Retail property (high street) for sale

Rooms

Location
The property is situated in the densely populated Windy Nook area of Gateshead, surrounded by residential housing, making it an ideal location for a wide range of retail or service-based businesses. Directly opposite is a busy convenience store, helping to generate excellent levels of footfall. The property sits in a highly visible position at the top of the bank from Felling, ensuring excellent exposure to passing traffic and accessibility for local customers. Close to the Queen Elizabeth Hospital, local bar, restaurants, and other amenities – all of which support a steady flow of potential clientele.

Accommodation
Accommodation Ground Floor (Retail Premises – Previously Used as Retail) Large retail area with display window and customer entrance. Second office room/storage area. Kitchenette. Cloakroom WC. Access to rear yard. First Floor (Residential Flat) Private entrance to a spacious three-bedroom flat. Two generous double bedrooms and one single bedroom. Lounge. Fitted kitchen. Family bathroom and separate WC. External Good sized garage with development potential (subject to consents). Rear yard area.

Transport & Amenities
Schools, doctors’ surgeries, and leisure facilities all within close proximity. Good public transport links with nearby bus routes providing easy access to Gateshead and Newcastle. The A1 motorway is just a short drive away, offering excellent connectivity across the region. The Metrocentre and Newcastle City Centre are both within easy reach, adding to the property’s appeal for both retail and residential use.

Investment Potential
This property presents a fantastic investment opportunity with dual income streams possible from both the ground floor retail unit and the first floor residential flat. Anticipated rental income: £18,000 per annum (shop advertised for £10,800 pa and first floor flat £7.2kpa) Expected ROI: 10%+ The large garage and rear yard also provide scope for further development, subject to planning. With its excellent location, strong local demand, and easy access to major transport routes, this property is ideal as a buy-to-let investment, owner-occupier business premises, or mixed-use redevelopment project.

Tenure
Freehold.

EPC
1 Church Row (Commercial) - Available upon request (rating C). 1a Church Row (Flat) - Available upon request (rating D).

Auctioneers Additional Comments
Pattinson Auction are referred to below as The Auctioneer. This auction lot is being sold under either conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between any marketing agent and The Auctioneer so that all matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid on any property marketed by The Auctioneer, all bidders buyers must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere. Our verification process is in place to ensure AML procedures are carried out in accordance with the law

Auctioneers Additional Comments
The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and the auctioneer and will typically be within a range above or below 10% of the Guide Price , Starting Bid. These prices are subject to change. An auction can be closed at any time with the auctioneer permitting for the property (the lot) to be sold prior to the end of the auction. A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers obligations and sellers commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts, the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (Subject to a minimum fee which could be up to 7,200 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and the Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.