2-4 Tynemouth Road, Howdon, Newcastle, NE28 0AA
- PROPERTY TYPE
Commercial Property
- SIZE
Ask agent
Key features
- To be offered on Wednesday 14 May
- High Yielding Mixed Use Investment
- Parade of Retail Units and Residential Upper Parts
- Fully Let to Four Tenants
- Asset Management Potential
- Prominent Corner Pitch
- VAT-Free Investment
- Investment Let at £18,890 p.a. (12.6% GIY on Guide Price)
Description
StrapLine
Auction Sale - 13/05/2025High Yielding, Multi-Let, Mixed Use Investment Occupying a Prominent Corner Pitch
Parade of Shops with Residential Upper Parts Fully Let to Four Tenants with Evident Asset Management Opportunities
Investment Let at £18,890 per annum
Description
The property comprises a high yielding mixed-use investment opportunity occupying a prominent corner pitch and offering a number of asset management opportunities.
Arranged as three retail units with a two bedroom flat to the upper parts, the property is fully let to four separate tenants and producing £18,890 per annum.
2A Tynemouth Road is let to Meat Premier Outlet Limited on a five year lease expiring 23.06.2026 and paying £4,940 per annum. The tenant did not exercise their 2024 break option displaying confidence in the location.
4 Tynemouth Road is let to a private individual trading as a Hairdresser on a recently signed five year lease expiring 09.05.2029 and paying £4,750 per annum.
2B Churchill Street is let to Funeral Partners Limited, a national business with over 280 funeral homes, on a 15 year lease expiring 15.05.2032 and paying £5,000 per annum.
4A Churchill Street comprises a two bedroom flat and has been let on a periodic tenancy to the same tenant for 30+ years. The AST allows for annual rent reviews and the current rent is £4,200 per annum.
The property occupies a prominent corner pitch on a high footfall street, the area comprises the principal retail amenity for Howdon with nearby tenants including Greggs, Heron Foods and Best One.
Tenancy
Please see the accommodation and tenancy schedule for more information.
2-4 Tynemouth Road, Howdon, Newcastle, NE28 0AA
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Howdon Metro Station0.4 miles
- Hadrian Road Metro Station0.4 miles
- Percy Main Metro Station1.0 miles
Notes
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Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Savills Auctions, London on 020 3909 6715.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”
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