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9 Battle Hl 1,168 sq ft Retail Unit Offered at £160,000 in Hexham NE46 1BA
INVESTMENT HIGHLIGHTS
- Prime location
- Prominent frontage
- Great connectivity
EXECUTIVE SUMMARY
Located on Battle Hill, which forms part of the main vehicular route through Hexham town centre, with occupiers nearby including Post Office, HSBC, Greggs and more.
PROPERTY FACTS
| Total Property Size | 1,264 sq ft | Typical Floor Size | 632 sq ft |
| Property Type | Retail (Unit) | Year Built | 1880 |
| Property Subtype | Shopfront | Tenancy | Single |
| Costar Property Class | C | Total Plot Size | 0.05 ac |
| Floors | 2 |
| Total Property Size | 1,264 sq ft |
| Property Type | Retail (Unit) |
| Property Subtype | Shopfront |
| Costar Property Class | C |
| Floors | 2 |
| Typical Floor Size | 632 sq ft |
| Year Built | 1880 |
| Tenancy | Single |
| Total Plot Size | 0.05 ac |
AMENITIES
- 24 Hour Access
1 UNIT AVAILABLE
Unit 9A
| Unit Size | 1,168 sq ft | Sale Type | Investment |
| Price | £160,000 | Tenure | Long Leasehold |
| Price Per sq ft | £136.99 | Net Initial Yield | 8.44% |
| Unit Use | Retail | NOI | £13,500 |
| Unit Size | 1,168 sq ft |
| Price | £160,000 |
| Price Per sq ft | £136.99 |
| Unit Use | Retail |
| Sale Type | Investment |
| Tenure | Long Leasehold |
| Net Initial Yield | 8.44% |
| NOI | £13,500 |
DESCRIPTION
Property Description:
Comprises ground floor restaurant with ancillary accommodation at first floor, providing the following accommodation and dimensions:
Ground Floor: 40 sq m (430 sq ft)
Open plan restaurant, storage, wc
First Floor: 115 sq m (1,238 sq ft)
Kitchen. storage, office, ancillary
Total GIA: 155 sq m (1,668 sq ft)
Location:
Hexham is a thriving market town, lying adjacent to the A69 Trans-Pennine route, which provides access to the A1 trunk road some 20 miles to the east. Carlisle lies around 38 miles to the west and Newcastle upon Tyne City centre around 23 miles to the east. The property is located on Battle Hill, which forms part of the main vehicular route through Hexham town centre. Fore Street is located approximately 50 yards to the east. The property adjoins the Globe Inn, and is directly opposite the town’s Post Office.
SALE NOTES
Investment Consideration:
Gross Initial Yield: 8.44%
Rental Income: £13,500 p.a.
VAT is NOT applicable to this property
Comprises ground floor restaurant with ancillary accommodation at first floor
Rent review is outstanding from 8th April 2021
Tenant break option in 2021 NOT exercised
Located on Battle Hill, which forms part of the main vehicular route through Hexham town centre, with occupiers nearby including Post Office, HSBC, Greggs and more.
Tenancy:
The property is at present let to an Individual t/a Greek Restaurant for a term of 10 years from 8th April 2016 at a current rent of £13,500 per annum and the lease contains full repairing and insuring covenants. Rent review is outstanding from 8th April 2021. Tenant break option in 2021 NOT exercised. Lease within the Landlord and Tenant Act 1954.
Tenure:
Long leasehold. To be held on a 999 Year lease from completion at a ground rent of peppercorn.
NEARBY MAJOR RETAILERS
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9 Battle Hl
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