Retail premises for sale in Central Place, Haltwhistle NE49, £100,000
100,000.00
Offer Nr.:
63444104
Type of ad:
for Sale
Property type:
Retail premises
Contact name:
Blue Alpine Partners
Phone(s):
020 3641 9157
Email:
* Comprises ground floor shop with ancillary at basement and 3 - bed flat (sold - off)
* Asset management opportunity upon reversion. Shop under rented.
* Nearbyoccupiers include hair salon, takeaway and number of other local retailer
Investment Consideration:
Gross Initial Yield: 7. 20%
Rental Income: £7, 200 p. a.
VAT is notapplicable to this property
Comprises ground floor shop with ancillary at basement and 3 - bed maisonette
above (sold - off)
Asset management opportunity. Shop underrented.
Lease expires on 31st July 2025 with rent review on 30th July 2025 open
market, upward only.
Nearby occupiers include hair salon, takeaway and number of otherlocal
retailers.
Property Description:
Three storey end - of - terrace building comprising ground floor shop with
basement and 3 - bed maisonette above (sold - off),providing the following
accommodation and dimensions:
Ground Floor: Shop 135 sq m (1, 450 sq ft)
Basement: Ancillary 50 sq m (540 sq ft)
First & Second Floor: Maisonette(Sold - off)
Tenancy:
The ground floor shop is at present let to Swift Resolution Debt Recovery
Limited for a term of 5 years from 20th July 2020 at a current rent of£7, 200*
per annum and the lease contains full repairing and insuring covenants. Lease
expires on 31st July 2025 with rent review on 30th July 2025 open market,
upwardonly. Break clause in July 2022 not exercised. Shop under rented. Asset
management opportunity to review rent upon lease reversion.
The first/second floor maisonette hasbeen sold - off on long leasehold for a
term of 150 years from 20th May 2022 at a ground rent of peppercorn.
Location:
The property is located in the town ofHaltwhistle, which lies on the route of
the A69 Trunk Road, approximately 37 miles west of Newcastle upon Tyne and 21
miles east of Carlisle. The town also lies on themain Newcastle to Carlisle
railway line. The property lies in a secondary retail location, with nearby
occupiers including beauty salons and hot food takeaways. Otheroccupiers in
the town include Sainsbury’s and Boots the Chemist as well as a number of
local businesses.
* Asset management opportunity upon reversion. Shop under rented.
* Nearby
Investment Consideration:
Gross Initial Yield: 7. 20%
Rental Income: £7, 200 p. a.
VAT is not
Comprises ground floor shop with ancillary at basement and 3 - bed maisonette
above (sold - off)
Asset management opportunity. Shop under
Lease expires on 31st July 2025 with rent review on 30th July 2025 open
market, upward only.
Nearby occupiers include hair salon, takeaway and number of other
retailers.
Property Description:
Three storey end - of - terrace building comprising ground floor shop with
basement and 3 - bed maisonette above (sold - off),
accommodation and dimensions:
Ground Floor: Shop 135 sq m (1, 450 sq ft)
Basement: Ancillary 50 sq m (540 sq ft)
First & Second Floor: Maisonette
Tenancy:
The ground floor shop is at present let to Swift Resolution Debt Recovery
Limited for a term of 5 years from 20th July 2020 at a current rent of
per annum and the lease contains full repairing and insuring covenants. Lease
expires on 31st July 2025 with rent review on 30th July 2025 open market,
upward
management opportunity to review rent upon lease reversion.
The first/second floor maisonette has
term of 150 years from 20th May 2022 at a ground rent of peppercorn.
Location:
The property is located in the town of
the A69 Trunk Road, approximately 37 miles west of Newcastle upon Tyne and 21
miles east of Carlisle. The town also lies on the
railway line. The property lies in a secondary retail location, with nearby
occupiers including beauty salons and hot food takeaways. Other
the town include Sainsbury’s and Boots the Chemist as well as a number of
local businesses.
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