178 York Road, Hartlepool, Cleveland, TS26 9EA

Description

Freehold takeaway restaurant investment comprising ground floor sales and preparation area, with office and storage accommodation provided on the upper floors. Total accommodation approximately 152.91 sq m (1,646 sq ft). Well located close to the town centre. VAT is applicable.

Accommodation

Ground floor sales and preparation area, with office and storage accommodation on the upper floors; approximately 152.91 sq m (1,646 sq ft) total accommodation

Location

Hartlepool is approximately 8 miles north of Middlesbrough and 17 miles south of Sunderland. The town benefits from excellent road communications, with the A689 dual carriageway providing direct links to both the A19 and A1(M). The property is situated in a corner position on the east side of Lister Street at its junction with Lister Street. Occupiers close by include a number of local retailers.

Tenure / Property Information

Investment Analysis

The guide of £280,000–£300,000 is materially above the supplied completed sale of the same property at £145,000 on 30 April 2020. The other supplied York Road sales are older and/or different property types. No current commercial comparables, passing rent or capitalisation evidence is provided, so a current market value, GDV or maximum bid cannot be reliably established. VAT is applicable and additional seller or third-party charges may apply.

Investment Snapshot

Strategy Recommendation

Treat as a commercial income investment only if the full lease, passing rent, tenant covenant, VAT position and operating information support the guide price. Do not bid based on yield until the rent and all acquisition costs are confirmed.

Works Required

No refurbishment or repair works are evidenced. The property is described as an operational takeaway investment with sales, preparation, office and storage accommodation. Condition, compliance requirements and any landlord obligations should be verified before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR strategy cannot be assessed from the evidence. There is no refurbishment budget, passing rent, current valuation or refinance basis. The existing lease reportedly runs to 2040 without breaks, with reviews in 2030 and 2035, but the rent payable and lease terms needed for underwriting are absent.

Buy-to-Let Analysis

This is a commercial takeaway investment rather than a conventional residential BTL. The passing rent is not supplied, so rental income, yield and debt-service coverage cannot be calculated. The residential £550 pcm asking-rent evidence is not relevant to this commercial property.

Flip Analysis

A flip or resale surplus cannot be calculated. No refurbishment requirement, current GDV, selling allowance or transaction-cost schedule is supplied. The 2020 sale at £145,000 provides historical context only and does not establish a current resale value.

Investor Risks & Due Diligence

• Passing rent is not supplied, preventing yield and income assessment.

• The guide is substantially above the supplied £145,000 completed sale of the same property in 2020, with no current valuation evidence provided.

• VAT is applicable and may materially affect the acquisition cost.

• Additional seller or third-party charges may apply, but no amounts are supplied.

• Lease expiry is stated as 2040 with reviews in 2030 and 2035; the rent, review mechanism and other lease terms require verification.

• Tenant covenant, repairing obligations, compliance status and condition are not evidenced.

• No EPC, business rates or other property-operating information is supplied.

Recommendation

Treat as a commercial income investment only if the full lease, passing rent, tenant covenant, VAT position and operating information support the guide price. Do not bid based on yield until the rent and all acquisition costs are confirmed.

Strategy Rating

Analysis Confidence

The property description, tenure, occupancy, lease dates, floor area and historical sales are supplied, but passing rent, lease rent-review details, current commercial comparables, condition, EPC and buyer or administration costs are absent.