Property Particulars INVESTMENT FOR SALE 8 Percy Park Road Tyne & Wear NE30 4LY

 Investment opportunity for sale  Popular Tynemouth location

 Total size of 46.68m² (502ft²)  EPC F144

 Reflects NIY of 7.81%  Guide price of £225,000

www.bradleyhall.co.uk 0191 232 8080

www.bradleyhall.co.uk

SITUATION AGENTS NOTES The subject property is located on Percy Park Road in the heart You may search our company website www.bradleyhall.co.uk for details of all Tynemouth. Percy Park Road links with Front Street which is a popular our current instructions. retail and leisure destination. Tynemouth lies on the coast and is a In accordance with the Code of Leasing Business Premises: and Wales popular tourist destination. Tynemouth benefits from coastal the landlords are willing to consider alternative lease terms to those set out beaches, Tynemouth Priory and Castle, Collingwood Monument and above but please bear in mind that variations may affect the level of rent proposed. Park . A copy of the Code of Leasing Business Premises: England and Wales can be obtained at www.leasingbusinesspremises.co.uk or obtained from the Royal The property is within close proximity to Tynemouth Metro Station Institution of Chartered Surveyors, Telephone 0207 334 3806. and a number of local stops. Additionally, the property is less than 1 mile from the A1058 (Coast Road) and provides access to the A19, which is 3.5 miles to the west and which is 9 miles to the west. Tynemouth is approximately 1 mile east of and 2.5 miles south of Whitley Bay.

DESCRIPTION The subject property comprises a mid terrace retail unit providing 46.68m² (502ft²) of accommodation over ground floor and basement. The premises is currently occupied as a solicitor’s office and benefits from permitted use of both an A1 and A2 use class.

TENANCY INFORMATION The entire premises is let by way of an assignment to Blackett Hart and Pratt LLP on a 6 year Full Repairing and Insuring (FRI) lease from 1st September 2013. The current passing rent is £18,000 per annum until expiry.

TERMS The property is available at a figure of £225,000 (Two Hundred and Twenty Five Thousand Pounds) equating to a NIY of 7.81%, when taking into consideration purchasers costs at 2.47%.

RATING ASSESSMENT Description RV Estimated Rates Payable Shop and £6,800 £3,168.80 Premises

We are advised that the rateable value of the premises as at 1

April 2017 is £6,800 and we have estimated the accrual rates IMPORTANT NOTICE payable for the current year above. This is based on the standard Bradley Hall for themselves and for the Vendors or Lessors of this property Small Business Rate of 46.6p in the pound. However, interested whose agents they are give notice that: parties should confirm the current position with the Local 1) the particulars are set out as a general outline only for the guidance of Authority. intending purchasers or lessees and do not constitute part of an offer or contract.

2) all descriptions, dimensions, references to condition and necessary LEGAL COSTS permissions for use and occupation and their details are given in good Each party is to bear their own legal costs involved in the transaction. faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of VAT fact but must satisfy themselves by inspection or otherwise as to the All rents, premiums and purchase prices quoted herein are correctness of each of them. 3) no person in the employment of Bradley Hall has any authority to make exclusive of VAT. All offers are to be made to Bradley Hall upon or give any representation or warranty whatever in relation to this this basis, and where silent, offers will be deemed net of VAT. property of these particulars nor enter into any contract relating to the property on behalf of Bradley Hall, nor any contract on behalf of the VIEWING Vendor. For general enquiries and viewing arrangements please contact sole 4) no responsibility can be accepted for any expenses incurred by intending purchasers or lessees in inspecting properties which have agents Bradley Hall Chartered Surveyors; been sold, let or withdrawn. Nicholas Bramwell Registered in England No. 07236458 [email protected] 1 Hood Street, Newcastle upon Tyne, NE1 6JQ 0191 232 8080

1 Hood Street, Newcastle upon Tyne, NE1 6JQ Tel: 0191 232 8080 Email: [email protected]