Investment, 27 The Crescent, Middlesbrough TS5 6SG
- Commercial Investment For Sale
- Let to North Star Housing Group
- Commercial Rental Income of £37,500 pa
â¢ Freehold Residential Property in commerc...
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.
• 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.
The property has a permitted use as private dwelling. The Housing Group provide live in sheltered accommodation service for the Local Authority housing service.
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.
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%)
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