£280,000
Property for sale58 Norham Terrace, Jarrow, South Tyneside NE32
EPC Rating: D
Just added
Freehold
About this property
Freehold Convenience Store Investment Let to Morrisons Daily
Secure national covenant through major supermarket operator
Rental income £20000 per annum
Net internal area 227.46 sq. M. (2448 sq. Ft.)
10-year lease from 3rd November 2023
Gross yield of 7.14 % on the purchase price
Established residential area within South Tyneside
Freehold Convenience Store Investment Let to Morrisons Daily. Secure national covenant through major supermarket operator. Rental income £20,000 per annum. Net internal area 227.46 sq. M. (2,448 sq. Ft.). 10-year lease from 3rd November 2023. Gross yield of 7.14 % on the purchase price. Established residential area within South Tyneside.
Price £280,000 Freehold
Ref I340
Location
The property is situated on the junction of Norham Terrace and Lumley Terrace, Jarrow, a well-established residential area within South Tyneside, Tyne & Wear. Jarrow lies approximately 6 miles east of Newcastle upon Tyne and 3 miles west of South Shields, benefiting from excellent local road links via the A19 and A194(M). The surrounding area is predominantly residential, providing a strong local catchment for convenience retail, with nearby amenities including schools, community facilities, and local bus services connecting to Jarrow town centre and the wider Tyneside area.
Description
The property comprises a semi-detached, single-storey retail unit with a converted loft, providing a net internal area of approximately 227.46 sq. M. (2,448 sq. Ft.).
The accommodation includes a spacious open-plan retail area, with ancillary accommodation and storage to the rear, and additional space within the converted loft. There is also a basement area, which was not inspected or measured at the time of reporting.
Constructed in 1933 of traditional red brick elevations beneath a pitched slate roof, the building presents in fair condition and occupies a prominent position within a well-established residential area.
The property is let to Morrisons Daily on a 10-year lease from November 2023, producing a current rent of £20,000 per annum, reflecting a net initial yield of approximately 7.14 %.
This offers a secure and attractive convenience retail investment, backed by a strong national covenant, and located in a densely populated catchment providing steady local footfall and repeat trade.
Tenant
Alliance Property Holdings Limited (No.00907499)
Lease Terms
10 years from 3rd November 2023 to and including 2nd November 2033. There is a tenant only break clause on 2nd November 2028 (by giving not less than 6 months’ notice) There is rent review on the 3rd November 2028 (see lease).
Rent
£20,000 per annum
Tenure
Freehold
Price
£280,000
Yield
Gross of 7.14 % on the purchase price
Viewing
Strictly by appointment through this office.
EPC Rating
C
Rateable Value
The 2025 Rating List entry is Rateable Value £8,400
Price £280,000 Freehold
Ref I340
Location
The property is situated on the junction of Norham Terrace and Lumley Terrace, Jarrow, a well-established residential area within South Tyneside, Tyne & Wear. Jarrow lies approximately 6 miles east of Newcastle upon Tyne and 3 miles west of South Shields, benefiting from excellent local road links via the A19 and A194(M). The surrounding area is predominantly residential, providing a strong local catchment for convenience retail, with nearby amenities including schools, community facilities, and local bus services connecting to Jarrow town centre and the wider Tyneside area.
Description
The property comprises a semi-detached, single-storey retail unit with a converted loft, providing a net internal area of approximately 227.46 sq. M. (2,448 sq. Ft.).
The accommodation includes a spacious open-plan retail area, with ancillary accommodation and storage to the rear, and additional space within the converted loft. There is also a basement area, which was not inspected or measured at the time of reporting.
Constructed in 1933 of traditional red brick elevations beneath a pitched slate roof, the building presents in fair condition and occupies a prominent position within a well-established residential area.
The property is let to Morrisons Daily on a 10-year lease from November 2023, producing a current rent of £20,000 per annum, reflecting a net initial yield of approximately 7.14 %.
This offers a secure and attractive convenience retail investment, backed by a strong national covenant, and located in a densely populated catchment providing steady local footfall and repeat trade.
Tenant
Alliance Property Holdings Limited (No.00907499)
Lease Terms
10 years from 3rd November 2023 to and including 2nd November 2033. There is a tenant only break clause on 2nd November 2028 (by giving not less than 6 months’ notice) There is rent review on the 3rd November 2028 (see lease).
Rent
£20,000 per annum
Tenure
Freehold
Price
£280,000
Yield
Gross of 7.14 % on the purchase price
Viewing
Strictly by appointment through this office.
EPC Rating
C
Rateable Value
The 2025 Rating List entry is Rateable Value £8,400
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