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Investment Property

Stanley £85,000 Freehold REF: NE1335

Location

The property is located on the main road leading out of Stanley towards Sunniside, Lobley Hill and Gateshead.  Stanley is a former colliery town west of Gateshead and lies between Chester le Street and Consett with excellent road links via the A692 and A693.  The immediate area is predominantly residential but there are other retail units nearby and the main shopping centre is less than 5 minutes walk away.  There are plans to develop the site on the roundabout adjacent and overall Stanley is an expanding town.

Description

This opportunity comprises a self-contained ground floor unit which is part of a substantial three storey detached building of traditional red brick construction with a pitched slate roof over. 

Accommodation

The property has been measured in accordance with the Code of Measuring Practice and reported on a Gross Internal Area basis as follows:

Ground Floor

Office Area                  71 sq.m. (764 sq.ft.)

Kitchen

Staff Room

W.C.

Occupational Lease

The tenant is Morgan Grey who will sign a 5 year FRI lease at a passing rent of £8,000 per annum concurrently with the sale. 

There will be no rent review provisions in the lease term.

Services

Water, and electric are installed and the property is in excellent order. 

Business Rates

We are verbally informed that the premises are assessed as follows:

Description                              Rateable Value

Shop & Premises                    £4,900

Rates free incentives may be available subject to individual status.

Tenure

We are verbally informed that the premises are Freehold.  Interested parties should seek legal confirmation of this.

EPC

Rating - D

 

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