The property comprises two buildings; No 10 is a self- contained, ground floor workshop with office space & rear yard. No 8 comprises a much larger workshop / storage facility with mezzanine and office at first floor level. There is also parking for approximately 4 cars to the front of the building
Fully let 34 double bedrooms producing £148,070 pa increasing to 38 bedrooms and £179,660 pa by September 2021, following completion of further 4x-1 bedroom garden flats.
Newcastle is home to two leading universities; the University of Newcastle & Northumbria University, both of which have city centre campuses.
Offers in excess of £2,400,000 are invited for the freehold interest of the property. A sale at this level reflects a yield of 7.04% assuming standard purchasers costs of 6.36% and only £63,158 per bed space.
Unit 1 is let to private individuals on a 10 year lease ending 2 March 2027 at a rent of £25,000 per annum with rent reviews on 3 March 2021 and 3 March 2025.
Unit 2 is let to Pineapple and Bears Ltd on a 10 year lease from 12 Feb 2019 with a personal guarantee limited to the 11 February 2023. The annual rent is currently £25,000 per annum increasing to £32,000 per annum from 12 February 2022 and increasing further to £38,000 per annum on 12 February 2027. There are tenant breaks on 12 February 2023 and 12 February 2027 subject to 6 months’ notice.
Unit 3 is let to two private individuals at a rent of £15,000 per annum for a term of years ending on 2 March 2027. There are rent reviews on 17 May 2022 and 17 May 2026.
The total passing rent is therefore currently £65,000 per annum increasing to £72,000 per annum from 12 February 2022 and £78,000 per annum from 12 February 2027.
Offers in excess of £770,000 are invited for our client’s freehold interest reflecting a net initial yield of 8.01% increasing to 8.87% in February 2022 and 9.61% in February 2027. The vendor will top the rent up £72,000 pa to provide a NIY of 8.87% from completion of the sale.
The property is fully let to MIND Charity and a private individual trading as a ladies fashion retailer at a combined rent of £27,000 per annum.
Offers in excess of £220,000 are invited for the freehold interest reflecting a net initial yield of 11.98% assuming standard purchasers’ costs of 2.44%.
The site encompasses approximately 16 acres providing an American Golf Discount Centre, Sunderland Golf Driving Range, a first floor office, a residential flat and a Mitchells and Butlers Public House. The driving range comprises 42 undercover, floodlit, driving range bays with chipping targets and greens. There is also a large car park.
Entirely let to four tenants including American Golf (Trading) Limited at a combined rental of £81,400 per annum.
North Tyneside Vets for Pets Ltd have a 15 year lease from 4 July 2010 ending on 4 July 2025 at a passing rent of £25,000 per annum. Part of the building is let to Little Learners Childcare (NE) Ltd with personal guarantees from two private individuals for a term of years commencing 7 May 2019 ending on 31 January 2033 at a rent of £20,000 per annum. The tenant has the option to terminate the lease on 31 January 2028.
The total passing rent is therefore £45,000 per annum.
We are instructed to seek offers in excess of £625,000 for our clients’ freehold interest reflecting a net initial yield of 6.85% assuming purchasers’ costs of 5.12%.
The property is entirely let to Lloyds Pharmacy Limited on a 20 year lease from and including 31 March 2015 at the initial rent of £27,771 per annum. There are tenant break dates on 30 March 2025 and 30 March 2030 and there are rent reviews on 31 March 2025 and 31 March 2020.
The tenant is also permitted to terminate the lease at any time by serving written notice on the landlord if the GP’s surgery at 19 Albion Road, North Shields ceases to operate as a GPs surgery.
The tenant may also end this lease by serving not less than 3 months written notice on the landlord if at any time the number of registered patients at the Priory Medical Group at 19 Albion Road, North Shields falls below 6,250 patients.
We are instructed to seek offers in excess of £350,000 for our clients freehold interest, reflecting a net initial yield of 7.64% assuming purchasers costs of 3.80%
The property has been under local family ownership for a number of years and is well maintained, having recently been refurbished including new windows and roof covering
The property is in a very prominent town centre location on the corner of Whitley Road & South Parade
The ground floor is entirely let to six tenants
There are six very spacious flats over the upper floors
Four of the flats have been newly refurbished
Nearby occupiers include Halifax, Subway, William Hill, Greggs, among other national and regional retailers
Seeking offers in the region of £1,100,000
This is a multi-purpose city centre space suitable for a variety of uses
With a floor area of approximately 16,275 sq ft split into a number of distinctive sections including two former church halls with ceiling heights in excess of 10m and a very large three bedroom flat
The property is located on the campus of Northumbria University sharing a green / courtyard with The Wynne Jones Building (lecture theatres), Picton Manor (student accommodation, restaurant & offices) and MEA House (office accommodation)
It is centrally located in Newcastle upon Tyne, just off the Central Motorway (A167) with a car park immediately to the rear on Ellison Place for 119 cars
Only a short walk from Northumberland Street, Newcastle’s prime retail pitch as well as Manors and Haymarket Metro stations
The property is Grade II Listed
Our client is seeking JV Partners or may consider an outright sale
Ripon is an attractive cathedral market town located approximately 31 miles north of Leeds, 12 miles north of Harrogate and 27 miles west of York. Athelstan Court is located on the College Business Park which lies approximately 0.6 miles north west of Ripon town centre.
