33 Navigation Point, Harlepool, TS24 0UJ

Description

Retail investment overlooking Hartlepool Marina; 5-year lease expiring September 2030; part of a mixed-use development constructed circa 2000; 1,045-year lease; investment let at £9,000 per annum.

Accommodation

132 sq m (1,418 sq ft), comprising a seating area, bar, kitchen and W/Cs.

Location

The premises are located on Hartlepool Marina close to Hartlepool Town Centre and Hartlepool Train Station. Nearby occupiers include a variety of bars, restaurants, offices and shops as well as a significant number of flats. The Marina is arguably Hartlepool's premier/prime leisure offering. Hartlepool Station is served by National Rail.

Tenure / Property Information

Investment Analysis

The guide is £70,000. Four historic leasehold sales at the same development, completed in 2016–2017, range from £107,000 to £250,000, but the evidence does not provide sufficient detail on their sizes, lease terms, condition, uses or rental income to support a current market value or GDV. The property is let at £9,000 per annum, producing a headline gross yield of approximately 12.86% against the guide before buyer fees, VAT, ground rent and other costs.

Investment Snapshot

Strategy Recommendation

Consider only as a commercial income investment at a price that remains attractive after the buyer fee, any VAT, ground rent and lease-break risk are confirmed. Do not rely on a flip or refinance strategy without updated valuation evidence.

Works Required

No refurbishment or repair requirements are evidenced. The premises comprise a bar, kitchen, seating area and W/Cs and should be assessed through legal, building and services due diligence 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 reliably because no GDV, refurbishment budget, valuation evidence or finance terms are supplied. The long leasehold term is noted, but refinancing value and cash extraction remain unsupported.

Buy-to-Let Analysis

As a commercial income investment, the stated rent is £9,000 per annum, equivalent to £750 pcm, against the £70,000 guide. This gives a headline gross yield of 12.86% before the £500 annual ground rent, increasing ground rent, buyer fee, any VAT and other ownership costs. The five-year lease has a break option and a rent review on its third anniversary, so income security is not fully certain.

Flip Analysis

A flip surplus cannot be established. Although historic same-development sales range from £107,000 to £250,000, the evidence is too limited and dated to support a current resale value. No refurbishment budget or selling-cost allowance is supplied.

Investor Risks & Due Diligence

• The lease includes a break option, creating potential income and occupancy risk.

• The lease rent is subject to review on the third anniversary, so future income is not fixed.

• Ground rent is £500 per annum and increasing, reducing net income.

• The guide excludes the auctioneer's buyer fee and VAT may apply; amounts are not supplied.

• Historic comparable sales are from 2016–2017 and lack sufficient detail for a current valuation.

• The property is leasehold and the lease covenants, service charge and other occupational costs are not supplied.

Recommendation

Consider only as a commercial income investment at a price that remains attractive after the buyer fee, any VAT, ground rent and lease-break risk are confirmed. Do not rely on a flip or refinance strategy without updated valuation evidence.

Strategy Rating

Analysis Confidence

The current rent, lease summary, guide price and historic same-development sales are supplied, but there is no buyer fee, VAT treatment, EPC, condition report, comparable detail, current valuation evidence or refurbishment information.