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Property Type Investment Availability For Sale Size 3237 sqft Energy Performance Rating This property has been graded as C 73
LOCATION South Shields, with a population of approximately 83,000, is situated south of the River Tyne, some 11 miles east of Newcastle upon Tyne. Road communications are good, with the A1300 connecting to the A194 and hence the A1, whilst the Metro (light railway) provides frequent services to Newcastle city centre. The town centre is undergoing significant redevelopment with the £100m South Shields 365 project. This will provide a new retail, leisure and cinema development, a new transport interchange and improved public realm. The property is situated in a predominantly residential area on Dean Road, a busy local retail parade. Other occupiers include Ladbrokes, Stage Coach, public houses and numerous local occupiers. The store benefits from being surrounded by numerous local primary and secondary schools. The unit is within short walking distance of Chichester Metro Station and nearby The Port of Tyne.
KEY POINTS Prominently located convenience store Store benefits from a large public customer car park to rear The whole property is let for 16.5 years with no breaks to Martin McColl Limited Total current rents reserved £28,329 pa rising to £31,278 pa on 19th May 2025 Fixed uplifts at 2% pa compounded throughout offering guaranteed rental growth Low passing rent of only £8.50 per sq ft Offers in excess of £450,000 Net Initial Yield of 6.03%, with a Reversionary Yield of 6.65% The building is a brick built end of terrace two storey under pitched slate roof. The retail shop is arranged over the ground floor with ancillary and staff accommodation to the rear and in part of the first floor. The sales area provides a full range of grocery products, bakery, ATM and an off licence. There is a flat on the first floor/attic. This has been sold off on a long leasehold basis.
The premises benefits from a large public customer car park to the rear of the store.
Ground - Sales 1,318 sq ft 122 sq m Ground / First - Ancillary 1,919 sq ft 178 sq m Total NIA 3,237 sq ft 300 sq m Tenure Freehold. The first floor and attic flat has been sold off on a long leasehold.
Tenancy The whole property is let to Martin McColl Limited for a term of 16.5 years from 20th November 2019 on FRI terms and subject to fixed uplifts at 2% per annum compounded throughout. The passing rent is £27,500 per annum. The vendor will top up the rent to £28,329 per annum from completion until 19th May 2020 by way of a reduction in the purchase price.
Rental Uplifts Year Rent Reversionary Yield 19th May 2025 £31,278 pa 6.65% 19th May 2030 £34,533 pa 7.35%
Covenant McColl’s trade from over 1,600 stores throughout the UK with approximately three quarters of those being convenience stores and the remainder trading as newsagents. Their brands include McColl’s, Martin’s and R. S. McColl. For the year ending 26th November 2017 reported a turnover of £713.391 million, a pre-tax profit of £27.168 million and shareholder’s funds of £186.239 million.
The combined group has a turnover in excess of £1.1bn. It employs over 22,000 full and part-time staff and is visited by over 5 million customers every week. The company floated on the London Stock Exchange in 2014. Further information can be found at:
EPC The property has an EPC rating of C73. A copy of the EPC is available on our website.
VAT The property is elected for VAT which will be chargeable on the purchase price. It is anticipated the transaction is to be treated as a transfer of going concern (TOGC).
Proposal We are instructed to seek offers in excess of £450,000 (Four Hundred and Fifty Thousand Pounds) subject to contract for the freehold interest, which reflects a net initial yield of 6.03% assuming purchaser's costs at 4.47%.
Substantial Convenience Store Investment. Let for 16.5 years with no breaks.
Type: Residential, Retail
Mc Coll's Convenience Store, 166 Dean Road, South Shields, NE33 4AQGBTyne and WearNE33 4AQMc Coll's Convenience Store, 166, Dean Road
NE4 6AP The property comprises a mid-terraced four storey building. The main walls are of solid brick construction and the roof is pitched with a slate roof covering which has been recently renewed. The property provides a ground floor retail area and on the upper floors is a spacious 6 bedroom flat with reception room, kitchen and 2 bathrooms. Planning permission was granted for the conversion and the building was extensively refurbished in 2014 (Planning Permission Ref. 2014/0709/01/DET).
Location: Newcastle-upon-Tyne Tenure: Freehold Price: Offers in excess of £350,000
Type: Retail, Flat, Residential
222 Westgate Road, Newcastle Upon Tyne, NE4 6APGBTyne and WearNE4 6AP222, Westgate Road
The property comprises an end terrace building with brick elevations under a flat roof and has been trading as an Italian restaurant since 1961. The property currently trades as Rosa Twelve. Internally the property comprises restaurant seating across basement, ground and first floors offering 150 covers, with kitchen and preparation areas over ground and basement. There is a private function suite at basement level with additional bar area.
