Prospect Terrace, New Kyo, Stanley
£110,000
Guide price
Guide price
Bedrooms: 1
Investment Opportunity with Long-Term Commercial Tenant. We are pleased to present a unique freehold investment opportunity, featuring a ground floor commercial unit and a self-contained one-bedroom flat above. The ground floor unit is secured by a long-term commercial tenant with a lease until June 2033, generating an annual rent of £8,450. The first-floor flat will be available with vacant possession, or there is the option of a prospective tenant willing to sign a lease at £450 PCM. Combined, these properties offer a potential rental income of £13,850 per annum, yielding an attractive 12.59%. The commercial unit benefits from a rateable value of £2,000 per annum, qualifying for 100% business rates relief. The residential flat is in Council Tax band A, EPCs TBC. Viewings are strictly by appointment only. Please contact the agent to arrange a viewing.
GROUND FLOOR COMMERCIAL PREMISES
FRONT RETAIL SPACE 17' 3" x 14' 1" (5.27m x 4.31m) uPVC double glazed entrance door and windows with security shutters, power points and lighting. Opening and step to rear retail space.
REAR RETAIL SPACE 13' 6" x 13' 9" (4.12m x 4.21m) Storage cupboard, uPVC double glazed window, power points an lighting. Door leads to the kitchen.
KITCHEN 8' 9" x 6' 1" (2.67m x 1.86m) Wall unit, stainless steel sink with electric water heater over, plumbed for a washing machine, vent for a tumble dryer, uPVC double glazed window and door leading to the WC and to the rear yard.
WC 2' 10" x 6' 1" (0.88m x 1.86m) WC and a uPVC double glazed window.
HEATING The ground floor is currently heated via portable electric heaters.
BUSINESS RATES rateable value of £2,000 per annum, qualifying for 100% business rates relief
ENERGY EFFICIENCY EPC rating TBC. Please speak to a member of staff for a copy of the full Energy Performance Certificate.
GLAZING uPVC double glazing installed.
FIRST FLOOR RESIDENTIAL FLAT
REAR ENTRANCE The self-contained residential flat is accessed via a shared yard (with the ground floor commercial element) to the rear which also provides off-street parking.
STAIRS Entrance doors leads to an internal staircase and first floor landing.
LOUNGE/KITCHEN 15' 3" x 13' 10" (4.65m x 4.23m) Decorative wooden fire surround, Kitchen area with base units, kitchen worktop and tiled slash-backs. Slot-in electric cooker, stainless steel sink with mixer tap. uPVC double glazed window, double radiator, door to the utility room and an opening to the bedroom.
BEDROOM (TO THE FRONT) 10' 5" x 17' 3" (3.19m x 5.27m) Slit into two area with a bedroom area and a dressing or living area. uPVC double glazed window, decorative cast iron fire surround and a double radiator.
UTILITY ROOM 5' 0" x 6' 2" (1.53m x 1.88m) Laminate worktop, wall mounted has combi central heating boiler, plumbed for a washing machine, uPVC double glazed window and a sliding door leading to the bathroom.
BATHROOM 6' 6" x 6' 2" (2.001m x 1.88m) A white suite featuring a panelled bath with electric shower over, glazed screen and tiled splash-back and PVC panelled wall. Pedestal wash basin, WC, single radiator, wall extractor fan and a uPVC double glazed window.
HEATING The first floor flat a gas fired central heating via combination boiler and radiators.
GLAZING uPVC double glazing installed.
ENERGY EFFICIENCY EPC rating TBC. Please speak to a member of staff for a copy of the full Energy Performance Certificate.
COUNCIL TAX The property is in Council Tax band A.
TENURE We understand that the property is freehold. We would recommend that any purchaser has this confirmed by their legal advisor.
VIEWINGS Strictly via appointment with David Bailes Property Professionals.
MAKING AN OFFER Please note that all offers will require financial verification including mortgage agreement in principle, proof of deposit funds, proof of available cash and full chain details including selling agents and solicitors down the chain. Under New Money Laundering Regulations we require proof of identification from all buyers before acceptance letters are sent and solicitors can be instructed.
MORTGAGE ADVICE We have independent mortgage advisers within our branch, who will search the whole market to find the best suitable mortgage and help you progress through the process. Contact our office to arrange a telephone or office appointment.
