£135,000
Property for saleWhitley Road, Whitley Bay NE26
Just added
Freehold
About this property
Tenanted Investment Sale
Rental income £9187.50 per annum
Entirely let to Boots Opticians
Five year term expiring 31 March 2030
Town Centre Location.
Location And Situation
The property is located in the centre of Whitley Bay which is a coastal town lying approximately 9 miles to the east of Newcastle city centre. The local road network connects to the A19 (Trunk Road) and A1058 (Coast Road) which provide good vehicular access to other parts of the Tyneside conurbation. The location provides residents and businesses with a broad range of local facilities and amenities which include Whitley Bay Metro Station that provides good public transport connections to Newcastle city centre and other parts of the region. The property is positioned on the east side of Whitley Road between the junctions of North Parade and Esplanade. This is a secondary retail area where occupiers cater for mainly local requirements as well as a degree of passing trade. Nearby occupiers include charity shops, licensed premises and hot food takeaways.
Description
The property comprises a three floor mid-terraced building of traditional construction thought to have been built in approximately 1900. Internally the property provides cellular accommodation to all floors. The ground floor is predominantly the main retail space with complimentary staff facilities. There are storage, kitchen and toilet facilities on the first floor together with additional stores extending into the second floor. The first and second floors are separate to the ground floor and do not appear to have been occupied for a number of years other than for records storage. The upper floors are in basic condition requiring significant updating. There is a yard to the rear.
Occupancy
The property was occupied at the date of our inspection by Boots Opticians, a national retailer at a rent of £9187.50 per annum for the entire property subject to a commercial lease for five years expiring 31 March 2030.
Accomodation
Ground Floor
53.1sqm (571sqft)
First Floor
49.4sqm (531sqft)
Second Floor
37.4sqm (402.5sqft)
Total Internal Area
140 sqm (1506.9sqft).
Tenure
Freehold.
Energy Performance Certificate
The EPC rating for the property is C. A full copy of the report is available upon request.
Price
Our Client is seeking £135,000 + VAT.
Rating Liability
According to the Valuation Office Agency (voa) website and the premises has a Rateable Value of:-
190 Whitley Road - £7,600 per annum
192 Whitley Road - £4,250 per annum
Vat
VAT is applicable on this property.
Money Laundering Regulations
In accordance with the Anti-Money Laundering Regulations the Purchaser will be required to provide two forms of identification and proof of the source of income.
Client Monies Protection Scheme
R A Jackson & Son llp is a proud member of the RICS. The RICS Client Money Protection for Residential Agents scheme has been approved by Government under the The Client Money Protection Schemes for Property Agents (Approval and Designation of Schemes) Regulations 2018. This means that RICS registered firms holding money in the areas covered by the regulations, will have met the requirements under The Client Money Protection Scheme for Property Agents Regulations (2018) to belong to an approved scheme. Further information
Property Redress Scheme
R A Jackson & Son llp are part of The Property Ombudsman. Membership number T01923.
The property is located in the centre of Whitley Bay which is a coastal town lying approximately 9 miles to the east of Newcastle city centre. The local road network connects to the A19 (Trunk Road) and A1058 (Coast Road) which provide good vehicular access to other parts of the Tyneside conurbation. The location provides residents and businesses with a broad range of local facilities and amenities which include Whitley Bay Metro Station that provides good public transport connections to Newcastle city centre and other parts of the region. The property is positioned on the east side of Whitley Road between the junctions of North Parade and Esplanade. This is a secondary retail area where occupiers cater for mainly local requirements as well as a degree of passing trade. Nearby occupiers include charity shops, licensed premises and hot food takeaways.
Description
The property comprises a three floor mid-terraced building of traditional construction thought to have been built in approximately 1900. Internally the property provides cellular accommodation to all floors. The ground floor is predominantly the main retail space with complimentary staff facilities. There are storage, kitchen and toilet facilities on the first floor together with additional stores extending into the second floor. The first and second floors are separate to the ground floor and do not appear to have been occupied for a number of years other than for records storage. The upper floors are in basic condition requiring significant updating. There is a yard to the rear.
Occupancy
The property was occupied at the date of our inspection by Boots Opticians, a national retailer at a rent of £9187.50 per annum for the entire property subject to a commercial lease for five years expiring 31 March 2030.
Accomodation
Ground Floor
53.1sqm (571sqft)
First Floor
49.4sqm (531sqft)
Second Floor
37.4sqm (402.5sqft)
Total Internal Area
140 sqm (1506.9sqft).
Tenure
Freehold.
Energy Performance Certificate
The EPC rating for the property is C. A full copy of the report is available upon request.
Price
Our Client is seeking £135,000 + VAT.
Rating Liability
According to the Valuation Office Agency (voa) website and the premises has a Rateable Value of:-
190 Whitley Road - £7,600 per annum
192 Whitley Road - £4,250 per annum
Vat
VAT is applicable on this property.
Money Laundering Regulations
In accordance with the Anti-Money Laundering Regulations the Purchaser will be required to provide two forms of identification and proof of the source of income.
Client Monies Protection Scheme
R A Jackson & Son llp is a proud member of the RICS. The RICS Client Money Protection for Residential Agents scheme has been approved by Government under the The Client Money Protection Schemes for Property Agents (Approval and Designation of Schemes) Regulations 2018. This means that RICS registered firms holding money in the areas covered by the regulations, will have met the requirements under The Client Money Protection Scheme for Property Agents Regulations (2018) to belong to an approved scheme. Further information
Property Redress Scheme
R A Jackson & Son llp are part of The Property Ombudsman. Membership number T01923.
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Monthly repayment
£675 per month
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