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Horden Labour Club Sunderland Rd 5,000 sq ft 100% Let Retail Property Peterlee SR8 4PF £230,000 (£46/sq ft) 6.03% Net Initial Yield
Investment Highlights
- Potential return of 21% on the guide price
- Upstairs late-night venue fully refitted 2 years ago
- Includes fully furnished 2-bedroom flat
- Previous fully occupied income of £49,380 per annum
- Includes 1,250 sq ft industrial unit / garage with recently laid concrete floor and electric shutters.
Executive Summary
The property at Sunderland Road, Horden, Peterlee, Durham, SR8 4PF is offered as a freehold asset management and investment opportunity via online auction, with a starting bid of £230,000. The asset includes a ground floor licensed social club, a first floor nightclub, a fully furnished 2-bedroom flat, and a 1,250 sq ft industrial unit / garage. The brochure states that the property has previously generated £4,155 per month, equivalent to £49,380 per annum, when fully occupied, representing a potential return of 21% on the guide price. Current income is stated as £13,860 per annum, with the flat let at £475 per month and the garage let at £170 per week on a 3-year lease running until August 2029.
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Property Type
Retail
Tenure
Freehold
Property Subtype
Bar
Property Size
5,000 sq ft
Costar Property Class
C
Year Built
1980
Price
£230,000
Price per sq ft
£46
Yield
6.03%
NOI
£13,860
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
2
Plot ratio
0.75
Total Plot Size
0.15 ac
Parking
2 Spaces (0.18 Spaces per 1,000 sq ft Leased)
Frontage
60 ft on Sunderland Road
Amenities
- 24 Hour Access
- Roller Shutters
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Nearby Major Retailers
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Horden Labour Club | Sunderland Rd
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