AGENTS NOTE Whilst we endeavour to make our particulars accurate and reliable, they should not be relied on as a statement or representations of fact, and do not constitute any part of an offer or contract. The owner does not make or give, nor do we or our employees have authority to make or give any representation or warranty in relation to the property. We have not checked or tested any appliances mentioned (including heating systems or electrical fittings) therefore working order cannot be confirmed. All measurements are given to the nearest 5cm.
GROUND FLOOR COMMERCIAL PREMISES
FRONT RETAIL SPACE 17' 3" x 14' 1" (5.27m x 4.31m) uPVC double glazed entrance door and windows with security shutters, power points and lighting. Opening and step to rear retail space.
REAR RETAIL SPACE 13' 6" x 13' 9" (4.12m x 4.21m) Storage cupboard, uPVC double glazed window, power points an lighting. Door leads to the kitchen.
KITCHEN 8' 9" x 6' 1" (2.67m x 1.86m) Wall unit, stainless steel sink with electric water heater over, plumbed for a washing machine, vent for a tumble dryer, uPVC double glazed window and door leading to the WC and to the rear yard.
WC 2' 10" x 6' 1" (0.88m x 1.86m) WC and a uPVC double glazed window.
HEATING The ground floor is currently heated via portable electric heaters.
BUSINESS RATES rateable value of £2,000 per annum, qualifying for 100% business rates relief
ENERGY EFFICIENCY EPC rating TBC. Please speak to a member of staff for a copy of the full Energy Performance Certificate.
GLAZING uPVC double glazing installed.
FIRST FLOOR RESIDENTIAL FLAT
REAR ENTRANCE The self-contained residential flat is accessed via a shared yard (with the ground floor commercial element) to the rear which also provides off-street parking.
STAIRS Entrance doors leads to an internal staircase and first floor landing.
LOUNGE/KITCHEN 15' 3" x 13' 10" (4.65m x 4.23m) Decorative wooden fire surround, Kitchen area with base units, kitchen worktop and tiled slash-backs. Slot-in electric cooker, stainless steel sink with mixer tap. uPVC double glazed window, double radiator, door to the utility room and an opening to the bedroom.
BEDROOM (TO THE FRONT) 10' 5" x 17' 3" (3.19m x 5.27m) Slit into two area with a bedroom area and a dressing or living area. uPVC double glazed window, decorative cast iron fire surround and a double radiator.
UTILITY ROOM 5' 0" x 6' 2" (1.53m x 1.88m) Laminate worktop, wall mounted has combi central heating boiler, plumbed for a washing machine, uPVC double glazed window and a sliding door leading to the bathroom.
BATHROOM 6' 6" x 6' 2" (2.001m x 1.88m) A white suite featuring a panelled bath with electric shower over, glazed screen and tiled splash-back and PVC panelled wall. Pedestal wash basin, WC, single radiator, wall extractor fan and a uPVC double glazed window.
HEATING The first floor flat a gas fired central heating via combination boiler and radiators.
GLAZING uPVC double glazing installed.
ENERGY EFFICIENCY EPC rating TBC. Please speak to a member of staff for a copy of the full Energy Performance Certificate.
COUNCIL TAX The property is in Council Tax band A.
TENURE We understand that the property is freehold. We would recommend that any purchaser has this confirmed by their legal advisor.
VIEWINGS Strictly via appointment with David Bailes Property Professionals.
MAKING AN OFFER Please note that all offers will require financial verification including mortgage agreement in principle, proof of deposit funds, proof of available cash and full chain details including selling agents and solicitors down the chain. Under New Money Laundering Regulations we require proof of identification from all buyers before acceptance letters are sent and solicitors can be instructed.
MORTGAGE ADVICE We have independent mortgage advisers within our branch, who will search the whole market to find the best suitable mortgage and help you progress through the process. Contact our office to arrange a telephone or office appointment.
AGENTS NOTE Whilst we endeavour to make our particulars accurate and reliable, they should not be relied on as a statement or representations of fact, and do not constitute any part of an offer or contract. The owner does not make or give, nor do we or our employees have authority to make or give any representation or warranty in relation to the property. We have not checked or tested any appliances mentioned (including heating systems or electrical fittings) therefore working order cannot be confirmed. All measurements are given to the nearest 5cm.
01207 438016
David Bailes Estate Agent
Anthony Street, Stanley, Durham, DH9 8AF
See all properties from this agentSend me homes like this by email
