• Ground & Basement Hair Salon.
• Rental income £11,400 per annum.
• Rent review due September 2025.
• 2 / 3 bed house with vacant possession.
• ERV of house circa £1,000 per month.
• FREEHOLD PRICE £425,000.
- Asking Price:
- £425,000
- Turnover:
- £11,400
- Net Profit:
- £11,400
Property Information
- Property:
-
Freehold
- Living Accommodation:
-
6 Newlands Road;
The flat is occupied on an AST expiring in June 2024 with current rental income of £950 per month
- Location:
-
The property is located in High West Jesmond which is one of the most sought-after residential areas of Newcastle. This suburb is home to a broad range of residents that include students, young professionals and families.
Access is straightforward via the Great North Road and there is also an efficient Metro system which links the town to Newcastle City centre and which also runs out to the airport.
- Premises Details:
-
8 Newlands Road
Ground Floor
Hair Salon circa 35 sq.m. (375 sq.ft.)
Lower Ground Floor
Salons and Staff Area circa 33 sq.m. (360 sq.ft.)
W.C.6 Newlands Road
Ground Floor
Kitchen Diner 5.3m x 3.9m
First Floor
Lounge / Bedroom 4 3.5m x 4.6m
Bedroom 1 2.7m x 3.5m
Bedroom 2 3.9m x 4.2m
Bedroom 3 2.6m x 3.2m
Family BathroomExternal
Enclosed Yard Area
The shop is occupied on a 10 year lease from September 2019 at a rent of £11,400 per annum. There are rent reviews every 3rd anniversary
