1-9 Broadwood Road & 677-683 West Road, Newcastle upon Tyne

Mixed Use Investment For Sale

8,177 ft²

Guide price of £750,000

Key Features

Features
Mixed use retail and residential investment
Total size of 758.9m² (8,177ft²)
Comprises 6 x retail units, 1 x garage and 4 x flats
Prominent corner location
Passing rent of £81,840 per annum
Transport
Bus stops located on West Road
3 miles from Central Train Station
0.2 miles from A1(M)
Situated on A186

Property Description

LOCATION

The subject properties are located on the corner of West Road and Broadwood Road in Denton Burn. The properties are situated in a prominent retail location which is also popular with residents.

The properties benefit from having a number of local bus routes nearby which make access into Newcastle city centre and surrounding areas easy.

The properties are within close proximity to the A1(M) which provides access to the north and south of the region. The property is 5 miles from Newcastle upon Tyne city centre, 3.5 miles from Swalwell and intu Metrocentre. Additionally, the property is situated within close proximity to the A69 which provides access to Hexham and Carlisle to the west.

DESCRIPTION

The properties comprise a terraced parade, occupying a prominent corner position of West Road and Broadwood Road.  The units comprise a mix of 6 x ground floor retail units, 1 x garage and 4x first floor flats which are let to a range of occupiers. A copy of the tenancy schedule is available below.

ACCOMMODATION AND TENANCY INFORMATION                                                

Tenant

Occupied Area

Rent (Per Annum)

Lease Start

Lease Expiry

Break Date

Rent Review

Size (m²)

Size (ft²)

EPC Rating

Arsenal Shiwan

1 Broadwood Road (Retail)

£8,320

28.07.2018

17.07.2033

18.07.2021

18.07.2021

47.00

506

D85

David Appleby

3 Broadwood Road (Residential)

£6,600

02.03.2017

Holding over



59.00

643

D68

I Hails & N Mole

5 Broadwood Road (Retail)

£7,000

10.11.2016

Holding over



46.20

497

D86

Michael Parker

7 Broadwood Road (Residential)

£5,700

25.02.2019

Holding over



59.00

635

D68

EM Robinson

9 Broadwood Road (Retail)

£8,000

28.02.2017

27.02.2027

28.02.2020

28.02.2020

50.40

543

C72

Sorach Roit

677 West Road (Garage)

£10,000

23.10.2015

22.10.2030



217.00

2,336

D77

Vacant

679 West Road (Retail)

£10,000*

Landlord 12 month rent guarantee*




59.70

643

D79

Anthony Tallern Grant

679a West Road (Residential)

£6,000

17.11.17

Holding over



76.00

818

D66

Vacant

679b West Road (Residential)

£5,000*

Landlord 12 month rent guarantee*




76.00

818

D65

Elaine Weavers

681 West Road (Retail)

£8,540

05.08.2012

04.08.2022



31.60

340

D86

Stephen Tierney

683 West Road (Retail)

£6,680

18.07.2018

27.02.2027

28.02.2020

28.02.2020

37.00

398

C69

Total

 

£81,840

 

 

 

 

758.90

 8,177 

 


TERMS

The subject property is available by way of Freehold with a guide price of £750,000 (Seven Hundred and Fifty Thousand Pounds).  A sale at this price would reflect a net initial yield of 10.35%, assuming purchasers costs at 5.40%.

VAT

All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT.

LEGAL COSTS

Each party is to bear their own legal costs involved in the transaction.

MONEY LAUNDERING REGULATIONS

In accordance with the Anti-Money Laundering Regulations the Purchaser/Tenant will be required to provide two forms of identification and proof of the source of income.

VIEWING

For general enquiries and viewing arrangements please contact Nicholas Bramwell at Bradley Hall.

Tel:        0191 232 8080

Email:    nicholas.bramwell@bradleyhall.co.uk


Arrange a viewing


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