46/48 Station Road Ashington Northumberland NE63 9XE

  • 46/48 Station Road<br>Ashington<br>Northumberland<br>NE63 9XE

46/48 Station Road
Ashington
Northumberland
NE63 9XE

Freehold Retail Investment

  • Let to Mackays Stores Limited (t/a M&Co) on a new 10 year lease (1)
  • Prominent town centre location
  • VAT-free Investment
  • Part first floor used as a café
  • M&Co in occupation since 1982
  • Lot
    82
  • Auction
    11th July 2018
  • Rent
    £48,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £430,000
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On the Instructions of M&Co.
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Freehold Retail Investment

  • Let to Mackays Stores Limited (t/a M&Co) on a new 10 year lease (1)
  • Prominent town centre location
  • VAT-free Investment
  • Part first floor used as a café
  • M&Co in occupation since 1982
  • Lot 82
  • Auction 11th July 2018
  • Rent £48,000 per Annum Exclusive
  • Status Sold
  • Price £430,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On the Instructions of M&Co.

Property Information

Location
Miles
14 miles north of Newcastle
21 miles north of Sunderland
12 miles south of Amble
6 miles east of Morpeth
Roads
A1, A1068, A189
Rail
Ashington Railway Station
Air
Newcastle Airport
Situation

Ashington is located 14 miles north of Newcastle, 21 miles north of Sunderland, 12 miles south of Amble and 17 miles north-east of Newcastle Airport. The property is located in the town centre on Station Road, close to its junction with John Street. There is a public car park to the rear of the property. Occupiers nearby include Coral, Argos, Wilko, Holland & Barrett, Boots, Savers, Greggs, Heron Foods and O2

Tenure

Freehold.

Location
Miles
14 miles north of Newcastle
21 miles north of Sunderland
12 miles south of Amble
6 miles east of Morpeth
Roads
A1, A1068, A189
Rail
Ashington Railway Station
Air
Newcastle Airport
Situation

Ashington is located 14 miles north of Newcastle, 21 miles north of Sunderland, 12 miles south of Amble and 17 miles north-east of Newcastle Airport. The property is located in the town centre on Station Road, close to its junction with John Street. There is a public car park to the rear of the property. Occupiers nearby include Coral, Argos, Wilko, Holland & Barrett, Boots, Savers, Greggs, Heron Foods and O2

Tenure

Freehold.

Description

The property comprises a ground floor shop together with first floor sales and café. The basement provides further sales and the second floor storage accommodation.

VAT

VAT is not applicable to this lot.

Completion Period

Six week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a ground floor shop together with first floor sales and café. The basement provides further sales and the second floor storage accommodation.

VAT

VAT is not applicable to this lot.

Completion Period

Six week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review
Ground
Basement
First
Second 		Retail
Retail
Retail
Ancillary
285 sq m
296 sq m
284 sq m
295 sq m
(3,067 sq ft)
(3,185 sq ft)
(3,059 sq ft)
(3,175 sq ft)
 MACKAYS
STORES
LIMITED
t/a M&Co (2)		 10 years from completion
on a full repairing and
insuring lease subject to a
schedule of condition (1)		 £48,000 2023 (1)
Total
1,160 sq m
 (12,486 sq ft)     £48,000  

(1) Tenant’s option to determine in the 5th year.
(2) For year ended 24th February 2017, Mackays Stores Limited reported a turnover of £165,611,000, pre-tax profits of £1,100,000 and a total net worth of £36,441,000 (Source: Experian Group 12/06/2018). Mackays Stores Limited is one of the largest privately-owned fashion retailers in the UK. Since inception in the 1960s, M&Co now trades from over 300 stores nationwide with a further 22 stores overseas.

Contacts

Associate Auctioneers
Fawcett Mead 37/38 Margaret Street
London
W1G 0JF
Joe Baio 020 7182 7480 07807 182 7489joe@fawcettmead.co.uk
Seller's Solicitors
Keystone Law 48 Chancery Lane
London
WC2A 1JF
Stephen Kingsley 0203 319 3700stephen.kingsley@keystonelaw.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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