Property ID : 124-130 Oxford Road, Hartlepool
For Sale - Available £250,000 - Commercial, Investment Property, Mixed Use
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MIXED USE INVESTMENT OPPORTUNITY
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3 Ground Floor Retail Units with 2 First Floor Residential Flats
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Fully occupied
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Current rental income of £27,660 per annum
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Asking price reflects a Gross Yield of 11.06%
FOR SALE
Investment Summary
Multi-let retail investment situated in a largely residential area of Hartlepool. The parade provides three retail units and two residential flats. All units within the parade are occupied. The current rental income is £27,660. A purchase at the asking price reflects an attractive Gross Yield of 11.06%.
Description
The property comprises a mid-terraced block of brick construction and pitched roof. The 3 individual shops provide ground floor sales area, storage and WC. To the first floor are two self-contained residential flats which are let on 12-month tenancies.
Location
The property is located on Oxford Road to the southwest of Hartlepool town centre. The surrounding area includes a significant number of dwellings. Non Domestic occupiers include a variety of hot food takeaways, charity shops, bookmakers, convenience stores and hair salons amongst others. The property occupies a visible position with Oxford Road being one of the principle access routes to the Fens and Owton Manor areas of Hartlepool from the town centre.
Services
As far as we are aware the property has mains supplies of gas, water and electricity in addition to access to mains drainage.
Energy Performance Certificate
All certificates available on request
Rating Assessment
•124 Oxford Road has a rateable value of £3,050
•126-128 Oxford Road has a rateable value of £6,500
•130 Oxford Road has a rateable value of £3,400
•Both residential flats fall within Council Tax band A
Please contact your local authority for more information.
Terms
For Sale Freehold, offers in the region of £250,000.
Tenancy schedule
The property is let in accordance with the Tenancy Schedule below:
| Property | Start Date | Term | Break | Rent PA | Bond | Original Lease Date |
| Ground Floor Units | ||||||
| 124 Oxford Road | 21/4/2023 | 5 Years | 6 months notice (anytime) | £4,420 | £300 | 2018 |
| 130 Oxford Road | 20/06/2023 | 5 Years | 31/07/2025 | £4,420 | £500 | 2023 |
| 126 – 128 Oxford Road | 03/04/2024 | 4 Years | At any time between 1/1/26 & 31/3/2026 by prior notice 1/12026 | £10,200 | £2,000 | 2011 |
| First Floor Residential | ||||||
| 40 Charterhouse Street | 20/06/2024 | 12 Months | None | £4,200 | £350 | 2014 |
| 128a Oxford Road | 01/04/2024 | 12 Months | None | £4,200 | £369.33 | 2024 |