Properties

Tenure

Location

Investment

31-33 Brenkley Way, Blezard Business Park, Seaton Burn, Newcastle, NE13 6DS

Business Park Offices let to Baldwins Holdings Limited who last reported a turnover in excess of £22m.

The property is let to Baldwins Holdings Ltd on a new 10 year lease with 5 year break at £30,000 per annum. The lease start date is 2 May 2019 and is held on full repairing terms. It has been agreed between the parties that the tenant will self-insure the building. The lease is subject to a photographic schedule of condition. There will be an upwards only rent review in May 2024.

The tenant has also taken a lease at 34 Brenkley Way, Blezard Business Park (not under the vendor’s ownership) therefore demonstrating its commitment to the location.

Offers in excess of £350,000 are invited for the freehold interest of the property. A sale at this level reflects a net initial yield of 8.25% assuming standard purchasers costs of 3.80%.

Sold
Investment

INVESTMENT FOR SALE – Station Buildings, Station Square, Saltburn-by-the-Sea, TS12 1AQ

Saltburn is a seaside resort on the east coast of North Yorkshire, approximately 13 miles east of Middlesbrough.

The Station Building hosts weekly and monthly markets and the annual Saltburn Food Festival which attracts over 20,000 people is centred on the Station Building.

Constructed in 1862 the property comprises the former railway station buildings which have been converted to provide a Grade II Listed retail parade, totalling ten retail units.

Total passing rent of £61,560 per annum reflecting a low average rent of only £9.90 per sq ft. We believe there may be justification to increase the rent to around £72,260 per annum

Offers are sought in excess of £550,000 (Five Hundred and Fifty Thousand Pounds), subject to contract and exclusive of VAT.

A purchase at this price reflects an attractive net initial yield of 9.24% and a low capital value of only £88.42 psf

Investment

McColl’s Convenience Store, 166 Dean Road, Meldon Terrace, South Shields

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 £27,500 per annum. The vendor will top up the rent to £28,329 per annum from completion until 19th May 2020 by way of a reduction in the purchase price.

For the year ending 27th November 2016 reported a turnover of £518 million, a pre-tax profit of £25 million and shareholder’s funds of £160 million. The combined group has a turnover in excess of £1bn. It employs nearly 20,000 full and part-time staff and is visited by over 4.5 million customers every week.

Investment

INVESTMENT FOR SALE – McColls Convenience Store, 79 Elwick Road, Hartlepool, Cleveland, TS26 9AW

The whole property is let to Martin McColl Limited for a term of 16.5 years from the 25th August 2018 on FRI terms and subject to fixed uplifts at 2% per annum compounded throughout. The passing rent is £27,500 per annum. The vendor will top up the rent to £28,329 per annum from completion until 25th February 2025 by way of a reduction in the purchase price.

For the year ending 27th November 2016 reported a turnover of £518 million, a pre-tax profit of £25 million and shareholder’s funds of £160 million. The combined group has a turnover in excess of £1bn.It employs nearly 20,000 full and part-time staff and is visited by over 4.5 million customers every week.

Under Offer
Investment Offices Retail

30 Bondgate Within, Alnwick, Northumberland, NE66 1TD

The building comprises an impressive period stone property with accommodation over basement, ground, first and second floors.

The premises are currently let to HSBC at a rent of £30,000 per annum until 7th November 2022. The lease is available by way of an assignment.

Alternatively, the freehold interest of the property may be available to purchase subject to the existing tenancy – price on application.

Investment Retail

222 Westgate Road Newcastle upon Tyne Tyne & Wear NE4 6AP

The property comprises a mid-terraced four storey building. The main walls are of solid brick construction and the roof is pitched with a slate roof covering which has been recently renewed. The property provides a ground floor retail area and on the upper floors is a spacious 6 bedroom flat with reception room, kitchen and 2 bathrooms.

Planning permission was granted for the conversion and the building was extensively refurbished in 2014 (Planning Permission Ref. 2014/0709/01/DET).

