Investment Opportunity – Retail Unit with Residential Flats Above – Fully Let
Billingham, , See map
£280,000
Guide Price
Property Summary
A fantastic opportunity to acquire a fully let mixed-use investment comprising a Morrisons Daily retail unit on the ground floor with two self-contained residential flats above. The property is being sold with tenants in situ, providing an immediate and reliable income stream.
The Morrisons Daily convenience store occupies the ground floor and generates an annual rental income of £15,000. Above, the two residential flats together produce approximately £9,500 per annum, bringing the total income to around £24,500 per year. This well-maintained property offers a strong return and benefits from a high-visibility location with consistent footfall, enhancing its long-term rental appeal.
This is an ideal purchase for investors seeking a hassle-free, income-generating asset.
This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).
If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.
A Buyer Information Pack is provided. The winning bidder will pay £349.00 including VAT for this pack which you must view before bidding.
The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.
Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450.00. These services are optional.
The Morrisons Daily convenience store occupies the ground floor and generates an annual rental income of £15,000. Above, the two residential flats together produce approximately £9,500 per annum, bringing the total income to around £24,500 per year. This well-maintained property offers a strong return and benefits from a high-visibility location with consistent footfall, enhancing its long-term rental appeal.
This is an ideal purchase for investors seeking a hassle-free, income-generating asset.
This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).
If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.
A Buyer Information Pack is provided. The winning bidder will pay £349.00 including VAT for this pack which you must view before bidding.
The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.
Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450.00. These services are optional.
Full Details
Apartment 1 (55A, 1st Floor)
No central heating, apartment is electric only.
Kitchen 5.15 x 1.81
Reception Room 3.05 x 1.96
Bedroom 1 3.29 x 4.15
Bedroom 2 3.14 x 2.02
Bathroom 2.75 x 1.70
Apartment 2 (57, 1st Floor)
Reception Room 3.05 x 1.96
Bedroom 1 3.53 x 4.20
Bedroom 2 3.24 x 3.97
Kitchen 5.15 x 1.81
Bathroom 1.98 x 2.73
Commercial Unit
Measurments to be Obtained
Disclaimer
Auctioneer Comments This property is for sale by Modern Method of Auction allowing the buyer and seller to complete within a 56 Day Reservation Period. Interested parties’ personal data will be shared with the Auctioneer (iamsold Ltd). If considering a mortgage, inspect and consider the property carefully with your lender before bidding. A Buyer Information Pack is provided, which you must view before bidding. The buyer will pay £300 inc VAT for this pack. The buyer signs a Reservation Agreement and makes payment of a Non-Refundable Reservation Fee of 4.5% of the purchase price inc VAT, subject to a minimum of £6,600 inc VAT. This Fee is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. The Fee is considered within calculations for stamp duty. Services may be recommended by the Agent/Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450. These services are optional