The building has a total net internal floor area of approximately 11,890 sq ft. There are also 70 dedicated car parking spaces. Total site area 1.87 acres (0.76 ha). Floor plans are available on request.
Considerable exploration has been done by the current owner regarding the ground conditions in the undeveloped land and this can made available to those with a serious interest in the site. Subject to prior approval being sought, we understand that temporary permitted development rights currently apply in respect of the office building and change of use of premises from a B1(a) office use to C3 residential use currently applies. Interested parties are urged to make their own enquiries in this regard. We are also expecting planning permission to be granted on the land to the north of the building for 8 units
Durham is one of the world’s leading Universities boasting a ranking of 78 in the QS World University Rankings 2020. In addition to a Top 100 World University status, Durham is also a major tourist attraction. The city accommodates several World Heritage Sites including Durham Cathedral and also benefits from its excellent leisure, retail and nightlife offer making it a prime student destination.
Comprising a site area of approximately 0.28 acres with planning permission for the construction of an apartment block including 27 one and two bedroom apartments totalling 43 bed spaces
The property is very centrally located on St James Street in the centre of Newcastle upon Tyne.
Comprising 28 bedrooms across 4 flats, which were developed and fully refurbished in 2017. The property is fully let producing a total combined gross rental income of £171,766 per annum
The rent for the academic year 2019/2020 was approximately 8.3% higher than achieved in 2018/2019 demonstrating the increasing demand for the building.
We are instructed to seek offers in excess of £2,300,000 (Two Million Three Hundred Thousand Pounds) for our client’s freehold interest. £2.30m represents a gross yield of 7.02% assuming purchasers costs of 6.34%. Alternatively, 9, 11 and 13 St James’ Street can be purchased individually.
The whole property is let to Martin McColl Limited for a term of 16.5 years from the 20th November 2019 on FRI terms and subject to fixed uplifts at 2% per annum compounded throughout. The passing rent is £28,329 per annum.
For the year ending 25th November 2018 the tenant reported a turnover of £835 million, pre-tax profit of £34 million and shareholder’s funds of £218 million.
Seeking offers in excess of £420,000 for the freehold interest. A sale at this level reflects a net initial yield of 6.47% allowing for purchasers costs of 4.30%.
City Centre Student Residential Investment entirely let to Newcastle University until September 2019
Comprising 56 bedrooms, including 8 studio apartments
Located in the heart of Newcastle City Centre very close to both Newcastle and Northumbria Universities
Situated in a vibrant city centre location close to Eldon Square Shopping Centre, China Town and The Gate providing an excellent mix of bars and restaurants
Rental income of £309,046.70 per annum with a projected income of £349,350 for academic year 2019/2020.
Four dental practices entirely let to Whitecross Dental Care Limited
Whitecross Dental Care Limited last reported £218,090,000 turnover and pre-tax profits of £1,400,000
Experian Credit Risk Score: “Very Low Risk”
Total combined rental income of £74,500 per annum
Seeking offers in excess of £975,000 reflecting a net initial yield of 7.24%
High Street Retail Investment For Sale
Situated between Costa Coffee and Co-op Supermarket, the property is ideally located in North Shields town centre in 100% prime pedestrianised section of Bedford Street, opposite the entrance to The Beacon Shopping Centre and 0.1 miles from North Shields Metro Station.
The property is entirely let to Iceland Foods Limited until 12th September 2022 at £66,500 per annum on full repairing and insuring terms. Iceland last reported a total turnover of £2,770,500,000 in March 2017.
Mixed Use Investment Opportunity For Sale
Situated in an attractive coastal location in Whitley Bay, close to the newly refurbished Spanish City
The ground floor is let to Boots and Relish Coffee Shop at a combined rent of £17,600 per annum
There is a very large newly refurbished 3 bedroom apartment on the upper floors generating a further £8,100 per annum
Total combined rent of £25,700 per annum
Unique Residential Investment on Northumbria University City Centre Campus.
Situated on the campus of Northumbria University, next to The Wynne Jones Building & The School of The Built Environment.
There are 11 flats comprising a total of 46 bedrooms, 15 shower rooms and 7 bathrooms. The commercial units on the lower ground floor include letting agency, an office and a coffee shop. There are 9 car parking spaces, 6 of which are fully let on license agreements.
