Property photos
Guide price
£440,000
(£89.54/sq. ft)
Retail premises for sale
Newgate Street, Morpeth NE614,914 sq. ft
Local area information
Property location
Nearby amenities
- Morpeth Chantry Middle School 0.2 miles
- Morpeth Newminster Middle School 0.2 miles
- Morpeth 0.8 miles
- Pegswood 2.1 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Morpeth to find out more about the local area.
Features and description
- Commercial investment portfolio
- 4x commercial retail/office units
- 2x units currently tenanted
- Generating 26,000 per annum
- Desirable town centre location
- To be sold freehold (please refer to legal pack)
Summary
*For sale via secure sale online bidding: Terms and conditions apply.*
We are pleased to offer to auction this substantial commercial portfolio, excellently located along the popular Newgate Street, Morpeth town centre. The portfolio comprises 4x commercial units, including a vacant retail unit, a tenanted cafe, a former florists, and upper floor office accommodation let to a performing arts charity. The 2x tenanted units are currently generating incomes of 11,500 per annum and 3500 per annum (totalling 15,000 per annum combined).
Video Tour Available!
For sale through Pattinson Auction under Conditional Terms.
Location
The subject property is located along Newgate Street, Morpeth. It is a short walk away from Morpeth town centre where you'll find local shops, restaurants and all other amenities. The property is right next to the River Wansbeck where you can go for scenic walks.
Rateable Value
The adopted rateable values are as follows (sourced from voa).
50 Newgate Street: 5,200
52 Newgate Street: 10,500
54 Newgate Street: 10,500
First/second floors, 54 Newgate Street: 6,400
Tenure
Currently pending first application - please refer to the legal pack for full title details.
Accommodation
50 Newgate Street
Ground, first and second floor retail/showroom space measuring 152.80sqm (1,645sqft).
52 Newgate Street
Ground floor cafe premises measuring 107.05sqm (1,152sqft)
54 Newgate Street
Ground floor retail accommodation measuring 118.70sqm (1,278sqft)
54a Newgate Street
First and second floor office accommodation measuring 77.90sqm (839sqft).
EPC
All available upon request (ratings C, D, C, E).
Additional Information
For further information please contact our office direct on , or alternatively via e-mail on . With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.
Auctioneers Additional Comments
Pattinson Auction are referred to below as 'The Auctioneer'.
This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer .
The property is available to be viewed strictly by appointment only via any Marketing Agent or The Auctioneer.
Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively.
The property is being sold via a transparent online auction.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Our verification process is in place to ensure that aml procedure are carried out in accordance with the law.
Auctioneers Additional Comments
The advertised price is commonly referred to as a Starting Bid' or Guide Price' and is accompanied by a Reserve Price'. The Reserve Price' is confidential to the seller and the auctioneer and will typically be within a range above or below 10% of the Guide Price' / Starting Bid'.
These prices are subject to change.
An auction can be closed at any time with the auctioneer permitting for the property (the lot) to be sold prior to the end of the auction.
A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers' obligations and sellers' commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.
Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.
*For sale via secure sale online bidding: Terms and conditions apply.*
We are pleased to offer to auction this substantial commercial portfolio, excellently located along the popular Newgate Street, Morpeth town centre. The portfolio comprises 4x commercial units, including a vacant retail unit, a tenanted cafe, a former florists, and upper floor office accommodation let to a performing arts charity. The 2x tenanted units are currently generating incomes of 11,500 per annum and 3500 per annum (totalling 15,000 per annum combined).
Video Tour Available!
For sale through Pattinson Auction under Conditional Terms.
Location
The subject property is located along Newgate Street, Morpeth. It is a short walk away from Morpeth town centre where you'll find local shops, restaurants and all other amenities. The property is right next to the River Wansbeck where you can go for scenic walks.
Rateable Value
The adopted rateable values are as follows (sourced from voa).
50 Newgate Street: 5,200
52 Newgate Street: 10,500
54 Newgate Street: 10,500
First/second floors, 54 Newgate Street: 6,400
Tenure
Currently pending first application - please refer to the legal pack for full title details.
Accommodation
50 Newgate Street
Ground, first and second floor retail/showroom space measuring 152.80sqm (1,645sqft).
52 Newgate Street
Ground floor cafe premises measuring 107.05sqm (1,152sqft)
54 Newgate Street
Ground floor retail accommodation measuring 118.70sqm (1,278sqft)
54a Newgate Street
First and second floor office accommodation measuring 77.90sqm (839sqft).
EPC
All available upon request (ratings C, D, C, E).
Additional Information
For further information please contact our office direct on , or alternatively via e-mail on . With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.
Auctioneers Additional Comments
Pattinson Auction are referred to below as 'The Auctioneer'.
This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer .
The property is available to be viewed strictly by appointment only via any Marketing Agent or The Auctioneer.
Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively.
The property is being sold via a transparent online auction.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Our verification process is in place to ensure that aml procedure are carried out in accordance with the law.
Auctioneers Additional Comments
The advertised price is commonly referred to as a Starting Bid' or Guide Price' and is accompanied by a Reserve Price'. The Reserve Price' is confidential to the seller and the auctioneer and will typically be within a range above or below 10% of the Guide Price' / Starting Bid'.
These prices are subject to change.
An auction can be closed at any time with the auctioneer permitting for the property (the lot) to be sold prior to the end of the auction.
A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers' obligations and sellers' commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.
Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.
Floor plans and tours
Tours (1)
1 virtual tour available
Step inside the property with a virtual tour or video walkthrough.
More information
Listed by
Pattinson - Commercial
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