19-31 High Street East, Wallsend, NE28

For Sale
High Street East, Wallsend - Picture 2024-09-26-12-21-59

Agents

AT Retail Ltd logo

AT Retail Ltd

Ollie Sunderland

Pete Townsend

Use Class

Use Class

E

Size

Size

365 - 1,434 sq ft

Price

Price

£825,000

Key Features

  • Mixed-use investment comprising of 4 retail units and 4 self-contained flats.

  • Current income of £66,600 rising to £81,100 when fully let.

  • Single recent ground floor void - a licenced & fitted bar with an ERV of £14,500 pax.

  • Parking and Loading at the rear.

  • Offers in the region of £825,000 reflecting a blended yield of 9.3% and assuming usual purchasers’ costs of 5.53 %.

Description

The property consists of a block of mixed-use space containing of 4 commercial (retail) units as well as 4 self-contained 1 bed flats. The property is two stories and faces onto High Street East, with access to the residential and loading facilities to the rear just off Woodbine Avenue & Laburnum Avenue.

The building is of brick construction with a pitched slate roof and has been under the same ownership since 1907. In 2019 part of the first floor was converted into the 4 x 1 bed apartments which have been tenanted ever since, with two commercial tenants longstanding within the building on renewal leases.

Key Information

Viewing

Strictly by appointment. Staff are unaware.

Legal

The Money Laundering Regulations 2017 place a legal obligation on the agents to identify a proposed purchaser once the sale has been agreed and prior to instructing solicitors. Confirmation of the source of the purchaser's funds will also be required.

Accommodation

365 - 1,434 Sq.Ft

Financial

Costs

Each party is responsible for their own legal and other professional costs incurred in the transaction.

Tenure

Freehold

Misrepresentation Notice

All the above information and descriptions (whether in the text, plans or photographs) are given in good faith but should not be relied upon as being a statement of representation or fact. Any areas, measurements or distances referred to are approximate only.

All data ©2024 Completely Property Technology Limited

This was last updated on 08/10/2024