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2 Bridge Street & 15 Market Place Morpeth, NE61 1PT
Use Class
E
Size
6,441 sq ft
Rent pa
£23,750
Price
£620,000
Market Sector
High Street Scheme
Description
Morpeth is situated approximately 14 miles north of Newcastle upon Tyne and is Northumberland’s County Town and Administration Centre. The affluent Market Town is thriving and a popular & growing commuter destination for the Tyneside & Northumberland Conurbations.
The town has by and large resisted the trend for out of town retail development and its retail offer is almost entirely confined within the historical core. Bridge St and Newgate St are the principal thoroughfares along with Sanderson Arcade whose principal entrance off Bridge St leads through to ample free car park and big box retailers including Next, M&S, New Look, Wm Morrison and Lidl.
Morpeth’s current population is over 14,000 and its catchment is considerable.
The town hosts a range of independent and multiple upmarket retailer and leisure operators including M&S, Fat Face, Crew, Superdrug, White Stuff, Loungers, Sea Salt, Mint Velvet, JoJo Maman-Bebe, Waterstones, Hobbs, WHSmith, Boots and others. There is healthy demand for vacant space in the town.
Accommodation
6,441 Sq.Ft
2 Bridge Street - Ground Floor Retail - 1,459 ft2, First Floor Ancillary - 1,512 ft2, Second Floor 720 ft2. 5 Market Place - Ground Floor Retail 913 ft2, First Floor Ancillary, 855 ft2, Second Floor 603 ft2, Third Floor 379 ft2.
Financial
Rent
Subject to contract, rental offers are invited in the region of £23750 per annum exclusive of rates, service charge, VAT (if applicable) and all other outgoings.
Costs
We are instructed to seek offers in the region of £620,000 for our client’s freehold interest. Each party is to be responsible for their own legal costs incurred with this transaction. Both properties are opted for VAT.
Business Rates
Rateable Value: 2 Bridge Street £36,750 Rateable Value: 15 Market Place £19,000
Sustainability
Energy Performance Certificate
Energy Performance Certificate Information
Both premises have an EPC of D. Full certificates available on request.
Disclamier
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.
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