5 Cattle Market, Hexham, Northumberland North, NE46 1NU
Size
4,494
Tenure
Ask agent
EPC
Ask agent
Parking
Ask agent
- Primary use
- High street retail
- Other use(s)
- Land, Traditional office
- Frontage
- Ask agent
No floor / site plan
Key features
- Freehold
- Ground floor retail space let to Specsavers Optical Superstores Limited
- 9.5 years to expiry (4.5 years to break) on Specsavers lease
- Low passing rent of £30,000 per annum
- Additional income of £3,500 from neighbouring occupier to allow uninterrupted fire escape egress onto car park
- Opportunity to capture significant reversion through letting of the refurbished upper offices (ERV £23,520 pa)
- Seeking offers over £425,000 exclusive of VAT
- This level shows a net initial yield of 9.50% after costs on the Specsavers and licence income when allocating a low £36psf capital value to the upper offices
- Potential to capture reversion to over 12.5% upon letting the upper offices
Description
Hexham is a historic and busy market town in Northumberland, with a mix of national and local retail occupiers in its thriving town centre.
Hexham town centre sits within one mile of the dualled portion of the A69 trunk road offering direct access to the A1 and Newcastle upon Tyne approximately 20 miles to the east and Carlisle and the M6 motorway 38 miles to the west.
The property is situated on Cattle Market in the busy retail core of Hexham's town centre to the north side of Priestpopple Street. The property is also adjacent to the pedestrianised Fore Street, the prime retail street in central Hexham, and therefore benefits from significant footfall.
The property is located close to Hexham's main bus station and a short walk from its train station with frequent daily trains east to Newcastle and west to Carlisle.
Hexham has been in a conservation area since 1973 and was last revised in 2009. This to protect the town's high quality historic environment.
Surrounding occupiers include HSBC Bank, Ladbrokes, Greggs, Superdrug, Caffé Nero, Mountain Warehouse, Boots and Costa.
Description
The property comprises a mid-terraced three storey building with brick elevations under a dual-pitched tiled roof.
The ground floor retail space is fully utilised by Specsavers and incorporates retail area, stores and staff amenity areas.
The two upper floors consist of vacant office space which have been divided into a number of individual suites and could therefore be utilised by either a single or multiple tenants.
The offices have been recently refurbished by the landlord with specification including LED lighting, electric heating, carpeting and kitchen/WC facilities.
To the rear of the property, with access from Eastgate, there are 4 car parking spaces which are allocated to Specsavers.
Tenure Comments
Freehold.
EPC
Ground Floor: C (63)
First Floor: D (92)
Second Floor: C (67)
Legal Costs
Each party to be responsible for their own legal costs incurred in this transaction.
- Service charge
- Ask agent
- Business rates
- Ask agent
- Use class
- Ask agent
- Listed building
- Ask agent
An Energy Performance certificate helps you understand the current energy efficiency of a property.
Read more about EPC requirementsAsk agent
- BREEAM rating
- Ask agent
- Environmental description
- Ask agent
Brochure
5 Cattle Market, Hexham, Northumberland North, NE46 1NU
About Naylors Gavin Black LLP, Newcastle Upon Tyne
We are Naylors - we bring Real Estate, Real Value - to the North East. We are the North East's largest independent commercial property consultancy based in Newcastle upon Tyne. We bring a fresh, dynamic approach to the property market striving to offer the best possible results for our clients.
With decades of market experience on our side, our advice is underpinned with a thorough understanding of the commercial property market from the inside out. Clients come to us for our knowledge and intuitive understanding of the region’s property sector, and we always deliver. Our solid reputation is built on the recommendation of happy clients.
You will find our straight forward, open and honest approach refreshing. Experts in our respective fields, we work together to provide a first-rate joined up service across all sectors and focus on building strong, lasting relationships with our clients. We are, above all, a people business – our client’s needs are of the first and utmost importance.
At Naylors we believe that people who are specialists give the best advice. That’s why our services are broken down into specific areas, with each service led by a senior Naylors expert. It’s this structure which allows us to offer a bespoke service providing solutions across all property types. Our services include Property investment, Industrial Agency, Office Agency, Building Consultancy, Asset & Facilities Management, Valuations & Lease Advisory, Rating and Development Consultancy.
We are regional market leaders poised for progressive growth, yet we are loyal to our roots. Based firmly in the North East, we are owned, managed and run from Newcastle, it’s our home, our passion and the place we know best.
Your search history
You have no recent searches
Disclaimer - Property reference 3365FH. 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 Naylors Gavin Black LLP, Newcastle Upon Tyne. 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.