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This is an excellent opportunity to purchase this three story mixed use building, currently positioned within the prime Market Place location situated within the highly regarded historic Hexham Town Centre close to Hexham Abbey and Moot Hall with a high degree of footfall. Constructed in stone and slate, this Grade 2 listed building is in excellent order. Subject to planning, this could be an excellent change of use scheme for serviced offices, residential or to be retained in its current format with our suggestion on valuation to increase the rent in totality.
The ground floor comprises a self contained retail spacious retail unit with previous long term tenants commercial tenants and Independent retailers. with the first and second floor converted to a well appointed three bedroom maisonette with secondary glazing and provision, subject to planning to convert into smaller apartments. The property is currently vacant possession and the ground floor is also available on a lease. The upper residential floors are also available on an assured shorthold tenancy agreement. Previous rental income has been £36,800 per annum and we would advise this to be uplifted.
Retail Unit: Ground Floor 863 sq ft Basement 502 sq ft
Maisonette: Ground Floor: Lobby First Floor: Landing, Bedroom 1 (Double), Bedroom 2 (Double), Bedroom 3 (Double), Shower Room and Cloakroom/W.C. Second Floor: Landing, Sitting Room, Living Room, Breakfasting Kitchen, Utility Room and Cloakroom/W.C. SERVICES Utilities Mains water, electricity and drainage are connected to the property.
The property is for sale as a whole at a guide price of £450,000. The ground floor retail investment is also available as a stand alone investment for £320,000 RATEABLE VALUE Ground Floor: £21,000 (Shop and Premises) COUNCIL TAX Council Tax Band A. LEGAL COSTS Each party to bear their own legal costs. EPC Rating (F)
This is a rare and enviable opportunity for investment and all enquiries are to our commercial team as sole selling and letting agents.
North East Real Estate trading as Lincoln Miles Estate Agents is a Limited company registered with Companies House in England and Wales: 13703149 | VAT: 364 4437 87