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Investment Development In Hartlepool For Sale

Hartlepool, Teesside
Asking Price:
£325,000
Turnover:
Not applicable
Net Profit:
Not applicable

• Current rental income £31,200 per annum from ground floor.
• Potential to develop residential space on the upper floors.
• Extensive premises totalling 9,000 sq.ft. (836 sq.m).
• Central location within town.
• Ground floor trading restaurant and takeaway.
• EPC Rating – F.
• F/HOLD PRICE £325,000 / OFFERS (Plus VAT)

Property information

Property:

Freehold

Living Accommodation:

The first floor has a 2 x one bedroom flat suitable for conversion into a number of bedsits. The second floor requires some part refurbishment with a one bed flat on the third floor previously used by a manager of the restaurant.

Location:

The property is situated in a secondary location on Church Street within an established commercial sector on the east side of Hartlepool Town Centre. The immediate area comprises a mixture of users including retail, office, residential and leisure occupiers.

The town is easily accessed via the A19 Trunk Road which is the main road route linking Tyneside and Teesside and also provides direct links to the A1(M). Hartlepool offers a direct rail service to London Kings Cross and the airports of Tees Valley and Newcastle are within a 45 minute drive and provide domestic and international flights.

Premises Details:

Comprising a three storey former Banking Hall now with restaurant and hot food takeaway businesses to the ground floor. To the first floor there is a 2 x one bedroom flat suitable for conversion into a number of bedsits. The second floor requires some part refurbishment with a one bed flat on the third floor previously used by a manager of the restaurant.


To the eastern end, 69 Church Street was converted to provide a takeaway unit with a front sales area, separated from the rear food preparation area and kitchen. The unit was refurbished to a high standard approximately 2 years ago and has fully fitted catering kitchens and hot food prep areas with steel wall cladding and units.

The main restaurant lies within 71 – 72 Church Street and provides a lobby, main bar and restaurant with servery, raised platform dining area plus ancillary rooms for staff, cleaning and refuse. There are also separate ladies and gents toilets on the ground floor.

Accommodation;

Ground Floor

69 Church Street GIA - 988 sq.ft. (91.77sq.m.)
71 – 72 Church Street GIA - 3353 sq.ft. (311.55 sq.m.)

First Floor GIA – 2300 sq.ft. (213.74 sq.m.)

Second Floor GIA – 1664 sq.ft. (154.60 sq.m.)

Cellars GIA – 1017 sq.ft. (94.5 sq.m.)

Occupational Lease

The ground floor is occupied by way of a 7 year FRI lease from 2017 at a passing rent of £31,200 per annum. The lease is within the Act with no break clause or rent review opportunities.

Size in square feet:
9,000
Energy Performance Rating:
F

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