Offers over
£815,000
(£216.99/sq. ft)
Retail premises for saleNewgate Street, Morpeth NE61
3,756 sq. ft
Under offer
About this property
Investment summary
• Located in Morpeth, an attractive and affluent market town in Northumberland, with a population of approximately 12,000 and a County wide population in excess of 310,000.
• Morpeth has excellent transport links via road and rail to neighbouring towns and cities.
• The town is popular with residents and tourists alike, with its medieval castle and imposing bridges.
• The property is situated on Newgate Street, close to Morpeth bus interchange, Morrisons Supermarket and The Sanderson Arcade. This is a popular shopping district.
• Comprising a well-maintained Grade II listed building with off-street parking for up to four cars.
• Entirely let to 12 tenants generating a total rent of £79,094.00 per annum.
We are instructed to seek offers in excess of £815,000 (exclusive of VAT) reflecting a net initial yield of approximately 9.23% assuming purchasers’ costs of 5.51%.
• Located in Morpeth, an attractive and affluent market town in Northumberland, with a population of approximately 12,000 and a County wide population in excess of 310,000.
• Morpeth has excellent transport links via road and rail to neighbouring towns and cities.
• The town is popular with residents and tourists alike, with its medieval castle and imposing bridges.
• The property is situated on Newgate Street, close to Morpeth bus interchange, Morrisons Supermarket and The Sanderson Arcade. This is a popular shopping district.
• Comprising a well-maintained Grade II listed building with off-street parking for up to four cars.
• Entirely let to 12 tenants generating a total rent of £79,094.00 per annum.
We are instructed to seek offers in excess of £815,000 (exclusive of VAT) reflecting a net initial yield of approximately 9.23% assuming purchasers’ costs of 5.51%.
.png){kind=logo}