• Two Storey Mixed Property
• Ground Floor A1 Off Licence
• Ground Floor NIA 95.3sqm (1,026sqft)
• First Floor Three Bedroom Accommodation
• Tenanted Investment
• Income of £18,200 PA
We are pleased to offer to auction this two storey mixed commercial and residential property, prominently located on the corner of Palace Road, Bedlington. The ground floor is an A1 off licence previously used as a Lifestyle Express, and the first floor is a three bedroom residential flat. The property is a great investment opportunity as it is fully tenanted for £18,200 per annum.
The subject site lies on the corners of Palace Road and St John's Road, next to Clayton Snooker Club. The site has plenty of local services and amenities surrounding it including many shops and takeaways. The site has good road links (just around the corner from Station Road which leads directly to the town centre, approximately 1.5 miles away) as well as great public transport links with several different bus stops within a short walking distance.
The full building is currently let to one tenant, for £100PW for the flat and £250PW for the shop, with 15 years remaining on the lease (with a break option for the tenant if under new ownership). The total annual income is £18,200.
Contracts will exchange immediately. There are 28 days in which to complete the purchase.
A reservation fee is payable by the buyer where a seller has opted to sell with no fees. As a result, a lower reserve price is usually agreed on lots where a reservation fee is applicable.
Disclaimer. Property descriptions, images and related information displayed on this page are based on marketing materials found on the website registered to Pattinson. Realla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Pattinson for full details and further information.