This sizable property presents a compelling opportunity for investors and renovators alike. The ground floor currently houses a food takeout shop that is leased for six years, generating a steady income of £800 per month. Above the retail space, there is a spacious two-bedroom apartment awaiting refurbishment, offering potential rental income between £500 and £1,000 if converted into two separate flats. This setup could yield an impressive return on investment, exceeding 10% once renovations are completed.
The building includes central heating through a boiler system along with UPVC double glazed windows, ensuring energy efficiency. Potential buyers will benefit from existing mains utilities and sewage connections, facilitating ease of renovation.
The commercial kitchen space is already partially equipped with stainless steel appliances and offers an inviting dining area designed with modern aesthetics that can attract various clientele. The upstairs apartments feature original wooden floors and natural light streaming through dormer windows, providing ample opportunities to create stylish living spaces.
While some areas show signs of ongoing or needed renovation—such as the kitchen and living room—this property is essentially a blank canvas ready for personal touches. Given its strategic location in the North East, this property could become both a great residential and commercial asset with thoughtful improvements.
