Station Road, Ashington

FOR SALE. INVESTMENT
The property comprises an end-terraced two storey building which is currently occupied by way of a sub-lease to an established Hairdressing Salon Tenant.

Location - The property occupies a prominent corner position on the north side of Station Road, Ashington’s prime retail thoroughfare.

The property is well positioned to benefit from the soon to be reopened Ashington Train Station which lies diagonally opposite. The development includes six new stations which will link to Newcastle City Centre in approximately 36 minutes. Services are due to be running by the end of 2023.

Description - The property comprises an end-terraced two storey building which is currently occupied by way of a sub-lease to an established Hairdressing Salon Tenant. Internally, the property provides a salon, kitchen and WC’s at first floor. Externally, there is a concrete yard to the rear providing 3 off-street parking spaces with associated electric vehicle charging points which does not form part of the demise on offer.

Accommodation - The retail unit has a Net Internal Area (NIA) extending to 134.67 sqm (1,449 sqft).

Services - We understand that all main services are connected to the property. There is also a gas fired central heating system installed serving steel radiators.
(All interested parties should satisfy themselves with the local service providers)

Rating Liability - The property is assessed in the 2020 business rate list as having a Rateable Value of £7,700. The draft 2023 assessment is £6,200.

Tenure - The property is offered Freehold subject to a commercial lease.

The lease which relates to the property excluding the yard is drafted on FRI terms for a 5 year term effective from 3rd March 2021. The passing rent is £10,000 per annum. The Tenant is Phoenix Taxis (North East) Ltd.

The ground and first floor accommodation has been sublet to Hair with Cheyenne which is an established Hairdressing Salon.

Energy Performance Certificate - The energy performance rating is as follows:
C (63)

Price - Our client is seeking offers over £115,000 for the Freehold Interest.

Legal Costs - Each party will be responsible for their costs in the transaction.

Money Laundering Regulations - In accordance with the Anti-Money Laundering Regulations the Purchaser / Tenant will be required to provide two forms of identification and proof of the source of income.

Vat - All prices quoted are exclusive of VAT at the prevailing rate.