41 Stamfordham Road, Newcastle upon Tyne, Tyne and Wear, NE5 3JN

Online Auction 14th February 2023 Tenanted Ground Floor Retail Unit Understood to be Let at £10,400 pa - Plus Freehold Of First Floor (sold off on long lease) The property is to be sold as Auction without Possession, as such, we have not entered or inspected the property and no viewings can be undertaken. Please note the business is not included in the sale. We have been advised of the following potential issues: • There are anticipated issues with the roof, as a result of which, it may require repair or replacement • The property does not have an electrical safety certificate due to water seepage from the roof onto the electrical wiring • The freeholder has indicated that they may serve a Section 146 Notice, due to the alleged disrepair. From information provided the property briefly comprises a ground floor convenience shop (held long leasehold for the residue of a 999 year lease from 1995) plus the freehold of the first floor flat subject to a 999 year lease. Tenancy The shop (t/as JCR Convenience Stores / Go Local) is subject to a lease dated 21st December 2018 for a period of 10 years. The lease contains an option for the lessee to renew for a further 10 years. Rent: £10,400 per annum subject to review. It is not known if the tenants are in occupation. The under lease provides for VAT to be charged on the rent payable which suggests that an option to tax may be in place. A…

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