Mixed Retail and Residential Investment For Sale, Jesmond
132-142 , Station Road, Wallsend, Newcastle Upon Tyne , NE28 8QT
Investment
4,420 Sq Ft
£250,000 for the Freehold
For Sale
Under Offer
Fergus Laird
Interested in this property?
Please contact me
fergus@naylorsgavinblack.co.uk 0191 232 7030Find out more
About the property
The property comprises a mid-terraced block of three two storey unit of brick construction under pitched slate roofs.
134 Station Road comprises a ground floor lock-up trading as both a convenience shop and a barber's shop.
132, 136 & 138 Station Road comprises Ground floor retail unit with office accommodation on the first and second/attic floors extending above unit 134. The accommodation is finished to a good standard.
142 Station Road comprises a ground floor lock-up shop trading as a Hairdressing salon. To the rear there is a kitchen area and WC facilities in the yard.
140 Station Road is a first floor flat comprising a lounge, two bedrooms, bathroom and kitchen.
Key features
Three retail units with mixed use uppers
Total income £25,600 per annum
Break up potential
Offers over £250,000 for the freehold interest
Net Initial Yield of 10% after allowing for purchaser costs
Location
Wallsend is is located to the North of the River Tyne, approximately four miles of East Newcastle City Centre.
The subject property is situated on the east side of Station Road approximately 50 metres north of its junction with High Street West, which along with the Forum Shopping Centre is regarded as the main shopping area for the town. Wallsend Library and Customer First Centre immediately opposite the subject property.
Terms
Freehold - offers over £250,000 (exclusive of VAT), which shows a net initial yield of 10% after purchaser's costs.