Description
The property comprises a two-storey mixed-use investment property arranged to provide a ground floor commercial unit together with a self-contained first floor flat known as 2B Lillie Terrace.
The ground floor is occupied and trading as an established hair and beauty salon, providing predominantly open-plan accommodation together with a separate washroom, treatment room, kitchen and WC facilities. The premises are presented to a good standard and have been occupied by the current business for a number of years.
The first floor comprises a well-presented two-bedroom flat accessed independently from the rear, incorporating a modern fitted kitchen, spacious living room, contemporary bathroom and two bedrooms. Recent improvements include replacement UPVC double glazed windows, a modern gas combi boiler and upgraded bathroom facilities.
The property offers an opportunity to acquire a fully income-producing mixed-use investment with established commercial and residential income streams, generating a combined rental income of £11,380 per annum.
Location
The property occupies a prominent position on Lillie Terrace within the village of Trimdon Grange, County Durham. Trimdon Grange is a well-established residential location situated approximately 8 miles west of Hartlepool, 10 miles east of Durham City and within convenient reach of the A19, providing excellent access throughout the North East.
The surrounding area is predominantly residential in nature, supported by a range of local shops, services and community facilities. The property benefits from roadside frontage and on-street parking immediately adjacent.
Tenancy & Income
Ground Floor Commercial Unit
The ground floor salon is occupied under a five-year lease agreement commencing on 17 July 2023 and produces a current rental income of £5,980 per annum.
Whilst the lease is relatively straightforward in format, the tenant is responsible for internal repairs and maintenance together with utility costs associated with the premises. The current passing rent is considered reversionary in nature, offering potential for future rental growth, subject to lease terms and market conditions.
First Floor Flat (2B Lillie Terrace)
The first floor flat is let from 26 June 2026 at a rental of £450 per calendar month (£5,400 per annum).
Business Rates and Council Tax
According to the Valuation Office Agency website, the ground floor commercial premises have a rateable value of £4,100.
The residential accommodation is understood to be assessed within Council Tax Band A we understand it equates to approximately £1,750 per annum for the 2026/27 financial year.
Interested parties should verify this information directly with Durham County Council.
Proposal
Our client is seeking offers in the region of £115,000 (One Hundred and Fifteen Thousand Pounds) for the freehold interest, reflecting a gross yield of approximately 10% based upon the current contracted rental income of £11,380 per annum.
VAT
All rents and purchase prices quoted are exclusive of VAT. All offers are to be made on this basis and where silent, offers will be deemed net of VAT.
Legal Costs
Each party to be responsible for their own costs incurred in the transaction.
Anti-Money Laundering Regulations
In accordance with anti-money laundering regulations, two forms of identification and confirmation of the source of funding will be required from the purchaser / tenant.
About Us
Established in April 2017, Graham S Hall Chartered Surveyors are a highly regarded independent firm of Chartered Surveyors and commercial property agents based in Durham.
We are passionate about property and getting the best results for our clients. We pride ourselves on hard work and giving good honest advice, irrespective of the fee and even when it might not be what the client wants to hear.
While our focus is primarily on sales, lettings and acquisition of retail, office, industrial and investment, we also offer extensive experience in asset management, development and lease advisory, such as lease renewal and rent review.
Our main core areas of work include:
Leasing and letting
Sale and purchase
Investment sale and purchase
Lease renewal and rent review
Asset management
Development
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