65c, 67, 69, 71, 80, 84 & 86 Heaton Road, Newcastle upon Tyne
Mixed Use Investment Portfolio For Sale
15,814 ft²
Offers in excess of £1,000,000
Key Features
Features
Mixed use investment portfolio
Properties totalling 15,814ft²
Fully let to various tenants
Potential future development opportunities STPP
Passing rent of £85,760 per annum
We are instructed to seek offers in excess of £1,000,000 (One Million Pounds) equating to an approximate net initial yield of 8.11% assuming purchasers costs at 5.75%.
Transport
Bus stops located on Heaton Road
0.5 miles from Chillingham Road Metro Station
0.4 miles from Byker Metro Station
0.5 miles from A193
0.7 miles from A1058 (Coast Road)
Property Description
LOCATION
The subject properties are located on Heaton Road in Heaton, Newcastle upon Tyne. Heaton Road is a main road through Heaton which provides direct access to A1058 (Coast Road) to the north and Shields Road and A193 to the south. The properties are situated 0.5 miles west of Chillingham Road Metro Station, 0.4 miles north of Byker Metro Station and 1.4 miles east of Newcastle upon Tyne city centre.
DESCRIPTION
65c Old Co-Operative Buildings comprises a 6 bedroom student flat.
67 - 71 Old Co-Operative Buildings comprises a ground floor retail unit with first and second floors currently used as sports/gymnasium facilities.
80 Heaton Road comprises a ground floor retail unit which forms part of a terrace. The property benefits from a tanked cellar.
84 Heaton Road comprises an end terrace retail unit which is arranged over ground floor and basement.
86 Heaton Road comprises a ground floor retail unit occupying a mid-terrace position.
ACCOMMODATION AND TENANCY INFORMATION
| Tenant
|
Occupied area
|
Rent (Per annum)
|
Lease Terms
|
Size (ft²)
|
EPC Rating
|
| Student Apartment
|
65c Old Co-Operative Buildings
|
£20,800
|
Let until June 2020.
|
1,787ft²
|
C72
|
| Goldstar Gym & Supplements
|
67 Old Co-Operative Buildings
|
£36,000
|
Tenant been in occupation for 25 years. The lease has an expiry date of June 2021.
|
1,805ft²
|
B49
|
| 69 Old Co-Operative Buildings
|
5,785ft²
|
||||
| 71 Old Co-Operative Buildings
|
896ft²
|
||||
| The Treatment Rooms
|
80 Heaton Road
|
£7,080
|
Let until November 2021 (tenant option to extend for a further 3 years.
|
588ft²
|
E112
|
| DKM t/a Brian Clark Electrical & RU Cold
|
84 Heaton Road
|
£15,000
|
Let until June 2021 (tenant option to extend the lease by a further 3 years)
|
2,217ft²
|
D86
|
| Driftwood Spa
|
86 Heaton Road
|
£8,004
|
Let until March 2019 (tenant option to extend the lease for a further 3 years)
|
2,736ft²
|
D93
|
| Total
|
|
£86,884
|
|
15,814ft²
|
|
TERMS
The accommodation is available by way of freehold seeking offers in excess of £1,000,000 (One Million Pounds).
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
Tel: 0191 232 8080
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