Seeking offers in excess of £5.3m
Unit A let to Restore PLC at £40,000 pa until 2023
Restore PLC reported total turnover in excess of £176m
Total floor area of approximately 21,062 sq ft
Opportunity to add value by letting Unit B (ERV £32,000 pa)
Offers in excess of £730,000 reflecting a low capital value of
only £34.66 psf
The property consists of a purpose built, modern, single storey convenience store with 12 shared car parking spaces to the front & side with side loading.
The store extends to 3,243 sq ft (301 sq metres) GIA and is laid out as a modern convenience store with storage to the rear.
The property is let to The Co-operative Group Food Limited for a term of 20 years from 17 April 2014 on full repairing and insuring terms, expiring 16 April 2034 at a rental of £45,500 per annum. The rent increase is based on RPI with a collar of 1% and a cap of 4%.
Offers in excess of £775,000 are invited for the freehold interest of the property. A sale at this level reflects a net initial yield of 6.27% allowing for purchasers costs of 5.40%
Let to Done Brothers (Cash Betting) Limited (t/a Betfred) on a 15 year lease from 7th August 2013
Well based passing rent of £12,000 per annum
Betfred have a turnover of £320,000,000 and profits in excess of £20,000,000
Offers over £160,000 reflecting a net initial yield of 7.36%.
The Property comprises four fully refurbished Grade II Listed Georgian terrace properties. The Property has been sensitively refurbished to comply with Listed Building Consent and provides twelve self-contained apartments with 43 bedrooms.
The property is located a short walk from the new Science Central development as well as Newcastle University’s state of the art Business School on Barrack Road. The property is also very close to the RVI Hospital, Eldon Square Shopping Centre, China Town and The Gate.
We are instructed to seek offers in excess of £4,000,000 for our client’s freehold interest, subject to contract and exclusive of VAT.
Entirely Let to Undoubted Covenant with £433m Turnover. The property comprises a two storey terraced building which is currently occupied as Specsavers and fit out an opticians
The entire property is let to Specsavers Optical Superstores Limited at £18,000 per annum on an unbroken 10 year lease on FRI terms with effect from 25th December 2012, therefore ending on 24th December 2022. The lease benefits from 5 yearly upwards only rent review pattern
We are instructed to seek offers in excess of £195,000 reflecting a net initial yield of approximately 9.02% assuming purchasers costs of 2.26%
Extensively refurbished in 2008/2009 both internally and externally and arranged to provide seven retail and office premises plus secure parking for up to 4 cars within a gated rear yard
The property is prominently position on Newgate Street, close to Morpeth Town Centre, The Sanderson Arcade and Market Place
Other nearby occupiers on Newgate Street include Age UK, Lloyds Bank, Barnados, Subway and Boots, among other national and regional occupiers. Total rent of £61,650 per annum.
Seeking offers in excess of £650,000 reflecting a net initial yield of 9.02%
Multi let office investment occupied by four tenants
With significant potential for residential development with parking for 17 cars.
The total passing rent of £36,315 per annum which increases to £36,815 per annum in June 2017.
WAULT to lease end is 7.84 years (2.33 years to breaks).
Seeking offers in excess of £450,000 reflecting a capital value of £76 psf
Mixed use investment in an expanding Northumberland location
Comprising 10 retail units, a dance studio, 2 garages and 4 flats
Income of £62,610 per annum with 23% secured by The Co-operative Food Group
Seeking offers in excess of £500,000 reflecting a net initial yield of 11.96%
The property comprises a two-storey office building fully let to 3 tenants producing a total combined rent of £37,150 pa
Team Valley is recognised as one of Tyneside’s most strategic office locations on one of the country’s largest business parks and is home to over 700 businesses employing over 20,000 people
There may be add-value opportunities at lease renewal as well as an opportunity to create further office accommodation on the first floor, subject to planning. Scale drawn plans and 3D imagery of a proposed extension are available on request.
We are instructed to seek offers in excess of £500,000 for our client’s long-leasehold interest, subject to contract and exclusive of VAT.
Family owned pharmacy portfolio comprising 8 properties for sale with opportunities to add value
54.06% of the total income secured to Lloyds Pharmacy Limited t/a Lloyds Pharmacy and National Co-operative Chemists Limited
Total combined passing rent of £125,010 per annum, with potential to increase to approx. £134,060 per annum once Eastbourne Gardens is fully let
Seeking offers in excess of £1,200,000 reflecting a net initial yield of approximately 9.83%
Stand-alone retail warehouse and large car park with approx 190 spaces
FRI lease to B&M Retail Ltd at a rent of £288,000 pa (£7.09 per sq ft)
Unbroken 15 year lease with 5 yearly upwards only rent reviews linked to RPI, capped and collared between 4% and 1%
Seeking offers in excess of £4,000,000 reflecting a net initial yield of 6.76%
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