1 Westgate, Haltwhistle, Northumberland, NE49

Investment Consideration:
Gross Initial Yield: 8.73%
Rental Income: £4,800 p.a.
VAT is NOT applicable to this property
Comprises corner ground floor retail shop t/a Hair & Beauty Salon
Tenant break option in March 2025 NOT exercised
Nearby occupiers include Boots and Co-op Food, amongst many more.

Property Description:
Comprises corner ground floor retail shop t/a Hair & Beauty Salon, providing the following accommodation and dimensions:
Ground Floor: 52 sq m (560 sq ft)
Open plan retail, storage, office, wc

Tenancy:
The property is at present let to an Individual for a term of 10 Years from 28th February 2019 at a current rent of £4,800 p.a. and the lease contains full repairing and insuring covenants. Tenant break option in March 2025 NOT exercised.

Tenure:
Virtual Freehold. To be held on a 999 Year lease from completion at a ground rent of peppercorn.

Location:
Haltwhistle is an attractive town situated on the A69 trunk road between Carlisle (21 miles) and Newcastle-upon-Tyne (36 miles). The town benefits from a railway station and is on the Carlisle to Newcastle line. The town is popular with tourists principally due to the close proximity to Hadrian’s Wall and the Pennine Way, which runs through the town. The property is situated in a prominent corner position on Westgate, which is the town’s main shopping street, at its junction with Aesica Road. Occupiers close by include Boots, Save the Children, Co-op Supermarket and the library with adjacent public car park.