Location: Gateshead Tenure: Freehold Footage: 330.82 sq ft Price: Offers in excess of £450,000
Leisure Investment producing £37,500 per annum
Rosa Twelve, 580-580a Durham Road, Gateshead, NE9 6HXGBTyne and WearNE9 6HXRosa Twelve, 580-580a, Durham Road
Four dental practices entirely let to Whitecross Dental Care Limited Whitecross Dental Care Limited last reported £218,090,000 turnover and pre-tax profits of £1,400,000 Experian Credit Risk Score: “Very Low Risk” Total combined rental income of £74,500 per annum Seeking offers in excess of £975,000 reflecting a net initial yield of 7.24%
Location: Newcastle-upon-Tyne Tenure: Freehold Price: Offers in excess of £975,000 (7.24% NIY)
Dental Practice Investment Portfolio - Entirely let to Whitecross Dental Care Limited
Type: Healthcare, Other, Other Property Types & Opportunities
Under Offer Ground flood is let to William Hill Organization Limited Recently re-based rent of £37,500 per annum Four refurbished apartments on upper floors The upper floors generate a further £28,020 per annum Total rental income of £65,520 per annum Prominent position on Front Street, in Chester-le-Street town centre with good transport links Seeking offers in excess of £700,000 reflecting a NIY of 8.91% assuming purchasers costs of 5.3%
The property is situated in the heart of Newcastle city centre, very close to Debenhams & Intu Eldon Square shopping centre, The Grainger Market and the newly constructed Maldron Hotel. The property is located in a prominent position on Clayton Street, close to the junction with Newgate Street. Clayton Street is an improving location, in close proximity to the southern end of the redeveloped InTu Eldon Square, one of the largest city centre shopping destinations in the UK with an annual footfall of 35 million. 150 meters north of the property is The Gate Complex and other retail and leisure occupiers.
Location: Newcastle-upon-Tyne Tenure: Freehold Footage: 2,193 sq ft Price: £250,000
City Centre Retail Investment
Type: Retail, Leisure
81 Clayton Street, Newcastle Upon Tyne, NE1 5PWGBTyne and WearNE1 5PW81, Clayton Street
City Centre Student Residential Investment entirely let to Newcastle University until September 2019 Comprising 56 bedrooms, including 8 studio apartments Located in the heart of Newcastle City Centre very close to both Newcastle and Northumbria Universities Situated in a vibrant city centre location close to Eldon Square Shopping Centre, China Town and The Gate providing an excellent mix of bars and restaurants Rental income of £309,046.70 per annum with a projected income of £349,350 for academic year 2019/2020. Freehold
Location: Newcastle-upon-Tyne Tenure: Freehold Price: Offers in excess of £4,000,000
Investment for Sale - Newcastle City Centre Student Investment Opportunity Comprising 56 bedrooms including 8 studio apartments Currently let to Newcastle University
Albion House St. James Street, Newcastle Upon Tyne, NE1 4NFGBTyne and WearNE1 4NFAlbion House, St. James Street
• 20,160 sq ft (1,872.86 sq m) _ ◦ Available whole or separate rear unit only of 9,768 sq ft • Well established industrial estate • Prominent building with good frontage • Allocated car parking • Good transport links: A690, A1(M) & A19 • Asking Price: £295,000 (£14.63 psf) (as whole) • Available with vacant possession or sale & leaseback
Colliery Lane, Houghton le Spring, DH5 0BG
Type: Industrial, Distribution Warehouse, General Industrial, Industrial Park, Light Industrial, Warehouse, Storage
Aardvark Business Solutions, Unit 20, Colliery Lane, Hetton-Le-Hole, Houghton le Spring, Tyne and Wear, DH5 0BGGBTyne and WearDH5 0BGColliery Lane
Planning consent in place for up to 2,500,000 sq ft (including mezzanine) Highway junction improvements Serviced development plots available now Building construction period from 32 weeks Building footprints available from 100,000sq ft up to 1,200,000 sq ft Up to 28m building heights Up to 15.2 MVA power 1.6m people within 45 minutes drive Enterprise Zone status
Follingsby Lane, Gateshead, NE10 8YA
Type: Distribution Warehouse, General Industrial, Industrial Park, Light Industrial, Warehouse, Storage, Trade Counter, Design & Build, Industrial, Retail, Other Property Types & Opportunities
Follingsby MAX, Follingsby Lane, Gateshead, NE10 8YAGBGatesheadTyne and WearNE10 8YAFollingsby Lane
Prime Position On Busy Thoroughfare Extensive Stand Alone Ground Floor Unit Let To Savers Health & Beauty Plc Expiry: 28th September 2024 Passing Rent: £19,500p.a Offers In Excess Of £230,000 Are Invited
Location The subjects are situated on the West side of Durham Road, South of its junction with Beaconsfield Terrace within Birtley’s town centre. Birtley lies 6 miles south-east of Newcastle-upon-Tyne, to the west of the junction of the A1(M) and A194(M). The property is situated in the town centre shopping area, adjacent to a Morrisons Supermaket. Occupiers close by include Greggs, Ladbrokes, William Hill and Lloyds Bank.
