Property photos
Offers over
£385,000
(£121.99/sq. ft)
Retail premises for sale
Marygate, Berwick-Upon-Tweed TD153,238 sq. ft
Local area information
Property location
Nearby amenities
- Holy Trinity Church of England First School 0.4 miles
- St Cuthbert's Roman Catholic Voluntary Aided First School, Berwick 0.4 miles
- Berwick-upon-Tweed 0.4 miles
- Reston Station 9.2 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Berwick-Upon-Tweed to find out more about the local area.
Features and description
Mixed Use Development
Town Centre
Full Building
Commercial and Residential
Anchored By Ladbrokes (New Fitout)
Income Producing: £37,700p.a.
Price: O/o £385,000
Location
The property is prominently situated on the south side of Marygate, a prime retailing pitch, in the heart of the town centre. Nearby occupiers include B&M, Boots the Chemist, Caffè Nero, Costa, Greggs, WHSmith and Sports Direct.
Property
The property comprises a full building of traditional construction forming a ground floor commercial premises with 3 no. Residential dwellings at upper floors forming 2 x 2 bedroom and 1 x 1 bedroom apartments.
The ground floor benefits from a large aluminium framed and glazed frontage and recently completed fitout by the tenant which we have been verbally advised spent in the region of £250,000.
The upper floors are held on AST agreements on personal names, accessible via a pend from Margate leading to rear access via a single staircase.
Area
We have calculated the ground floor to extend to the following floor area;
117.8sqm (1,268sq ft)
Commercial Lease Summary
The ground floor is held on a full respiring and insuring head lease on the following terms;
Tenant: Ladbrokes Betting & Gaming Ltd
Expiry: 1st September 2032
Review & Break: 5th Year (subject to a £10,000 penalty if break exercised)
Passing Rent: £20,000p.a.
Further Information: For the year ended 31.12.2022, Ladbrokes Betting & Gaming Limited reported a turnover of £1.033bn, a pre-tax profit of £54.369m, shareholders funds of £1.196bn and a net worth of £1.154bn (Source: Experian 09.04.2024)
Residential Summary
The residential apartments are held on AST agreements on the following terms;
First Floor Front
AST: Personal Name
Expiry: 26th March 2025
Passing Rent: £6,300p.a
Type: 2 Bedroom
Area: 872sq ft
First & Second (Duplex)
AST: Personal Name
Expiry: 9th May 2025
Passing Rent: £6,000p.a
Type: 2 Bedroom
Area: 1,098sq ft
Second Floor Rear
AST: Personal Name
Expiry: 8th September 2024
Passing Rent: £5,400p.a
Type: 1 Bedroom
Area: 581sq ft
Price
Our client will dispose of their freehold interest for o/o £385,000
V.A.T
The property has been elected for V.A.T. As such the transaction may be treated as a T.O.G.C (transfer of a going concern)
E.P.C.
Available on request
Legal
Each party shall bear their own legal costs incurred in the transaction
Anti-Money Laundering
In order to comply with anti-money laundering legislation, the successful purchaser will be required to provide certain identification documents. The required documents will be confirmed to and requested at the relevant time.
Town Centre
Full Building
Commercial and Residential
Anchored By Ladbrokes (New Fitout)
Income Producing: £37,700p.a.
Price: O/o £385,000
Location
The property is prominently situated on the south side of Marygate, a prime retailing pitch, in the heart of the town centre. Nearby occupiers include B&M, Boots the Chemist, Caffè Nero, Costa, Greggs, WHSmith and Sports Direct.
Property
The property comprises a full building of traditional construction forming a ground floor commercial premises with 3 no. Residential dwellings at upper floors forming 2 x 2 bedroom and 1 x 1 bedroom apartments.
The ground floor benefits from a large aluminium framed and glazed frontage and recently completed fitout by the tenant which we have been verbally advised spent in the region of £250,000.
The upper floors are held on AST agreements on personal names, accessible via a pend from Margate leading to rear access via a single staircase.
Area
We have calculated the ground floor to extend to the following floor area;
117.8sqm (1,268sq ft)
Commercial Lease Summary
The ground floor is held on a full respiring and insuring head lease on the following terms;
Tenant: Ladbrokes Betting & Gaming Ltd
Expiry: 1st September 2032
Review & Break: 5th Year (subject to a £10,000 penalty if break exercised)
Passing Rent: £20,000p.a.
Further Information: For the year ended 31.12.2022, Ladbrokes Betting & Gaming Limited reported a turnover of £1.033bn, a pre-tax profit of £54.369m, shareholders funds of £1.196bn and a net worth of £1.154bn (Source: Experian 09.04.2024)
Residential Summary
The residential apartments are held on AST agreements on the following terms;
First Floor Front
AST: Personal Name
Expiry: 26th March 2025
Passing Rent: £6,300p.a
Type: 2 Bedroom
Area: 872sq ft
First & Second (Duplex)
AST: Personal Name
Expiry: 9th May 2025
Passing Rent: £6,000p.a
Type: 2 Bedroom
Area: 1,098sq ft
Second Floor Rear
AST: Personal Name
Expiry: 8th September 2024
Passing Rent: £5,400p.a
Type: 1 Bedroom
Area: 581sq ft
Price
Our client will dispose of their freehold interest for o/o £385,000
V.A.T
The property has been elected for V.A.T. As such the transaction may be treated as a T.O.G.C (transfer of a going concern)
E.P.C.
Available on request
Legal
Each party shall bear their own legal costs incurred in the transaction
Anti-Money Laundering
In order to comply with anti-money laundering legislation, the successful purchaser will be required to provide certain identification documents. The required documents will be confirmed to and requested at the relevant time.
More information
Listed by
TSA Property Consultants
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