Commercial Property for sale57-59 Bondgate Within, Alnwick, Northumberland
Prime Investment Opportunity
•Two Adjoining Retail Premises with Ancillary to Upper Floor
•Prominent Location within Popular Market Town •Fully Occupied By Well Established Businesses •Passing Rent £19,800 per annum •Future Rental Growth Opportunities
Alnwick is a historic and affluent market town set within Northumberland. It is approximately 36 miles north of Newcastle Upon Tyne and easily accessed via the A1. Alnmouth train station is located 4 miles to the south-east.
The town is popular with both visitors and locals. Tourist attractions include Alnwick Castle, The Alnwick Garden, Alnwick Playhouse, Barter Books and Bailiffgate Museum. Alnwick Market Day takes place every Friday and Saturday.
The Premises is situated in a prominent position on Bondgate Within; the town’s main high street which offers a wide range of retail and leisure amenities. Nearby occupiers include Boots, Dorothy Perkins and Greggs.
Schedule of Accommodation
Unit 57 32 m²
Unit 57 upper 51 m²
Unit 59 59 m²
The current income is £19,250/annum and this rises to £19.800/annum through fixed increases in the 2 leases. The yield on the current rent is 7.72% and the reversionary yield is 7.94%. Full details of the leases are as follows:
Unit 57/57A is fully let to Simply Flowers. A new FRI lease was entered into for a term of 10 years on 1 April 2015. This generates a passing rent of £11,250/annum rising to £11,500/annum on 1 April 2019. The lease is subject to an upward only rent review and a tenant only break on 31 March 2020.
Unit 59 is fully let to The Beauty Box. A new FRI lease was entered into for a term of 9 years from 1 May 2018. This generates a passing rent of £8,000/annum rising to £8,150/annum on 1 November 2019 and £8,300/annum on
1 November 2020. The lease is subject to 3 yearly upward only rent reviews due on 1 May 2021 and 1 May 2024.
The Property is of freehold possession under Title Number ND62653.
Property ref: 121_1599_4660294
Map & Street View
Street View is unavailable in this location
Disclaimer - Property reference 4660294. 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 George F.White, Alnwick. 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.
* Average speeds are based on the download speeds of at least 50% of customers at peak time (8pm to 10pm) from packages available on comparethemarket.com. Speed can be affected by a range of technical and environmental factors. The speed you receive where you live may be lower than that listed above. You can check the estimated speed to your property prior to purchasing. Fibre/cable services at your postcode are subject to availability. You can confirm availability on the provider's website. Providers may increase charges. You should have the right to exit your contract without penalty if this happens. The information is provided and maintained by Decision Technologies Limited.
Map data ©OpenStreetMap contributors.