Investment/Development Opportunity In Hartlepool For Sale

Property Information

Property:

Freehold

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 three interconnecting properties with restaurant and hot food takeaway businesses to the ground floor. There is living accommodation with letting bedrooms to the first floor and a second floor in need of refurbishment plus the third storey which was a manager’s flat.

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 and extended to a high standard approximately 2 years ago and has fully fitted catering kitchens and 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.

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.
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 whole building is occupied by Sheara’s Fast Food Limited via a 10 year FRI lease from January 2024 at a passing rent of £35,000 per annum. The lease is within the Act with rent reviews every 3rd anniversary. The tenant would be willing to enter discussions with a new owner for a lease of the ground floor only, permitting the landlord to develop the upper floors.

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.)

Energy Performance Rating:

C