Freehold price of £330,000
Rare office investment for sale
Total size 351.61m² (3,784ft²)
Fully let to Alnwick District Council (Now Northumberland County Council)
Passing rent of £20,542.26 per annum
Rent review due October 2019 (RPI Linked)
Approximate site size of 0.127 ha (0.31 acres)
We are instructed to seek a price of £330,000 equating to a net initial yield of 6.01% assuming purchasers costs at 3.62%.
The property is located on Fenkle Street in Alnwick, a town within the county of Northumberland in the North East of England. Alnwick is located between Morpeth and Berwick upon Tweed.
The subject property lies on the corner of Fenkle Street, where it connects with the B6341, the main street in Alnwick, providing it with a prominent town centre and excellent visibility.
The property is just 2 miles (4 minutes) from the A1 (M) which connects it with towns to the North such as Berwick-upon-Tweed and the city of Newcastle Upon Tyne 35 miles to the south.
The subject property comprises an impressive stone built Grade II Listed building which occupies a mid-terrace position in the town centre.
The property is currently occupied by Alnwick District Council for variety of services such as council office and religious and wedding ceremonies.
The premises also benefits from external rear yard providing a total site of c.0.31 acres with a site coverage of approximately only 17%.
The accommodation is available by way of freehold with a price of £330,000 (Three Hundred and Thirty Thousand Pounds).
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.
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.
For general enquiries and viewing arrangements please contact Nicholas Bramwell at Bradley Hall.
Tel: 0191 232 8080