Property photos
Freehold
Offers in region of
£825,000
Retail premises for sale
19-31 High Street East, Wallsend NE28Local area information
Property location
Nearby amenities
- Richardson Dees Primary School 0.3 miles
- Carville Primary School 0.3 miles
- Heworth 2.9 miles
- Manors 3.1 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Wallsend to find out more about the local area.
Features and description
- Freehold
- 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 %.
- Reduced price
Situation
The subject property is located within central Wallsend within the town centre and fronts directly onto High Street East, the principle High Street in the town. Wallsend is a suburb of Newcastle upon Tyne, with Newcastle City Centre being around 4 miles to the west and is closely located to transport facilities in the form of bus and metro services linking the greater north east area. High Street East sees an annual average daily flow of 13,621 vehicles.
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.
Accomodation
19 High Street East (Cash Converters)
Ground Floor Retail
1,434 ft2
First Floor Ancillary
990 ft2
Second Floor/Attic
365 ft2
21/23 High Street East (Moore Funeral
Services)
Ground Floor Retail
1,191 ft2
First Floor Ancillary
790 ft2
First Floor Ancillary 790 ft2
25 High Street East (Vacant)
Ground Floor Retail
1,041 ft2
Rear Yard
312 ft2
31 High Street East (DC Hair Studios)
Ground Floor Retail
1,131 ft2
Flats 1-4 Eltringham House, Rear of 25 - 29 High Street East (First Floor)
Not Measured
Tenancy shedule
Demise
Tenant
Annual
Rent
Term
Expiry
Repair
Review & Break
19 High Street East
Daemma Trading
Limited T/A Cash
Converters
£13,000 pax
5 Year
Renewal
Lease
14.2.26
eFRI via Ad
Hoc Service
Charge
N/A
21/23 High Street East
Moore Funeral Services
Limited
£14,000 pax
5 Year
Renewal
Lease
6.7.27
eFRI via Ad
Hoc Service
Charge
N/A
25 High Street East
Vacant
£14,500
Estimated
Market
Rent
31 High Street East
DC Hair Studios T/A The
Philanthropist
£12,000 pax
10 Years
1.11.29
eFRI via Ad
Hoc Service
Charge
Review – omuo review
1.11.24Break Option – 1.11.24
(Notice Period has
Lapsed)
Flat 1 (1 Bed)
Private Individual
£6,900 pa
12 Month
AST
Flat 2 (1 Bed)
Private Individual
£6,900 pa
12 Month
AST
Flat 3 (1 Bed)
Private Individual
£6,900 pa
12 Month
AST
Flat 4 (1 Bed)
Private Individual
£6,900 pa
12 Month
AST
Total Passing Rent
£66,600 pa
Estimated Rent with Last Void Let
£81,100 pa
Service charge
The commercial aspect is serviced via an ad-hoc service charge based on proportionate floor areas. There have been no charges in recent years.
VAT
The property is not elected for VAT.
Energy performance certificates
Available upon request.
Costs
Each party is to be responsible for their own legal and professional costs incurred with this transaction.
Proposal
We are instructed to seek offers in the region of £825,000 reflecting a blended yield of 9.25% and assuming usual purchasers’ costs of 5.53 %.
Viewing
For enquiries, viewing, and general information, please contact:
Pete Townsend
E:
M: Oliver Sunderland
E:
M:
The subject property is located within central Wallsend within the town centre and fronts directly onto High Street East, the principle High Street in the town. Wallsend is a suburb of Newcastle upon Tyne, with Newcastle City Centre being around 4 miles to the west and is closely located to transport facilities in the form of bus and metro services linking the greater north east area. High Street East sees an annual average daily flow of 13,621 vehicles.
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.
Accomodation
19 High Street East (Cash Converters)
Ground Floor Retail
1,434 ft2
First Floor Ancillary
990 ft2
Second Floor/Attic
365 ft2
21/23 High Street East (Moore Funeral
Services)
Ground Floor Retail
1,191 ft2
First Floor Ancillary
790 ft2
First Floor Ancillary 790 ft2
25 High Street East (Vacant)
Ground Floor Retail
1,041 ft2
Rear Yard
312 ft2
31 High Street East (DC Hair Studios)
Ground Floor Retail
1,131 ft2
Flats 1-4 Eltringham House, Rear of 25 - 29 High Street East (First Floor)
Not Measured
Tenancy shedule
Demise
Tenant
Annual
Rent
Term
Expiry
Repair
Review & Break
19 High Street East
Daemma Trading
Limited T/A Cash
Converters
£13,000 pax
5 Year
Renewal
Lease
14.2.26
eFRI via Ad
Hoc Service
Charge
N/A
21/23 High Street East
Moore Funeral Services
Limited
£14,000 pax
5 Year
Renewal
Lease
6.7.27
eFRI via Ad
Hoc Service
Charge
N/A
25 High Street East
Vacant
£14,500
Estimated
Market
Rent
31 High Street East
DC Hair Studios T/A The
Philanthropist
£12,000 pax
10 Years
1.11.29
eFRI via Ad
Hoc Service
Charge
Review – omuo review
1.11.24Break Option – 1.11.24
(Notice Period has
Lapsed)
Flat 1 (1 Bed)
Private Individual
£6,900 pa
12 Month
AST
Flat 2 (1 Bed)
Private Individual
£6,900 pa
12 Month
AST
Flat 3 (1 Bed)
Private Individual
£6,900 pa
12 Month
AST
Flat 4 (1 Bed)
Private Individual
£6,900 pa
12 Month
AST
Total Passing Rent
£66,600 pa
Estimated Rent with Last Void Let
£81,100 pa
Service charge
The commercial aspect is serviced via an ad-hoc service charge based on proportionate floor areas. There have been no charges in recent years.
VAT
The property is not elected for VAT.
Energy performance certificates
Available upon request.
Costs
Each party is to be responsible for their own legal and professional costs incurred with this transaction.
Proposal
We are instructed to seek offers in the region of £825,000 reflecting a blended yield of 9.25% and assuming usual purchasers’ costs of 5.53 %.
Viewing
For enquiries, viewing, and general information, please contact:
Pete Townsend
E:
M: Oliver Sunderland
E:
M:
More information
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