Woods Terrace, Seaham, SR7

Holbrook and Co Estate agents, in partnership with iamsold limited, are delighted to bring to the market this exceptional, multi-use freehold space in Seaham. This investment property comprises of a ground floor commercial shop accompanied with a two bedroom first floor flat. The property offers a floor space 130.36 sq. m (1403 sq. ft) over two floors located within this busy shopping parade of mixed use commercial and residential properties. Ideally located on Woods Terrace the downstairs offers a large, fully refurbished commercial space with kitchen facilities to the rear and a W/C. Access to the rear lane and a separate access to the first floor flat via a communal rear entrance. Upstairs offers a fully refurbished two bedroomed flat. It is anticipated that the shop unit will command a rent of £600-£700 pcm and the first floor flat £475-£525 pcm which should realise an anticipated rent yield above 10%. 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.