Offers in excess of £995,000
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.
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
||Rent (Per annum)
||65c Old Co-Operative Buildings
||Let until June 2020.
|Goldstar Gym & Supplements
||67 Old Co-Operative Buildings
||Tenant been in occupation for 25 years. The lease has an expiry date of June 2021.
|69 Old Co-Operative Buildings
|71 Old Co-Operative Buildings
|The Treatment Rooms
||80 Heaton Road
||Let until November 2021 (tenant option to extend for a further 3 years.
|DKM t/a Brian Clark Electrical & RU Cold
||84 Heaton Road
||Let until June 2021 (tenant option to extend the lease by a further 3 years)
||86 Heaton Road
||Let until March 2019 (tenant option to extend the lease for a further 3 years)
We are instructed to seek offers in excess of £995,000 (Nine Hundred and Ninety Five Thousand Pounds) equating to an approximate net initial yield of 8.26% assuming purchasers costs at 5.74%.
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
Tel: 0191 232 8080