Get brand editions for Walton Robinson Limited, Newcastle Upon Tyne

17 bedroom mixed use for sale

High Street, Felling, NE10

£260,000

Property Description

Key features

  • DEVELOPMENT OPPORTUNITY
  • Commercial Property
  • 12,000pa Current Income
  • Vacant Upper Floor
  • Consent for 6 Apartments
  • 5 Additional Units Possible
  • 72,000pa Projected Rent
  • Regeneration Area
  • Freehold
  • Opted to tax for VAT

Full description

MIXED USE DEVELOPMENT OPPORTUNITY, well positioned in an area undergoing significant improvement. The property offers the right purchaser scope to CONVERT the unoccupied portion of the ground floor as well as the first, and potentially a second floor (subject to additional planning consent) using a mansard-style extension, to create 11 APARTMENT of one and two bedrooms.

High Street, Felling - The property, which is predominantly a brick built building over two storeys with a flat roof, is situated to the upper end of the High Street towards Split Crow Road, with the neighbouring property forming the end of the parade. The property extends straight back from the frontage which is east-facing, and wraps around the rear of the adjacent (end) building, providing a stair well and lift shaft to the upper floor. The ground floor, which is occupied in part from its entrance on to the street, has a glazed frontage, and also glazed units to the side and rear elevations. Similarly the first floor has four windows to the front elevation, with various compartmented rooms, and a number of windows to the side and rear elevations. (Title TY223034)

Development Opportunity - William Hill plc currently hold a 20 year lease on part of the ground floor of the property (the front 158 sq.m/ 1,700 sq.ft) from January 2010, with a 10 year break clause, at a rate of £12,000 per annum. The remaining 164 sq.m (1,766 sq.ft) of the ground floor and 333 sq.m (3,585 sq.ft) on the first floor has consent for conversion to 6 two bedroom apartments. There is further scope to add, subject to planning consent, a Mansard-style roof extension to the top of the building to accommodate a further 5 one bedroom apartments. A development of this nature could secure an additional £60,000 per annum in residential rental income, based on £500 per calendar month per two bedroom unit, and £400 per calendar month for the one bedroom units.

Location - Felling High Street is situated in the centre of Felling, and is the principle economic centre of the town. The immediate area is now scheduled for regeneration, with the construction of a new shopping complex underway which will accommodate an ASDA supermarket, Boots the Chemist, Lloyds Bank and Greggs bakery, and create an estimated 120 new jobs by 2017, making favourable conditions for investment in the area. The town of Felling lies on the B1426 Sunderland Road and A184 Felling bypass, providing good road links around the region. Access to the Tyne and Wear Metro system is provided by stations at Felling and Gateshead Stadium. The area has an abundance of parks and leisure facilities, most notably Felling Park, which surrounds the Town Hall buildings and offers a childrens play park, tennis courts and Bowling Green, as well as Gateshead International Stadium, offering sporting and educational facilities. The area is well stocked with local primary schools. The town lies 1 mile east of Gateshead, and 1 mile south east of Newcastle. Sunderland is 10 miles to the south east

Agents Note - *We are instructed to secure a purchaser for the Freehold interest of the subject property at a price of £285,000 excluding VAT. We are advised that the building is opted to tax for VAT*

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More information from this agent

Nearest stations

  • Felling (0.3 mi)
  • Heworth (0.6 mi)
  • Pelaw (1.2 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Walton Robinson Limited, Newcastle Upon Tyne

101 Percy Street, Newcastle Upon Tyne, NE1 7RY

0191 687 0577 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Floorplans


To view this property or request more details, contact:

Walton Robinson Limited, Newcastle Upon Tyne

101 Percy Street, Newcastle Upon Tyne, NE1 7RY

0191 687 0577 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Felling (0.3 mi)
  • Heworth (0.6 mi)
  • Pelaw (1.2 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Walton Robinson Limited, Newcastle Upon Tyne

101 Percy Street, Newcastle Upon Tyne, NE1 7RY

0191 687 0577 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 25696613. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Walton Robinson Limited, Newcastle Upon Tyne. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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