Properties
Tenure
Location
42 Middle Street, Consett, DH8 5QL
The property is arranged on ground and two upper floors to provide a former ground floor banking hall with ancillary accommodation on the first and second floors.
The property benefits from a return frontage onto Mason Street, which provides access to the side and rear.
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Unit 3 Banks Court, Dunne Road, Blaydon, NE21 5NH
The subject property is a mid-terrace steel portal frame unit with a profile sheet exterior, brick and blockwork walls and a pitched roof. Internally there is a concrete floor, box lighting as well as translucent sky-lights in the roof.
There is a two storey block built area to the front of the building providing office/storage along with W/C. Vehicular access is through a full height roller shutter. The minimum eaves height is 4.63m rising to 5.67m at the max. There is staff / customer parking to the front of the property.
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UNDER OFFER – 44-50 High Street West, Wallsend, Tyne & Wear, NE28 8HX
The property is two storey mid terraced unit with a pitched slate roof. The ground floor provides retail space with ancillary facilities to the rear. The first floor provides further storage and a kitchen. The unit could be suitable for a variety of uses subject to planning.
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INVESTMENT OPPORTUNITY – The freehold is available to purchase together with the neighbouring retail unit trading as Yazz, which is let on a lease at £10,400 per annum until 24th March 2025 – asking price on application.
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230-234 Whitley Road and 1-9 South Parade, Whitley Bay, North Tyneside, NE26 2TA
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
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Durant Hall, Ellison Place, Newcastle upon Tyne, NE1 8XG
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
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Athelstan Court, College Business Park, Ripon, HG4 2RL
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
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LAND WITH PLANNING PERMISSION FOR 43 BEDROOMS ACROSS 27 APARTMENTS – Nelson’s Yard, Holly Street, Durham City, DH1 4ER
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
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RESIDENTIAL INVESTMENT FOR SALE – 9, 11 & 13 St James’ Street, Newcastle, NE1 4NF
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.
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LEISURE INVESTMENT FOR SALE – 580 – 580a Durham Road, Low Fell, Gateshead, NE9 6HX
Long Income leisure investment opportunity let until May 2030 (without breaks) at the passing rent of £37,500 per annum.
The property comprises an end terrace building with brick elevations under a flat roof and has been trading as an Italian restaurant since 1961. The property currently trades as Rosa 12.
Internally the property comprises restaurant seating across basement, ground and first floors offering 150 covers, with kitchen and preparation areas over ground and basement. There is a private function suite at basement level with additional bar area.
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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 £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%.
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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
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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%
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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.
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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
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The Running Fox, Felton, Northumberland
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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
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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
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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%
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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%.
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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.
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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%
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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%
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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
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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%
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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.
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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%
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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%
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