2 & 4 Station Road Ashington Northumberland NE63 9UJ

2 & 4 Station Road
Ashington
Northumberland
NE63 9UJ

Freehold Retail Investment and Development Opportunity

Comprises two adjoining shops
Part let to New Look Retailers Limited on a new 5 year lease, subject to option, at re-based rent (previous rent £38,500 pax)
Adjoining large shop offered vacant (approx 5,949 sq ft)
Totalling approximately 12,353 sq ft
Prominent town centre corner location
Nearby occupiers include Asda Superstore, Iceland, Boots the Chemist, Superdrug, Card Factory, Greggs, Subway and JD Wetherspoon

Lot
43
Auction
2nd November 2023
Rent
£25,000 per Annum Exclusive
plus turnover rent (3) plus large vacant shop
Status
Sold Prior
Price
Auction Venue
Live Streamed Auction

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Freehold Retail Investment and Development Opportunity

Comprises two adjoining shops
Part let to New Look Retailers Limited on a new 5 year lease, subject to option, at re-based rent (previous rent £38,500 pax)
Adjoining large shop offered vacant (approx 5,949 sq ft)
Totalling approximately 12,353 sq ft
Prominent town centre corner location
Nearby occupiers include Asda Superstore, Iceland, Boots the Chemist, Superdrug, Card Factory, Greggs, Subway and JD Wetherspoon

Lot 43
Auction 2nd November 2023
Rent £25,000 per Annum Exclusive plus turnover rent (3) plus large vacant shop
Status Sold Prior
Price
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 17 miles north of Newcastle, 21 miles north of Sunderland
Roads: A189, A192, A197, A1068, A1147
Rail: Pegswood Train Station
Air: Newcastle International Airport

Situation

The property is situated on the south side of Station Road, an established trading location, at it's junction with North Seaton Road in the heart of the town centre. Nearby occupiers include Asda Superstore, Iceland, Boots the Chemist, Superdrug, Card Factory, Greggs, Subway and JD Wetherspoon.

Tenure

Freehold.

Location

Miles: 17 miles north of Newcastle, 21 miles north of Sunderland
Roads: A189, A192, A197, A1068, A1147
Rail: Pegswood Train Station
Air: Newcastle International Airport

Situation

Tenure

Freehold.

Description

The property comprises two large shops, each arranged on the ground and first floors.

VAT

VAT is applicable to this lot.

Note

Please note the buyer will pay 1.5% excluding VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.

Completion Period

Six Week Completion

EPC

See Legal Pack

Description

The property comprises two large shops, each arranged on the ground and first floors.

VAT

VAT is applicable to this lot.

Note

Please note the buyer will pay 1.5% excluding VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.

Completion Period

Six Week Completion

EPC

See Legal Pack

Tenancy & Accommodation

Address	Floor	Use	Floor Areas Approx sq m (1)	Floor Areas Approx sq ft (1)	Tenant	Term	Rent p.a.x.
2 Station Road	Ground First	Retail/Ancillary Ancillary	331.61 221.10	(3,569) (2,380)	VACANT	-	-
4 Station Road	Ground First	Retail/Ancillary Ancillary	292.38 302.56	(3,147) (3,257)	NEW LOOK RETAILERS LIMITED (2) (t/a New Look)	5 years from October 2023	£25,000 (3) plus turnover rent
Total			1,147.65	(12,353)			£25,000 (3)

(1) Areas provided by VOA (www.gov.uk/find-business-rates)
(2) New Look is a British global fashion retailer that has been established since 1969 and trades from over 400 high street shops across the UK (www.newlookgroup.com).
(3) Under the terms of the lease, the tenant pays £25,000 p.a.x. plus 5% plus VAT of turnover rent, above a certain threshold (please see lease). The lease is subject to a tenant only option to determine on the 3rd anniversary of the term.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.