and Newcastle upon Tyne City centre around 23 miles to the east. The property is located on Battle Hill, which forms part of the main vehicular route through Hexham town centre. Fore Street is located approximately 50 yards to the east. The property adjoins the Globe Inn, and is directly opposite the town’s Post Office.