This investment is located on Ashfield Road which is a pleasant residential street just off Ashburton Road 1.5 miles to the west of Gosforth town centre.
Ashburton Road has a number of independent shops including a pharmacy, butcher’s and convenience store and this is a popular residential area with a broad range of private flats and houses. There are high levels of captive trade to support the current business and a hot food takeaway has traded from this site for over 30 years.
This investment opportunity comprises a two-storey terraced property with a ground floor Chinese Takeaway and a separate flat above.
Gross Internal Areas as follows:
Service Area circa 240 sq.ft. (22 sq.m).
Kitchen circa 350 sq.ft. (33 sq.m).
Stores circa 75 sq.ft. ( 7 sq.m).
First Floor Flat with separate access
Bedroom 3 / Office
The property is occupied by way of a 15 year FRI lease dated from 1st August 2011 at a current rent of £12,000 per annum. There is an outstanding rent review from 2020 and no break clauses. Interested parties should seek legal confirmation of this.
Rating – D
Water, gas, electric and sewerage are installed and the property is in good order throughout.
The premises are assessed as follows:
RATEABLE VALUE £2,900
Rates free incentives are available subject to status.
Council Tax Band A for the flat above.
Strictly by appointment with this office.
We are verbally informed that the premises are Freehold. Interested parties should seek legal confirmation of this.
Money Laundering Regulations
In accordance with the current Anti-Money Laundering Regulations the Purchaser or Tenant will be required to provide two forms of identification and proof of the source of income.