Background
This is a mixed investment property comprising a modern ground floor restaurant with a separate 6 bed HMO above. The property is located at the southern end of Heaton Road, at its junction with Tynemouth Road, and the immediate area is a mixture of residential, commercial and healthcare accommodation.
This part of Newcastle is a thriving and extremely popular with a broad cross section of renters, but particularly students and young professionals as there are excellent public transport links and a good social infrastructure.
Description
A four storey semidetached property of traditional brick construction with a pitched roof over.
33 Heaton Road
A ground floor restaurant occupied by HQ Heaton Limited on an IRI lease for a term of 5 years from 2021 at a current rent of £9,600 per annum.
35 Heaton Road
A 6 room HMO laid out over 2 floors. Currently let as two separate 3 bedroom lets with 12 month tenancies dated from 10th October 2024. Total income is £26,520 per annum.
Accommodation;
First Floor
Communal Kitchen
Shower & W.C.
W.C.
Bedroom 1
Bedroom 2
Bedroom 3
Bedroom 4
Second Floor
Communal Kitchen
Shower & W.C.
Bedroom 5
Bedroom 6
Business Rates
Rateable Value £7,000
Council Tax
Band A
EPC
Restaurant Rating C.
HMO Rating D.
Legal Costs
Each party to be responsible for their own legal costs in the transaction.
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.
