Retail premises for sale in Laburnum Terrace, Ashington NE63
* Calls to this number will be recorded for quality, compliance and training purposes.
Property description
Location
The subject property is located on Laburnum Terrace in Ashington. Laburnum Terrace is situated in a mixed use location, approximately 0.5 miles from Ashington town centre and is surrounded by housing estates as well as local and national retailers and amenities including Co-op Food, Sweet ‘n’ Savoury, Betty Bakes and Cakes, Seaton Park Medical Group and Ocean Treasure.
The property is accessible by public transport with bus routes servicing Milburn Road, providing direct access to Morpeth, Bedlington, Blyth and Newcastle upon Tyne city centre. The property is also accessible by road with the A196 just 0.4 miles away and the A189 is 1.5 miles away.
Description
The subject property comprises a mixed use, mid-terrace building which is arranged over ground and first floor. The ground floor provides retail accommodation with kitchen and WC facilities. The upper floor comprise a two bedroom flat with living area/kitchen and bathroom. The property is supplied with gas central heating.
Accommodation
We calculate the approximate net/gross internal floor areas to be as follows:
Commercial Unit 66.38 m² 715 ft²
Flat 44.04 m² 474 ft²
Total 110.42 m² 1,189 ft²
EPC rating
Commercial Unit - D76
Flat - E54
Tenancy
The commercial unit tenant signed a new 10-year lease in December 2019 and achieves £12,000 per annum. There are 5 years and 6 months unexpired. The flat is currently let and achieves £6,000 per annum. Therefore, the total rental income is £18,000 per annum.
Rating assessment
The rateable value of the commercial premises as at 1 April 2023 is £7,800 and the estimated rates payable for the current year is £3,892.20. This is based on the standard Small Business Rate of 49.9p in the pound, however, interested parties should confirm the current position with the Local Authority.
Terms
The freehold of the property is available with offers in the region of £199,000 (One Hundred and Ninety-Nine Thousand Pounds).
Property info
* Sizes listed are approximate. Please contact the agent to confirm actual size.
For more information about this property, please contact
Bradley Hall, NE1 on +44 191 686 9796 * (local rate)
Disclaimer
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Bradley Hall, and do not constitute property particulars. Please contact Bradley Hall for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.