Investment Consideration:
Gross Initial Yield: 10. 43%
Rental Income: £12, 000 p. a.
VAT is not applicable to this property
Comprises ground floor takeaway and 3 - bedroom flat at first and second floor
Let until July 2028. No breaks. Rent review in 2026 open market upward only.
Most of the takeaway fixtures and fittings belong to the vendor and will be
included in the sale
Situated within 5min walk from Hartlepool town centre and train station, with
occupiers nearby including barber`s, estate agents, clothing shop, restaurants
and more.
Property Description:
Comprises ground floor takeaway shop and a 3 - bedroom flat above, which can be
accessed internally or via separate door from the side of the building. Most
of the takeaway fixtures and fittings belong to the vendor and will be
included in the sale.
Ground Floor: 50 sq m (538 sq ft)
Retail Area, Kitchen, Storage
First Floor: 46 sq m (500 sq ft)
Kitchen/Living Room, Bedroom, Bathroom
Second Floor: 20 sq m (212 sq ft)
2 Bedrooms
Tenancy:
The entire property is at present let to Limited Company (with 2 guarantors)
for a term of years from 14th July 2023 until 31st July 2028 at a current rent
of £12, 000* per annum and the lease contains full repairing and insuring
covenants. No breaks. Rent review in July 2026 open market upward only.
Deposit held of £2, 275.
*Note - Tenant pays reduced rent of £10, 140 p. a. In Year 1, £11, 400 p. a. In Year 2 and £12, 000 p. a. In Year 3 until the remainder of the lease/rent review. The Vendor will top - up the rent so the buyer receives equivalent of £12, 000 p. a. From completion.
Location:
Hartlepool is located approximately 8 miles north of Middlesbrough and 17
miles south of Sunderland. The town benefits from excellent road
communications with the A689 dual carriageway providing direct links to both
the A19 and A1(M). The property is situated within 5min walk from the town
centre with occupiers nearby including barber`s, estate agents, clothing shop,
restaurants and more.

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