High Street, Stanley
£390,000

Guide price

Bedrooms: 4
A great opportunity to purchase this mixed commercial and residential property, located in Stanley on the A693 and within walking distance of the town centre. This deceptively spacious mid terrace property comprises of two commercial ground floor shops, two first floor flats and a communal forecourt yard providing access to a end link 1 bedroom mews with an attached garage/storage unit.

Only Shop 1 is currently empty, and the landlord has submitted an application for an A5 licence to the council and awaiting approval. Expected rent for Shop 1 would be between £8,000 to £9,000 PA. All other properties have been fully occupied for a number of years and offer a Potential Yield Of Between 7.9% - 8.4% when fully occupied.

SHOP 1 Total Floor Area: 57.1 sq.m. (614 sq.f.) Approx. Currently empty and has an A1 licence and the landlord has applied for an A5 licence and awaiting approval from the council. Potential rent of between £8,000 - £9,000.

SHOP 2 Total Floor Area: 82.6 sq.m (889 sq.f.) Approx. Current tenant lease started October 2019 at £7,200 PA, with the option to extend the lease after year 3 and year 6, and the option to increase the rent in August 2022.

FLAT 1 Total Floor Area Including Communal Entrance Hallway And Landing: 102.9 sq.m. (1108 sq.ft.) Approx. Tenant has a monthly periodic AST agreement and landlord advises the tenant pays £4,600 PA.

FLAT 2 Total Floor Area: 68.8 sq.m. (740 sq.ft.) Approx. Tenant has a monthly periodic AST agreement and landlord advises the tenant pays £4,600 PA.

DUNDEE BARN Total Floor Area: 61.5 sq.m. (673.15 sq.ft.) Approx. Tenant has a monthly periodic AST agreement and landlord advises the tenant pays £4,600 PA

GARAGE/ STORAGE UNIT Total Floor Area: 30.4 sq.m. (315.85 sq.ft.) Approx. Landlord advises the tenant pays £1,300 PA

HEATING All properties except for the storage unit has gas fired central heating via combination boiler and radiators.

MAKING AN OFFER Please note that all offers will require financial verification including mortgage agreement in principle, proof of deposit funds, proof of available cash and full chain details including selling agents and solicitors down the chain. Under New Money Laundering Regulations we require proof of identification from all buyers before acceptance letters are sent and solicitors can be instructed.

VIEWING ARRANGEMENTS Viewing are arranged strictly via David Bailes Property Professionals only.

01207 438016

David Bailes Estate Agent

Anthony Street, Stanley, Durham, DH9 8AF

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