Mixed Use Investment for Sale

Mixed Use Investment For Sale

1-9 Broadwood Road & 677-683 West Road, Newcastle upon Tyne,

NE15 7SX DURHAM | NEWCASTLE | SUNDERLAND | LEEDS

DESCRIPTION INVESTMENT SUMMARY The properties comprise a terraced parade, occupying a prominent corner position of West Road and Broadwood Road. The units comprise a mix of 6 x ground floor retail units,

• Mixed use retail and residential investment 1 x garage and 4x first floor flats which are let to a range of occupiers. A copy of the

tenancy schedule is available below.

• Total size of 758.9m² (8,177ft²) TERMS

The subject property is available by way of Freehold with a guide price of £750,000 (Seven • Comprises 6 x retail units, 1 x garage and 4 x flats Hundred and Fifty Thousand Pounds). A sale at this price would reflect a net initial yield of • Prominent corner location 10.35%, assuming purchasers costs at 5.40%.

• Passing rent of £81,840 per annum. VAT All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are • We are instructed to seek a price of £750,000 equating to a net initial yield to be made to Bradley Hall upon this basis, and where silent, offers will be deemed net of of 10. 35%, assuming purchasers costs at 5.40%. VAT.

LOCATION LEGAL COSTS

The subject properties are located on the corner of West Road and Broadwood Road Each party is to bear their own legal costs involved in the transaction. in Denton Burn. The properties are situated in a prominent retail location which is

also popular with residents. MONEY LAUNDERING REGULATIONS

In accordance with the Anti-Money Laundering Regulations the Purchaser/Tenant will be The properties benefit from having a number of local bus routes nearby which make required to provide two forms of identification and proof of the source of income. access into Newcastle city centre and surrounding areas easy.

VIEWING The properties are within close proximity to the A1(M) which provides access to the north and south of the region. The property is 5 miles from Newcastle upon Tyne For general enquiries and viewing arrangements please contact Nicholas Bramwell at Bradley city centre, 3.5 miles from Swalwell and intu Metrocentre. Additionally, the property Hall. is situated within close proximity to the A69 which provides access to Hexham and Carlisle to the west. Tel: 0191 232 8080 Email: [email protected]

Bus stops located on West 3 miles from Central Train 0.2 miles from A1(M) 5 miles from Newcastle Road Station Situated on A186 International Airport

ACCOMMODATION AND TENANCY INFORMATION

Tenant Occupied Area Rent (Per Lease Start Lease Expiry Break Date Rent Review Size Size EPC Annum) (m²) (ft²) Rating Arsenal Shiwan 1 Broadwood Road (Retail) £8,320 28.07.2018 17.07.2033 18.07.2021 18.07.2021 47.00 506 D85 David Appleby 3 Broadwood Road (Residential) £6,600 02.03.2017 Holding over 59.00 643 D68 I Hails & N Mole 5 Broadwood Road (Retail) £7,000 10.11.2016 Holding over 46.20 497 D86 Michael Parker 7 Broadwood Road (Residential) £5,700 25.02.2019 Holding over 59.00 635 D68 EM Robinson 9 Broadwood Road (Retail) £8,000 28.02.2017 27.02.2027 28.02.2020 28.02.2020 50.40 543 C72 Sorach Roit 677 West Road (Garage) £10,000 23.10.2015 22.10.2030 217.00 2,336 D77 Vacant 679 West Road (Retail) £10,000* Landlord 12 59.70 643 D79 month rent guarantee* Anthony Tallern 679a West Road (Residential) £6,000 17.11.17 Holding over 76.00 818 D66 Grant Vacant 679b West Road (Residential) £5,000* Landlord 12 76.00 818 D65 month rent guarantee* Elaine Weavers 681 West Road (Retail) £8,540 05.08.2012 04.08.2022 31.60 340 D86 Stephen Tierney 683 West Road (Retail) £6,680 18.07.2018 27.02.2027 28.02.2020 28.02.2020 37.00 398 C69 Total £81,840 758.90 8,177

IMPORTANT NOTICE Bradley Hall for themselves and for the Vendors or Lessors of this property whose agents they are give notice that: 1) the particulars are set out as a general outline only for the guidance of intending purchasers or lessees and do not constitute part of an offer or contract. 2) all descriptions, dimensions, references to condition and necessary permissions for use and occupation and their details are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them. 3) no person in the employment of Bradley Hall has any authority to make or give any representation or warranty whatever in relation to this property of these particulars nor enter into any contract relating to the property on behalf of Bradley Hall, nor any contract on behalf of the Vendor. 4) no responsibility can be accepted for any expenses incurred by intending purchasers or lessees in inspecting properties which have been sold, let or withdrawn. Registered in England No. 07236458 1 Hood Street, Newcastle upon Tyne, NE1 6JQ

1 Hood Street, Newcastle upon Tyne, NE1 6JQ | 0191 232 8080 | [email protected] www.bradleyhall.co.uk