The property comprises a substantial three storey building with net internal floor area of approximately 9,608 sq ft, situated in the heart of Whitley Bay town centre, close to Park View Shopping Centre and national retailers including Sainsbury’s, Iceland, Greggs, Newcastle Building Society and William Hill, among others. Situated in a prominent corner position, there are frontages to the building on South Parade and Whitley Road. The property is less than 0.5 miles from the iconic Spanish City & sea front. Morrisons Supermarket is also nearby.
Flats 1-4, 1-3 South Parade have been newly refurbished to a high standard and could be suitable for both tenants and owner occupiers. All apartments comprising a large open plan living space with lounge, dining area and kitchen as well as two bedrooms; one of which has an en-suite plus separate family bathroom. If marketed, we would expect them to each attract rents of around £650 pcm.
The flats at 7a and 7b South Parade are extremely large at around 1,173 sq ft per apartment. Both flats are two beds and we suspect there may be opportunity to add value in the future by refurbishment or breaking up into a greater number of smaller flats.
The roof covering and windows throughout the upper floors have all been replaced very recently.