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Retail property (high street) for sale

Newgate Street, Morpeth, Northumberland, NE61 1DA
Auction
Retail property (high street)
4914
Added > 14 days

Features and description

  • Commercial investment portfolio
  • 4x commercial retail/office units
  • 2x units currently tenanted
  • Generating £26,000 per annum
  • Desirable town centre location
  • To be sold freehold (please refer to legal pack)

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Substantial Commercial Portfolio – Newgate Street, Morpeth Town Centre

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.

Rooms

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

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).

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About this agent

Pattinson - Commercial
Pattinson - Commercial
2 Hill Street, Gateshead Tyne and Wear NE8 2AS
0191 392 0913
Full profileProperty listings
Pattinson Estate Agency is an award-winning family-run business that was Launched in 1977 on Independence Day. This is no coincidence, as independence is central to our company ethos. We are the most recognised estate agency in the North East, and in that time we have grown from 1 office to 28, with 300 members of staff, and we officially sell more properties in the North East, than any other estate agency. However, we don’t just sell houses! Our many property services include sales, lettings (property management), auction, commercial, financial services, conveyance and surveys, and we have it all under one roof! We can be contacted 6 days a week at extended hours, as we have a dedicated Regional Team who take the overspill calls from our 28 branches, so all client relationships are built and maintained. At Pattinsons, we are innovative leaders in the property industry, with pro-active selling, a reliable reputation, and substantial repeat business. Our national secure sale department, ‘Pattinson Auction’, was launched 33 years ago, and is going from strength to strength. As serious players in the field of digital marketing, we successfully utilise the social media platforms TikTok, Facebook and Instagram as part of our extensive marketing process. We have a wealth of knowledge and an expansive network to help find the best solution for you and your property requirements. You can trust Pattinsons, the North East’s leading estate agency.
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