Mixed Retail and Residential Investment For Sale, Ashington
23, Station Road, Ashington, NE63 9UZ
Investment
1,148 Sq Ft
£475,000 for the Freehold
For Sale
Fergus Laird
Interested in this property?
Please contact me
fergus@naylorsgavinblack.co.uk 0191 232 7030
Find out more
About the property
Ground floor lock up shop currently divided to provide treatment area, rear private cubicles and storage with four fully furnished self-contained flats to the first and second floors.
Key features
Ground floor retail unit with separate 2 no. two-bed and 2 no. one-bed self-contained flats
Ground floor let to Private Individual with personal guarantee
7.5 years unexpired
Total rental income £45,000 per annum
9.5% gross yield
VAT free
Close to newly opened railway station giving direct access to Newcastle
Location
Ashington is a former mining town located towards the coast in the heart of Northumberland. It benefits from good access to the region via the A189 Spine Road. There is now a direct rail service to Newcastle which has been of significant benefit to the town.
The Art Deco property is located to the north side of Station Road, the main retail location serving the town with close by occupiers including Greggs, Boots, Hays Travel and a number of high street banks.
Terms
The property is freehold, subject to the tenancies as below:
Retail - let by way of an effectively full repairing and insuring lease to a private individual (with personal guarantee) by way of a 10 year unbroken lease from 4 November 2022 without review (7.5 years unexpired), at an annual rental of £18,000 per annum. The lease is excluded from the security of tenure provisions of the Landlord and Tenant Act.
Total Income £45,000pa.
