The property comprises an attractive end-terrace, two-storey building of traditional brick construction, beneath a pitched slate covered roof. The front elevation has a painted timber shop front to the eastern side of the building at ground floor level, with two plate glass display windows and a customer entrance. The property has three further entrances to the front and one entrance at the rear which leads to a private tarmac surfaced parking area.

The building currently provides functional retail/office accommodation with associated kitchen facilities, WC and stores. Internally, the property is finished to a reasonable standard to the following specification:

• Plastered and papered walls and ceilings with strip fluorescent lighting
• Category II lighting to the ground floor retail unit
• Gas fired central heating system
• Kitchen facilities
• Intercom entry system to the first floor
• Separate WC’s at ground floor and to first floor offices
• Steel shutters to frontage
• 8 off-street parking spaces
• Modern sash effect uPVC double glazed windows throughout

Use

The property is currently used as a retail unit to part of the ground floor with offices to the remainder but would suit a variety of other uses subject to planning. There are four entrances in to the building off Albion Road, indicating that the property may have originally comprised four Tyneside flats and there is obvious potential to convert the accommodation back to residential use. There is also developable land at the rear of the property, which would enable the property to be significantly extended whilst also retaining the majority of parking spaces currently available (subject to planning).

• Toilet Facilities
• Intercom Entry System
• Kitchen
• 2-Storey
• Parking
• Central Heating
• Display Windows
• Steel Shutters

Tenure

The property is currently part let to DL Mole (t/a Hunters Estate Agents) on a five year effective FRI tenancy agreement at an annual rental of £6,500pa.  The three remaining parts of the building are vacant.  Based on a conservative estimate of achievable rents for three two bedroom flats, we estimate that the property would have an ERV (upon conversion) of £24,000pa+.

Price

We are instructed to seek offers at the reduced price of £160,000 for the freehold interest.

Rates

We are informed that the property’s Rateable Value is:

Ground and First Floor Offices
Rateable Value (2010 List) - £11,250
Rates Payable 2016/17 - £5,445

First Floor Office
Rateable Value (2010 List) - £3,000
Rates Payable 2016/17 - £0*

*100% relief is available to qualifying small businesses until April 2017.

Legal Costs

Each party is to be responsible for their own legal costs incurred in the transaction.

VAT

All prices quoted are excluding, but may be liable to VAT.

Accommodation (approx sq ft)

The premises have been measured in accordance with the RICS Code of Measuring practice (6th Edition) and the approximate Gross Internal Area is as follows:

Ground Floor - 1,141 sq ft
First Floor - 1,067 sq ft

Total - 2,208 sq ft

There is a tarmac surfaced parking area to the rear of the property with parking for up to 8 vehicles.

Energy Performance

An Energy Performance Certificate (EPC) has been prepared and the Energy Performance Asset Rating is: D/77

Download EPC Certificate

Important Notice

Dunlop Heywood gives notice to anyone who may read these particulars as follows:

1.These particulars are prepared for the guidance only of prospective purchasers. They are intended to give a fair overall description of the property but are not intended to constitute part of an offer or contract. 2. Any information contained herein (whether in the text, plans or photographs) is given in good faith but should not be relied upon as being a statement or representation of fact. 3. Nothing in these particulars shall be deemed to be a statement that the property is in good condition or otherwise nor that any services or facilities are in good working order. 4. The photographs appearing in this brochure show only certain parts and aspects of the property at the time when the photographs were taken. Certain aspects may have changed since the photographs were taken and it should not be assumed that the property remains precisely as displayed in the photographs. Furthermore no assumptions should be made in respect of parts of the property which are not shown in the photographs. 5. Any areas, measurements or distances referred to herein are approximate only. 6. Where there is reference in these particulars to the fact that alterations have been carried out or that a particular use is made of any part of the property this is not intended to be a statement that any necessary planning, building regulations or other consents have been obtained and these matters must be verified by any intending purchaser. 7. Descriptions of a property are inevitably subjective and the descriptions contained herein are used in good faith as an opinion and not by way of statement of fact.