7 Union Street, Jarrow, Tyne and Wear, NE32 3PD

Lot No. 2
UK Property Auctions are excited to bring to the market this excellent opportunity to acquire this Freehold full renovation project located in Jarrow, Tyne and Wear. Comprising of a large interlocked bar, gaming room and a restaurant area on the ground floor and multiple flats on the 1st floor this property is ideal for an investment. With solid construction and a prime location this property would be ideal to be brought back to its original state as a running pub for the local community. The potential rental income is £795pcm for a 1x4 Bed flat and £695pcm for a 1x3 Bed flat . The downstairs pub has potential to achieve £1200pcm. Overall potential income per annum is £32,380 with a yield of 14% This property is located on Union Street in Jarrow, eight miles South East of Newcastle via the Tyne Tunnel and nine miles North West of Sunderland. The town centre is located close to the subject property with retail and leisure use. Unconditional Sale- The Purchaser shall pay a 5% deposit (subject to a minimum of £5,000) upon the fall of the hammer. In addition a 3% Buyers Premium + VAT (Minimum Fee £5000 + Vat) and contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated). The Agent has not tested the utilities, appliances, or inspected the roof space. The floor plans and dimensions are for guidance only.
Auction Starts June 15th 2022
Guide Price:
£230,000+ fees
Starting Price:
£230,000+ fees
Guide Price: £230,000 + fees
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