For Sale

Investment, 27 The Crescent, Middlesbrough TS5 6SG

2,184 Sq Ft
£400,000
  • Ref: CPNE_102244
  • Availability: For Sale
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Property Features

  • Commercial Investment For Sale
  • Let to North Star Housing Group
  • Commercial Rental Income of £37,500 pa

Property Summary

The property is located on the edge of Linthorpe Village Middlesbrough in a desirable residential area with a mix of private and commercial residential uses. Local shops near by offer excellent amenity for residents.

INVESTMENT SUMMARY
• Freehold Residential Property in commerc...

Full Details

The property is located on the edge of Linthorpe Village Middlesbrough in a desirable residential area with a mix of private and commercial residential uses. Local shops near by offer excellent amenity for residents.

INVESTMENT SUMMARY
• Freehold Residential Property in commercial use
• Let to North Star Housing Group
• Linthorpe Village Location
• Commercial rental income of £37,500 pax
• Offers sought in the region of £400,000 (Four Hundred Thousand Pounds) exclusive, Subject to Contract, reflecting an attractive 9% Net Initial Yield (allowing for purchaser’s costs at 3.91%)

The property comprises a semi-detached property with Slate roof 7 bedroom and 4 reception rooms and large hall, spread over 3 floors. Large gardens to the front and to rear.

PLANNING
The property has a permitted use as private dwelling. The Housing Group provide live in sheltered accommodation service for the Local Authority housing service.

LEASE DETAIL
A Lease of the whole property to North Star Housing Group (formerly Endeavour Housing) on a 10 year lease from 1 January 2020 ending 31 December 2030. There is a tenant only break in 2027 on 6 months’ notice. The passing is £37,500 pax. There is an open market, upward only rent review 1 January 2025. The lease is a tenants Full Repairing and Insuring lease without a schedule of condition.

PRICE
Offers sought in the region of £400,000 (Four Hundred Thousand Pounds) exclusive, Subject to Contract reflecting an attractive 9% Net Initial Yield (allowing for purchaser’s costs at 3.91%)



Accommodation:
GF Bedroom 1: 208.00 sqft
GF Reception: 143.00 sqft
Lounge: 245.00 sqft
Dining: 201.00 sqft
Kitchen: 205.00 sqft
FF Bedroom 2: 243.00 sqft
FF Bedroom 3: 158.00 sqft
FF Bedroom 4: 145.00 sqft
FF Bedroom 5: 219.00 sqft
SF Bedroom 6: 200.00 sqft
SF Bedroom 7: 217.00 sqft
Total: 2,184.00 sqft