£495,000
(£100.73/sq. ft)
Retail premises for saleNewgate Street, Morpeth NE61
4,914 sq. ft
About this property
Commercial investment portfolio
4x commercial retail/office units
2x units currently tenanted
Generating 26,000 per annum
Desirable town centre location
To be sold freehold (please refer to legal pack)
Summary
Substantial Commercial Portfolio - Newgate Street, Morpeth Town Centre
We are delighted to offer to auction this substantial and well-located commercial portfolio, prominently positioned on the popular Newgate Street in the heart of Morpeth town centre.
The portfolio comprises four commercial units, including: A vacant retail unit - offering excellent potential for owner-occupiers or investors. A tenanted caf - providing immediate rental income. A former florist shop - suitable for a variety of uses, subject to necessary consents. Upper floor office accommodation - ideal for refurbishment or conversion.
The tenanted element of the portfolio currently generate a rental income of approximately 13,500 per annum, offering a strong return with significant scope for increased yields through letting or redevelopment of the vacant parts.
This is a rare opportunity to acquire a prominent, mixed-use investment in a thriving market town location, with excellent footfall and long-term asset management potential.
Key Features:
Prime town centre location
Four units with mixed-use potential
Immediate rental income with further development potential
Suitable for investors or developers
For more information, please call the Morpeth office.
Location
The subject property is located along Newgate Street, Morpeth. It is a short walk away from Morpeth town centre where you'll find local shops, restaurants and all other amenities. The property is right next to the River Wansbeck where you can go for scenic walks.
Rateable Value
The adopted rateable values are as follows (sourced from voa).
50 Newgate Street: 5,200
52 Newgate Street: 10,500
54 Newgate Street: 10,500
First/second floors, 54 Newgate Street: 6,400
Tenure
Currently pending first application
Additional Information
For further information please contact our office direct on , or alternatively via e-mail on . With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.
EPC
All available upon request (ratings C, D, C, E).
Accommodation
50 Newgate Street
Ground, first and second floor retail/showroom space measuring 152.80sqm (1,645sqft).
52 Newgate Street
Ground floor cafe premises measuring 107.05sqm (1,152sqft)
54 Newgate Street
Ground floor retail accommodation measuring 118.70sqm (1,278sqft)
54a Newgate Street
First and second floor office accommodation measuring 77.90sqm (839sqft).
Substantial Commercial Portfolio - Newgate Street, Morpeth Town Centre
We are delighted to offer to auction this substantial and well-located commercial portfolio, prominently positioned on the popular Newgate Street in the heart of Morpeth town centre.
The portfolio comprises four commercial units, including: A vacant retail unit - offering excellent potential for owner-occupiers or investors. A tenanted caf - providing immediate rental income. A former florist shop - suitable for a variety of uses, subject to necessary consents. Upper floor office accommodation - ideal for refurbishment or conversion.
The tenanted element of the portfolio currently generate a rental income of approximately 13,500 per annum, offering a strong return with significant scope for increased yields through letting or redevelopment of the vacant parts.
This is a rare opportunity to acquire a prominent, mixed-use investment in a thriving market town location, with excellent footfall and long-term asset management potential.
Key Features:
Prime town centre location
Four units with mixed-use potential
Immediate rental income with further development potential
Suitable for investors or developers
For more information, please call the Morpeth office.
Location
The subject property is located along Newgate Street, Morpeth. It is a short walk away from Morpeth town centre where you'll find local shops, restaurants and all other amenities. The property is right next to the River Wansbeck where you can go for scenic walks.
Rateable Value
The adopted rateable values are as follows (sourced from voa).
50 Newgate Street: 5,200
52 Newgate Street: 10,500
54 Newgate Street: 10,500
First/second floors, 54 Newgate Street: 6,400
Tenure
Currently pending first application
Additional Information
For further information please contact our office direct on , or alternatively via e-mail on . With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.
EPC
All available upon request (ratings C, D, C, E).
Accommodation
50 Newgate Street
Ground, first and second floor retail/showroom space measuring 152.80sqm (1,645sqft).
52 Newgate Street
Ground floor cafe premises measuring 107.05sqm (1,152sqft)
54 Newgate Street
Ground floor retail accommodation measuring 118.70sqm (1,278sqft)
54a Newgate Street
First and second floor office accommodation measuring 77.90sqm (839sqft).
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