The property comprises a high yielding mixed-use investment opportunity occupying a prominent corner pitch and offering a number of asset management opportunities.
Arranged as three retail units with a two bedroom flat to the upper parts, the property is fully let to four separate tenants and producing £18,890 per annum.
2A Tynemouth Road is let to Meat Premier Outlet Limited on a five year lease expiring 23.06.2026 and paying £4,940 per annum. The tenant did not exercise their 2024 break option displaying confidence in the location.
4 Tynemouth Road is let to a private individual trading as a Hairdresser on a recently signed five year lease expiring 09.05.2029 and paying £4,750 per annum.
2B Churchill Street is let to Funeral Partners Limited, a national business with over 280 funeral homes, on a 15 year lease expiring 15.05.2032 and paying £5,000 per annum.
4A Churchill Street comprises a two bedroom flat and has been let on a periodic tenancy to the same tenant for 30+ years. The AST allows for annual rent reviews and the current rent is £4,200 per annum.
The property occupies a prominent corner pitch on a high footfall street, the area comprises the principal retail amenity for Howdon with nearby tenants including Greggs, Heron Foods and Best One.
