Guide price of £500,000
The subject property is situated in a detached position fronting Woodlands which is an estate road running through an established residential housing estate within the village of Throckley.
Throckley is a village located approximately 11 kilometres west of Newcastle upon Tyne. Although Throckley is predominantly residential in nature there is the presence of a Sainsbury’s Supermarket, a number of other smaller independent retailers particularly along Hexham Road and there is also an industrial estate comprising of a range of detached and terraced workshop and warehouse units in addition to the IB stock building products site. Within Throckley there is Throckley Primary School and Trinity School.
Hexham Road (B6528) runs through Throckley and provides access west linking with the A69 at Horsley. Hexham Road runs parallel with the A69 which links to it from Throckley via the A6085. The A69 provides access to Newcastle in the east and Carlisle in the west.
The subject property is in a residential location where there is an array of semi-detached and attached private houses and adjacent to the subject property is another block of flats which are of the same specification and design and assumed to have been constructed by the same developer.
The subject property comprises a detached, three storey development with 11 flats and a ground floor commercial retail unit.
The building is of cavity brick construction with a combination of concrete tile rendering which has a painted finish to the front and rear elevations. The windows are primarily uPVC double glazed construction although there are still some flats which have single glazed windows within timber casements. The roof is flat with a mineral felt covering.
The ground floor retail unit has a traditional shop frontage with single glazed display windows within timber casements. Access to the ground floor flats are via doors to the front and rear and the upper floors are accessed via an entrance way in the gable end of the building, leading to an internal stairwell which then provides access to walkways on each level at the rear of the property.
The total passing rent of the property is £48,268. At a purchase price of £500,000 this reflects a net initial yield of 9.26%.
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.
Each party is to bear their own legal costs involved in the transaction.
For general enquiries and viewing arrangements please contact Nicholas Bramwell at Bradley Hall.
Tel: 0191 232 8080