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Description

  • Status: Available
  • Type: Portfolio
  • Ownership: Freehold
  • Occupation: Tenanted

3,819 sq ft commercial ground floor unit let to Ladbrokes with 3 self contained upper floor apartments above in HIGHLY PROMINENT TRADING POSITION PRODUCING £37,700 pa Total Rental.

Property is sure to appeal to investors looking to purchase an easily manageable/rentable property in a sought after location in Berwick-upon-tweed. IMMEDIATE INCOME PRODUCING MIXED USE PROPERTY.

Let to Ladbrokes on a full repairing and insuring lease expiring 2032 at a current passing rent of £20,000 per annum. 3 upper floor flats let on AST’s producing £17,700 per annum.

Ground Floor Commercial 1,268 sq ft First floor (Front) 2 Bedroom flat 872 sq ft Second floor (front & First floor (rear) 2 Bedroom flat 1,098 sq ft Second floor (rear) 1 Bedroom flat 581 sq ft.

EXCELLENT LOCATION situated fronting the west side of Marygate, in the heart of the town centre, close to a host of local and national amenities and offers excellent links by road and by rail.

Total – 3,819 sq ft OUTSTANDING INVESTMENT OPPORTUNITY. commercial ground floor unit with 3 self contained upper floor apartments. in HIGHLY PROMINENT TRADING POSITION PRODUCING £37,700 pa Property is sure to appeal to investors looking to purchase an easily manageable/rentable property in a sought after location in Berwick-upon-tweed. IMMEDIATE INCOME PRODUCING MIXED USE PROPERTY. Let to Ladbrokes on a full repairing and insuring lease expiring 2032 at a current passing rent of £20,000 per annum. 3 upper floor flats let on AST’s producing £17,700 per annum. Ground Floor Commercial 1,268 sq ft First floor (Front) 2 Bedroom flat 872 sq ft Second floor (front & First floor (rear) 2 Bedroom flat 1,098 sq ft Second floor (rear) 1 Bedroom flat 581 sq ft. EXCELLENT LOCATION situated fronting the west side of Marygate, in the heart of the town centre, close to a host of local and national amenities and offers excellent links by road and by rail.

Berwick-upon-Tweed is a town in Northumberland, England, near the border with Scotland. The town features well-preserved medieval walls, the Berwick Castle, and several bridges over the River Tweed Berwick has a selection of leisure and sports clubs, banks, public houses, cafes, restaurants and The Maltings theatre and cinema. There is a main line railway station which has regular trains to both Edinburgh, Newcastle and London, both Edinburgh and Newcastle.

Full Address: 53-55 Marygate, Berwick-upon-tweed, Northumberland, TD15 1AX

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 8 Years
Rent: £37,700 per year / £3,142 per month
Yield: 11% (approx)
Tenant: Private Individual
Notes: Betting office let to Ladbrokes on a lease expiring 2032 . 3 flats on Assured Tenancy Agreements.

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Pricing Information & Bidding

Opening Bid: £349,000

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SPECIAL Terms of Sale

  • 10% Deposit
  • Buyers Fee = 3% of Sale Price (Minimum £3,250 + vat)
  • 4 Weeks Completion or Longer By Agreement
  • Contribution to Sellers Costs £2,750 for on time settlement

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Auction Details

Date & Time: 12 December 2024, 10am-3pm
Type: Timed Online Auction

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