222 Westgate Road, Newcastle Upon Tyne, NE4 6AE
£202.50 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
2,000 sq ft
186 sq m
- SECTOR
High street retail property for sale
- USE CLASSUse class orders: A1 Shops
A1
Key features
- Retail and residential investment opportunity located in Newcastle city centre
- * Adjacent to The Helix; a major city centre regeneration project
- Newcastle is a two University city with a student population in excess of 50,000
- Generating a total rental income of £35,800 per annum
- Student rental income from 5 tenants at £110 pppw
- Located in an area very popular with students
- Freehold opportunity
- Value-add opportunities through development
- The property has an EPC rating of D
Description
of solid brick construction and the roof is pitched with a slate roof covering.
The property provides a ground floor retail area and on the upper floors is a
spacious 5 bedroom flat with reception room kitchen and two bathrooms.
The building was extensively refurbished in 2014.
Newcastle upon Tyne, the commercial heart of North East England, enjoys
a strategic location roughly 260 miles north of London, 100 miles south
of Edinburgh, and the same distance north of Leeds. This prime position
translates to excellent connections via the A1(M) motorway, linking the city
to both London and Edinburgh. The A69 trunk road further enhances its
connectivity, offering a westward route to Carlisle and Cumbria.
Adding to its impressive transportation network, Newcastle boasts the
Metro, the only underground rail network outside of London in England.
This extensive system features 60 stations across the North East, seamlessly
connecting Newcastle City Centre to surrounding areas like Sunderland, South
Shields, and even Newcastle Airport itself.
The property is held freehold with title number: TY209814
The ground floor is let to a private individual trading as an international
food store for a term of 10 years from 13th October 2022, therefore
expiring on 12th October 2032 at the passing rent of £7,200 per annum.
There are three yearly tenant only break options subject to 6 months
notice and three yearly rent reviews.
The upper floors are let to 5 students on an AST at £110 per person per
week; calculating to an annual rent of £28,600 per annum.
The total gross rent is therefore £35,800 per annum.
Located opposite the Newcastle Helix Energy Centre, the property benefits
from a large rear yard with potential for value-add development. This
space could accommodate commercial expansion or additional residential
units, either as a standalone project or an extension to the existing building,
subject to planning permissions
Brochures
222 Westgate Road, Newcastle Upon Tyne, NE4 6AE
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- St James Station0.3 miles
- Newcastle Central Station0.5 miles
- Manors Station0.9 miles
About Delta Capital Property Investment, Newcastle Upon Tyne
Collingwod Buildings 38 Collingwood Street Newcastle Upon Tyne NE1 1JENotes
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