Under Offer
Investment Retail

55-57 Front Street, Prudhoe, Northumberland, NE42 5AA

Greggs plc – new 10 year lease from 16th November 2017 at a rent of £16,250 per annum. The lease expires on 15th November 2027 and there is a tenant only break on 15th November 2022.

Gloria’s Italian Restaurant – 7 year lease from 22nd June 2016 at the passing rent of £20,000 per annum. The tenant break on 21st June 2018 was not exercised.

Total rent is therefore £36,250 per annum.

Greggs Plc – Experian Credit Risk Score: “Very Low Risk” (20/12/2017) Total Turnover: £960,005,000 & Pre-Tax Profits: £71,945,000

Offers in excess of £465,000 are invited for the freehold interest in the property. A sale at this level reflects a net initial yield of 7.46% allowing for purchasers costs of 4.54%.

Under Offer
Investment Residential and Development

Albion House, St James Street, Newcastle upon Tyne, NE1 4NF

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.

Freehold

Sold
Investment Retail

81 Clayton Street, Newcastle upon Tyne, NE1 5PW

The property is situated in the heart of Newcastle city centre, very close to Debenhams & Intu Eldon Square shopping centre, The Grainger Market and the newly constructed Maldron Hotel.

The property is located in a prominent position on Clayton Street, close to the junction with Newgate Street. Clayton Street is an improving location, in close proximity to the southern end of the redeveloped InTu Eldon Square, one of the largest city centre shopping destinations in the UK with an annual footfall of 35 million. 150 meters north of the property is The Gate Complex and other retail and leisure occupiers.

Under Offer
Investment

Dental Practice Investment Portfolio – Entirely let to Whitecross Dental Care Limited

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%

Sold
Investment

Iceland, 90/91 Bedford Street, North Shields, NE29 6QF

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.

Sold
Investment

100 Front Street, Chester-le-Street, DH3 2BA

Ground flood is let to William Hill Organization Limited

Recently re-based rent of £37,500 per annum

Four refurbished apartments on upper floors

The upper floors generate a further £28,020 per annum

Total rental income of £65,520 per annum

Prominent position on Front Street, in Chester-le-Street town centre with good transport links

Seeking offers in excess of £700,000 reflecting a NIY of 8.91% assuming purchasers costs of 5.3%

Sold
Investment

27 Marine Avenue / 1 Park Road, Whitley Bay, NE26 1LX

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

 

 

Sold
Investment

The Running Fox, Felton, Northumberland

Tenants include The Running Fox & The Foxes Den
Combined passing rent of £21,600 per annum.
We are seeking offers in excess of £325,000 reflecting a net initial yield of 6.42%.
Sold
Investment

Picton Manor, Ellison Place, Newcastle Upon Tyne, NE1 8XG

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

Sold
Industrial Investment

Industrial Investment – 8A & 8B Mickleton Road, Middlesbrough

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

 

Sold
Investment

Co-operative Group Food Limited, Beresford Road, Seaton Sluice, Northumberland, NE26 4DP

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%

Sold
Investment

Betfred 50 Front Street Stanley County Durham

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%.

Sold
Investment Residential and Development

Residential Investment, 5-8 St James Street, Newcastle, NE1 4NF

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.

Sold
Investment

8 Woodhorn Road, Ashington, Northumberland, NE63 9UX

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%

Sold
Investment

30-32 Newgate Street, Morpeth, NE61 1BA

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%

Sold
Investment

Old Brewery Court, Sandyford, Newcastle upon Tyne, NE2 1XG

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

Sold
Investment

Community Shopping Centre Investment, Widdrington Station, Northumberland, NE61 5BJ

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%

Sold
Investment

Endurance House, Team Valley Trading Estate, Gateshead, NE11 0EF

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.

Sold
Investment

The Swaddle Pharmacy Portfolio Investment

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%

Sold
Investment

B&M Retail Warehouse Investment, Delves Lane, Consett, County Durham, DH8 7ES

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%

Sold
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