Retail property (high street) for sale
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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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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