The subjects comprise a single storey, stand alone retail unit of steel framed construction surmounted by a pitched roof with extensive aluminium framed glazed frontage.
Internally the subjects have been decorated in accordance with Savers corporate specification, lighting is provided by way of ceiling mounted fluorescent strips on the suspended ceiling, partitions have been erected to the rear of the demise to form office, staff area, storage and w.c facilities.
Customer parking is provided adjacent to the demise.
Area The property provides the following accommodation and dimensions: Gross Frontage 12.85 m (42' 2") Net Frontage 12.05 m (39' 6") Shop Depth 18.35 m (60' 3") Built Depth 30.75 m (100' 10")
The subjects are currently let on a full repairing and insuring lease on the following terms;
Tenant: Saver Health and Beauty Plc Term: 15yrs from 29/9/2004 Expiry: 28th September 2024 Passing Rent: £19,500p.a.x Further: No approach has been made to the tenant to discuss a lease extension. We understand this unit trades well and would be open to entering into negotiations.
Tenant Information No. of Branches: 230. Website Address: www.savers.co.uk For the year ended 27th December 2014, Saver Health & Beauty plc reported a turnover of £299.925m, a pre-tax profit of £19.565m and a negative net worth of £22.019m. (Source: Experian 22.09.2015.)
Our client is offering their freehold interest in the subjects for offers in excess of £230,000 representing a Gross Initial Yield of 8.5%
The subjects have been elected for V.A.T as such the transaction would be treated as a ToGC ( Transfer of a going concern). Further information available on request.
E.P.C available on request
Each party shall bear their own legal costs incurred in the transaction
The subjects can be viewed during opening hours, detailed viewings can be arranged via the marketing agent.
Title & Lease
Available on request
Savers Investment For Sale - 45 Durham Road, Chester-Le Street
Type: Retail, Office, Retail - High Street, Showroom, Offices, Other Property Types & Opportunities
45 Durham Road, Chester Le Street, DH3 2QJGBChester Le StreetTyne and WearDH3 2QJ45, Durham Road
• 773 sq ft (71.87 sq m) • Freehold investment property • Rental income £5,080 per annum, exclusive • Term: 6 years from January 2019 • Tenant: The Salvation Army • Fronting busy road opposite Tesco Express and Heron Foods • Asking Price: £49,500 . _ ◦ Net initial yield: 10.08% with purchaser's cost at 1.8%
65 Front Street, Sacriston, County Durham DH7 6JW
Type: General Retail, Retail - High Street, Retail - Out of Town, Retail
65 Front Street, DH7 6JWGBDurhamDurhamDH7 6JW65, Front Street
• 5,873 sq ft (546 sq m) • Grade II Listed building • Freehold hotel investment (lease expiry 23 June 2026) • Potential reversionary value for student letting conversion end of lease STPP (up to 16 en-suite rooms) • 11 existing hotel rooms plus bar, reception lobby, dining room, WC's. • Rent: £100,000 per annum, exclusive • Asking Price: £1,495,000 . ◦ (6.30% NIY with purchaser's costs at 6.11%)
34 OLD ELVET, DURHAM CITY DH1 3HN , FREEHOLD HOTEL INVESTMENT
FOR SALE • 840.15 sq m (9,042 sq ft) • Vacant purpose built office property over 4 floors • Modern open plan office space • Parking for 37 cars incl. 2 disabled parking bays ◦ Additional overspill car park / yard included • Excellent transport links: A690, A167 & A1(M) • Recently refurbished to a high specification • Price Quoting: £695,000
TO LET • 2,190 sq ft (203.46 sq m) to 9,042 sq ft (840.15 sq m) • Office building over four floors • Available as a whole or individual floors • Parking for 37 cars including 2 disabled parking bays • Additional land available, via negotiation • Excellent transport links: A690, A167 and A1(M) • Recently refurbished to a high specification • Asking Rent: £7 per sq ft, exclusive
St. Johns Road, West Durham Office Park, Durham, DH7 8RD
Type: Land, Office, Business park, Commercial Land, Offices
One West Durham, St. Johns Road, West Durham Office Park, Durham, DH7 8RDGBDurhamDurhamDH7 8RDSt. Johns Road, West Durham Office Park
• Gross Internal Area: 14,035 sq ft (1,304 sq m) • Net Internal Area: 10,731 sq ft (997 sq m) • Dentist & D1 use to Ground and Office use to First Floor • Fully occupied • Demised car parking • Freehold Interest • Current overall rental income: ◦ £ 139,075 per annum, exclusive • Asking Price: £ 2,000,000 (6.54% net initial yield) ◦ Subject to occupational tenancies
The Cross Gate Centre, Alexandria Crescent, Durham City DH1 4HF
Type: Office, Healthcare, Mixed Use, Research & Development, Other, Offices, Other Property Types & Opportunities
The Cross Gate Centre, Alexandria Crescent, Durham, DH1 4HFGBDurhamDurhamDH1 4HFAlexandria Crescent