Location
This investment property is located towards the northern end of Mortimer Road, close to the junction with Oxford Avenue. This part of South Shields is predominantly residential and there are a number of nearby schools.
The town centre lies around one mile to the north and access via car or public transport is straightforward with bus stops directly outside the property.
Description
The property comprises a self-contained, single storey retail unit which forms part of a larger three storey building. The retail unit occupies the ground floor only with the residential accommodation occupying the other part of the ground floor and all the upper floors. Access is from the street and both units are wholly independent.
Property
75a Mortimer Road Commercial
Ground Floor
Café / Coffee Shop circa 89 sq.m. (960 sq.ft.)
W.C.
75 Mortimer Road Residential
Ground Floor
Spacious Lobby
Bedroom 1 4.5m x 5.5m (double)
First Floor
Lounge 5.2m x 4.6m
Bedroom 2 5.3m x 4.4m (can sleep 3)
Kitchen
Bathroom
Second Floor
Bedroom 3 4.3m x 3.0m (double)
Bedroom 4 4.6m x 3.0m (can sleep 3)
EPC
75a Mortimer Road Shop - Rating D
75 Mortimer Road House - Rating E.
Viewing
Strictly by appointment only via this office
Rates
Business Rateable Value £4,550 (April 2023).
House is Council Tax Band B.
Occupational Leases
75a Mortimer Road;
The shop is occupied on a 5 year FRI lease from April 2023 at a rent of £7,080 per annum. There is a rent review at the 3rd anniversary.
75 Mortimer Road;
The residential accommodation is currently let as serviced accommodation generating £950 pcm through a management company. At the point of sale, it will be offered with vacant possession offering buyers the flexibility to use it as a private residence or investment opportunity.
Money Laundering Regulations
In accordance with the current Anti-Money Laundering Regulations, the Purchaser will be required to provide two forms of identification and proof of the income source.
Services
Water, gas and electricity is installed to the shop. There is gas central heating in the flat.