Front Street, Fencehouses, Houghton Le Spring

Investment for Sale

6,196 ft²

Asking Price £435,000

Key Features

Features
Mixed Use Investment
Total passing rent of £45,942.24 per annum
Prominent Front Street location
Long Term Residential Tenants
Gross Yield 10.12%
Transport
Bus stops located on Front Street
3.9 miles from Chester Le Street train station
1 miles from A19
3 miles from A1(M) & A167

Property Description

LOCATION

The subject property is located on Front Street in Fencehouses. Front Street is the main linear retailing street running through the centre of the village and the properties are situated on the east side just past the junction between Front Street and the A1052.

Fencehouses is a small village within the Parish of Houghton le Spring on the edge of the City of Sunderland. Accessible within a short commute to the A1M, A690 and A19 trunk roads provide access to Durham City and Sunderland.

 

DESCRIPTION

The subject property is of brick construction beneath pitched slate roof and comprises 4 retail units and 4 apartments on the upper floors. 1 Front Street occupies a corner position of the junction of Front Street and North View Terrace whilst the remainder of the block fronts onto Front Street.

The retail units comprise front sales area with storage to the rear and glazed frontages. There is car parking immediately available to the front and rear of the parade. Each commercial tenant has invested heavily in terms of fit out and built up well established local businesses with solid reputations.

The residential premises provide 1 bedroom apartments with bathroom, kitchen and living area accessed from the rear external staircase.


ACCOMMODATION

The property has been measured in accordance with the RICS Code of Measuring Practice 6th Edition. The measurements referred to above are the approximate gross internal areas.

Unit

Ft²
1
158.5
1,725
1a
102.9
1,120
3
45.5
495
3a
44
473
5
58.4
635
5a
48
516
7
62.7
683
7a
51
549
Total
575.63
6,196


EPC        

Unit
EPC Rating
1
D98
1a
E46
3
D87
3a
D60
5
TBC
5a
E50
7
C54
7a
E48
Total
575.63


TENANCY INFORMATION

 

Property (Tenant)
Lease Start
Term
Rent (PAX)
1&1A (Café)
01/08/18
5 Years
£13,200
3 (Dog Cafe)
03/05/17
3 Years
£5,500
3a (Residential AST)
01/04/18
1 Year
£4,420.08
5 (Pet Shop)
10/03/19
3 Years
£6,000
5a (Residential AST)
18/03/15
Periodic
£4,420.08
7 (Hairdresser)
01/07/18
5 Years
£8,000
7a (Residential AST)
01/06/18
1 Year
£4,402.08
Total
 
 
£45,942.24


TERMS

The total passing rent of all the units is £45,942.24. At a purchase price of £435,000 this reflects a gross yield of 10.12%.


VAT

All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT.




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