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Retail Property (high street) for sale

587-591 Westgate Road

POA

Property Description

Key features

  • Mixed use investment for sale
  • Development potential
  • Petrol filling station with main road frontage
  • 4 private apartments
  • 21 garage and storage units
  • Freehold price on application

Full description

SITUATIONThe subject properties are located on Westgate Road in Newcastle upon Tyne. The petrol station fronts onto Westage Road and the apartments and storage units are easily accessed to the right of the petrol station via a private acess road.Westgate Road is a prominent main arterial route from the A1(M)/A69 to Newcastle upon Tyne city centre. The road is occupied by a mixture of commercial occupiers, including Kwik Fit, Subway, Fardows, Barclays Bank and Ayran News, as well as established residential stock.The property is 2 miles west of Newcastle upon Tyne city centre with direct access via Westgate Road as well as there being a number of bus routes within the vicinity. The A1(M) is 2 miles to the east which provides access to the north and south of the country.DESCRIPTIONThe investment comprises of approximately 0.76 acres of mixed use properties including petrol filling station, residential flats and storage/garage units.Murco Petrol StationThe above property comprises a petrol filling station with convenience store and jet wash facilities.Residential Flats There are four flats comprising of 1 or 2 bedrooms.Garage/Storage UnitsThere are 21 single garage units, 2 lock ups, a small warehouse and a large warehouse.TENANCIESSTORAGE UNITS21 x single car garages 18ft x 16ft 6 inches each £50 pcm each/£600 per annum Rolling monthlyLock up number 1 42.4m² £135 pcm/£1,620 per annum Rolling monthlyLock up number 2 46m² £155 pcm/£1,860 per annum Rolling monthlyLarger warehouse 148.6m² £450 pcm/£5,400 per annum Rolling monthlySmaller warehouse 90m² £300 pcm/£3,600 per annum Rolling monthlyAll of the above pay annually in advanceRESIDENTIAL APARTMENTSGround Floor Flat 2 bedrooms £600 pcm/£7,200 per annum 6 month ASTStudio Flat 1 Studio with private bathroom £330 pcm/£3,960 per annum 6 month ASTFlat 2 2 bedrooms £530 pcm/£6,360 per annum 6 month ASTFlat 3 (Top Floor) 2 bedrooms £580 pcm/£6,960 per annum 6 month ASTPetrol Filling StationPetrol Station £25,000 per annum 5 yearly rent reviewsAnnual Passing Rent £74,560 per annumTERMSThe properties are available freehold and the price is available on application.EPC RATINGSThe properties are currently awaiting EPC Ratings.LEGAL COSTSEach party is to bear their own legal costs involved in the transaction.VATAll rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT.VIEWINGFor general enquiries and viewing arrangements please contact sole agents Bradley Hall Chartered Surveyors.Tim Aisbitt BSc (Hons) MRICSTim.aisbitt@bradleyhall.co.uk 0191 232 8080


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