Lot 03 Navigation Point, 30 Middleton Road, Hartlepool, TS24 0UQ

Bidding Closed

SOLD FOR

£102,000

Property Enquiries

Simon Bailey

simon.bailey@bidx1.com
+44 (0) 7732 681 156

Viewing/ Registration Enquiries

BidX1 Support Team

info@uk.bidx1.com
+44 (0) 20 7703 4401

Vendor Solicitor

Jo Grey

jo.grey@grey-smithlegal.com
01287 653990
Description
Map
Viewings

Property Summary
  • Virtual freehold leisure investment
  • Modern development overlooking Hartlepool Marina
  • Let until 2023
  • Fixed rental increase in June 2022
  • Producing £13,200 per annum (1)
Tenure

Long leasehold for a term of 999 years from 19/05/2017 at a ground rent of £250 per annum increasing by £250 every ten years

Location

Hartlepool is a port town lying on the North Sea coast about 18 miles south east of Durham and 29 miles south east of Newcastle upon Tyne. It can be accessed via the A179 and A689, with the latter providing access to the A19 and A1(M) to the west. Hartlepool and Seaton Carew railway stations serve the town, which provided regional rail links to the likes of Sunderland, Newcastle and Middlesbrough, which provide national rail connections.

The property is situated within the modern Navigation Point development overlooking Hartlepool Marina, which provides a mix of shops, cafes, bars and restaurants together with a mix of residential and office buildings. There is a pay and display car park located at the Marina.

Description

The ground floor only of a larger three storey modern building. The property is arranged as a bar/restaurant with ancillary accommodation totalling approximately 181.18 sq m (1,950 sq ft). There is the provision at the front for some outside seating overlooking the Marina.

Planning

Hartlepool Borough Council (01429 524317) http://www.hartlepool.gov.uk

VAT
VAT is applicable to this sale, please refer to the legal documents for further details.
Property Table
UnitAccommodationTenancyRent
TOTAL181.18 sq m (1,950 sq ft) £13,200 (1)
30 Navigation PointGround floor bar - 136.72 sq m (1,471 sq ft)
Ancillary/WCs - 44.46 sq m (478 sq ft)
Let to Hylton Property Services Ltd t/a The Fuschia Lounge for a term of five years from 19/06/2018£13,200 (1)

(1) Fixed rental increase to £14,500 per annum on 29/06/2022
The floor areas have been obtained from www.tax.service.gov.uk

EPC

Rating 49 Band B


*Terms and Conditions

Buyers are strongly advised to read these terms and conditions, and check the Special Conditions and any applicable Addendum, prior to bidding on a Lot. Additional costs, charges and encumbrances may apply for Buyers once they have made a successful bid in relation to a property.

  1. The reserve price is the minimum price at which the property can be sold at auction.
  2. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the guide price, or range of prices, is published. The sale price, whether prior to or at the auction, can be above or below the guide price depending upon market activity. BidX1 and the seller accept no responsibility for any losses, costs or damages incurred by a buyer as a result of relying on any guide price. The buyer must decide how much they should bid for any Lot. All guide prices are quoted subject to contract. Guide prices given by BidX1 or the seller cannot be accepted by the buyer as being a professional valuation for any purpose in accordance with the requirements or guidance notes of relevant professional bodies or other authorities.
  3. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any Lot may exceed the previously quoted guide price (as the seller may fix the final reserve price just before bidding commences).
  4. The guide price for the Lot does not include the administration fee of £1,250 (inclusive of VAT) charged by BidX1. In the case of a joint agent this administration fee will be £2,400 (inclusive of VAT). In addition, the guide price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.
  5. To participate in the sale BidX1 must hold a minimum amount from all bidders. This participation amount and administration fee is fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £4,750 comprises £3,500 relating to your bidder security (partial deposit payment) and an administration fee payable directly to BidX1. A higher participation amount may be payable depending on the reserve price of the Lot.
  6. Please note that Lots may be sold or withdrawn prior to auction.
  7. All lots sold “Subject to Vendor Confirmation” will be subject to the acceptance and confirmation by the Vendor. The highest bid will be presented to Vendor, the vendor will have to either accept, decline or make a counter offer the highest bid within the confirmation period. Should the Vendor decide to make a counteroffer, then a private link will be sent to the Highest Bidder advising the offer the Vendor is willing to accept. The Highest Bidder will have to either accept or reject the Vendor’s counteroffer. The Vendor reserves the ultimate right, apart from the auctioneer, to accept and to decline to sell to the highest or any bidder, without giving any reasons.
  8. No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the seller in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the seller. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the seller. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller.


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