Guide price
£40,000
(£142.86/sq. ft)
Retail premises for saleHeaton Terrace, North Shields NE29
280 sq. ft
Just added
About this property
Summary
*For sale via secure sale online bidding: Terms and conditions apply.*
An excellent opportunity to acquire a ground floor commercial investment property with an established tenant already in occupation, providing an immediate rental income from day one.
The property is currently let at 110 per week, generating an annual rental income of approximately 5,720. Based on a guide price of around 50,000, this equates to an attractive gross rental yield of approximately 11.4%, making it an appealing investment opportunity.
The premises comprise a well-presented ground floor commercial unit suitable for a variety of business uses (subject to any necessary consents), benefiting from a convenient location and good accessibility.
Whether you're looking to expand an existing commercial portfolio or make your first commercial investment, this property offers a strong income-producing asset with an established tenant already in place.
Key Features:
- Ground floor commercial premises
- Tenant in situ
- Rental income of 110 per week (5,720 per annum)
- Approximate 11.4% gross yield based on a 50,000 purchase price
- Immediate return on investment
- Established tenant
I- deal addition to an investment portfolio
Early viewing is highly recommended to appreciate the investment potential on offer.
Location
The subject property is well located along Heaton Terrace, Chirton. This property is located within easy reach of local amenities, transport links, and schools. The subject property is located approximately 2 miles to Royal Quays Outlet, approximately 1.1 miles to North Shields town centre and approximately 7.6 miles to Newcastle City centre.
Rateable Value
The current rateable value is 4,300 (April 1st to present). Sourced from voa.
Tenure
Freehold.
EPC
Available upon request (rating C).
Additional Information
For further information please contact our office direct on , or alternatively via e-mail on . With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.
Auctioneers Additional Comments
Pattinson Auction are referred to as The Auctioneer. This auction lot is being sold by either conditional (Modern) or unconditional (Traditional) auction terms and overseen by The Auctioneer. The method of auction sale and the applicable terms and conditions are found on the lot page of this property on The Auctioneers website. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details to be shared between any marketing agent and The Auctioneer so that matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid, all bidders must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Auctioneers Additional Comments
The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and The Auctioneer and will typically be within a range above or below 10% of the Guide Price or Starting Bid. These prices are subject to change. An auction can be closed at any time, with The Auctioneer permitting the property (the lot) to be sold prior to the end of the auction. A Legal Pack associated with this property is available to view upon request and contains details relevant to the legal documentation, enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers obligations and sellers commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum fee which could be up to 7,200 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and The Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.
*For sale via secure sale online bidding: Terms and conditions apply.*
An excellent opportunity to acquire a ground floor commercial investment property with an established tenant already in occupation, providing an immediate rental income from day one.
The property is currently let at 110 per week, generating an annual rental income of approximately 5,720. Based on a guide price of around 50,000, this equates to an attractive gross rental yield of approximately 11.4%, making it an appealing investment opportunity.
The premises comprise a well-presented ground floor commercial unit suitable for a variety of business uses (subject to any necessary consents), benefiting from a convenient location and good accessibility.
Whether you're looking to expand an existing commercial portfolio or make your first commercial investment, this property offers a strong income-producing asset with an established tenant already in place.
Key Features:
- Ground floor commercial premises
- Tenant in situ
- Rental income of 110 per week (5,720 per annum)
- Approximate 11.4% gross yield based on a 50,000 purchase price
- Immediate return on investment
- Established tenant
I- deal addition to an investment portfolio
Early viewing is highly recommended to appreciate the investment potential on offer.
Location
The subject property is well located along Heaton Terrace, Chirton. This property is located within easy reach of local amenities, transport links, and schools. The subject property is located approximately 2 miles to Royal Quays Outlet, approximately 1.1 miles to North Shields town centre and approximately 7.6 miles to Newcastle City centre.
Rateable Value
The current rateable value is 4,300 (April 1st to present). Sourced from voa.
Tenure
Freehold.
EPC
Available upon request (rating C).
Additional Information
For further information please contact our office direct on , or alternatively via e-mail on . With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.
Auctioneers Additional Comments
Pattinson Auction are referred to as The Auctioneer. This auction lot is being sold by either conditional (Modern) or unconditional (Traditional) auction terms and overseen by The Auctioneer. The method of auction sale and the applicable terms and conditions are found on the lot page of this property on The Auctioneers website. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details to be shared between any marketing agent and The Auctioneer so that matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid, all bidders must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Auctioneers Additional Comments
The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and The Auctioneer and will typically be within a range above or below 10% of the Guide Price or Starting Bid. These prices are subject to change. An auction can be closed at any time, with The Auctioneer permitting the property (the lot) to be sold prior to the end of the auction. A Legal Pack associated with this property is available to view upon request and contains details relevant to the legal documentation, enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers obligations and sellers commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum fee which could be up to 7,200 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and The Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.
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