Units 1 - 3, Essendene Retail, Newbiggin Road, North Seaton, Ashington, Northumberland, NE63

Offers in excess of £2250000.00

• Located in Ashington, Northumberland with existing population of 28,000 (c2021) and wider County population of 319,000 (c2021)
• Within a densely populated residential location, close to nearby schools, Ashington town centre, leisure centre, football club and Wansbeck General Hospital
• The property comprises a new build retail parade with 45 car parking spaces, of which 8 are under offer to Osprey Charging Network
• The building is prominently positioned on a busy main road alongside a new build housing estate of 259 units developed by Bellway
• The property is split into three units and entirely let to undoubted covenants of Co-op, Montane, Cooplands and under offer to Osprey Charging Network
• Total income of £142,360 per annum
• WAULT of 8.95 years to breaks and 12.26 years to lease ends
• Index linked rent reviews on over 62% of the income
• Over 47% of the annual income is from Co-operative Group Food Limited with lease expiry in 2036 (without breaks)

We are instructed to seek offers in excess of £2,250,000 (exclusive of VAT), reflecting a net initial yield of 5.95% and a reversionary yield of 6.40%* assuming standard purchasers costs of 6.33%.

Northumberland is a county in North East England, bordering Scotland, with a population of just over 319,000 people. Northumberland is known for its beautiful countryside, including the Northumberland National Park, as well as its historic castles and villages. The county is also home to a number of beaches, including Bamburgh Beach and Embleton Beach, as well as picturesque villages, such as Seahouses, Amble, and Morpeth.

The property is located south of Ashington Town Centre, close to a number of amenities, including shops, restaurants, and green open spaces. The property is also within walking distance of the town centre, Ashington Leisure Centre and Bus Station, providing ease of access to Newcastle city centre and other cities in the UK

There are a number of landmarks nearby, including the Jack Charlton Statue, Woodhorn Colliery, and Hunkleton Stone. The Queen Elizabeth II Country Park is also within easy reach.

Ashington has a strong range of schools, catering for children of all ages including Ashington Academy, comprehensive school as well as a number of primary schools, including Ashington Hirst First School, and Newbiggin Middle School. Wansbeck General Hospital and Ashington Community Football Club are also nearby.