Newgate Street, Morpeth, Northumberland, NE61 1DA
- PROPERTY TYPE
Retail Property (high street)
- SIZE
4,914 sq ft
457 sq m
Key features
- Commercial investment portfolio
- 4x commercial retail/office units
- 1x unit currently tenanted
- Generating £13,000 (approx) per annum
- Desirable town centre location
- To be sold freehold
Description
We are delighted to offer to auction this substantial and well-located commercial portfolio, prominently positioned on the popular Newgate Street in the heart of Morpeth town centre.
The portfolio comprises four commercial units, including: A vacant retail unit ? offering excellent potential for owner-occupiers or investors. A tenanted café ? providing immediate rental income. A former florist shop ? suitable for a variety of uses, subject to necessary consents. Upper floor office accommodation ? ideal for refurbishment or conversion.
The tenanted element of the portfolio currently generate a rental income of approximately £13,500 per annum, offering a strong return with significant scope for increased yields through letting or redevelopment of the vacant parts.
This is a rare opportunity to acquire a prominent, mixed-use investment in a thriving market town location, with excellent footfall and long-term asset management potential.
Key Features:
Prime town centre location
Four units with mixed-use potential
Immediate rental income with further development potential
Suitable for investors or developers
For more information, please call the Morpeth office.
Location
The subject property is located along Newgate Street, Morpeth. It is a short walk away from Morpeth town centre where you'll find local shops, restaurants and all other amenities. The property is right next to the River Wansbeck where you can go for scenic walks.
Rateable Value
The adopted rateable values are as follows (sourced from VOA).
50 Newgate Street: £5,200
52 Newgate Street: £10,500
54 Newgate Street: £10,500
First/second floors, 54 Newgate Street: £6,400
Tenure
Currently pending first application
Additional Information
For further information please contact our office direct on , or alternatively via e-mail on . With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.
EPC
All available upon request (ratings C, D, C, E).
Accommodation
50 Newgate Street
Ground, first and second floor retail/showroom space measuring 152.80sqm (1,645sqft).
52 Newgate Street
Ground floor cafe premises measuring 107.05sqm (1,152sqft)
54 Newgate Street
Ground floor retail accommodation measuring 118.70sqm (1,278sqft)
54a Newgate Street
First and second floor office accommodation measuring 77.90sqm (839sqft).
Brochures
BrochureNewgate Street, Morpeth, Northumberland, NE61 1DA
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Morpeth Station0.8 miles
- Pegswood Station2.1 miles
- Ashington Station4.9 miles
Notes
Disclaimer - Property reference 446441. 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 Pattinson Estate Agents, Morpeth. 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.
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 Pattinson Estate Agents, Morpeth on 01670 332518.
*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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