The Annex, Moor Court Westfield Gosforth Newcastle-upon-Tyne NE3 4YD

The Annex, Moor Court
Westfield
Gosforth
Newcastle-upon-Tyne
NE3 4YD

Freehold Mixed-Use Investment in Affluent Newcastle Suburb

Comprises an Indoor Golf Driving Range & Studio, a large separately-accessed 2-bed residential flat and 11 garages (5 let to individuals, 4 vacant & 2 let within golf studio lease)
Golf Studio let to The Golfhub Ltd until February 2025
Flat let on AST (circa 900 sq ft)
Development/Change of Use Potential (subject to usual consents)
Affluent Newcastle suburb
Overlooking Town Moor and adjacent to Kwik Fit, Dukes Moor Garage and Hii Club Gymnasium
VAT-free investment

Lot
46
Auction
25th September 2024
Rent
£24,204 per Annum Exclusive
plus 4 Vacant Garages
Status
Sold
Price
£405,000
Auction Venue
Live Streamed Auction

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Freehold Mixed-Use Investment in Affluent Newcastle Suburb

Comprises an Indoor Golf Driving Range & Studio, a large separately-accessed 2-bed residential flat and 11 garages (5 let to individuals, 4 vacant & 2 let within golf studio lease)
Golf Studio let to The Golfhub Ltd until February 2025
Flat let on AST (circa 900 sq ft)
Development/Change of Use Potential (subject to usual consents)
Affluent Newcastle suburb
Overlooking Town Moor and adjacent to Kwik Fit, Dukes Moor Garage and Hii Club Gymnasium
VAT-free investment

Lot 46
Auction 25th September 2024
Rent £24,204 per Annum Exclusive plus 4 Vacant Garages
Status Sold
Price £405,000
Sector
High Street Retail, Residential, Development
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 2 miles north of Newcastle City Centre, 12 miles north-west of Sunderland
Roads: A1 (Junction 77), A167, A189, A193
Rail: Ilford Road and West Jesmond Underground Stations
Air: Newcastle International Airport

Situation

The property is situated on the south side of Westfield, close to Kenton Road and Montagu Avenue, in the heart of Gosforth, an affluent suburb of Newcastle-upon-Tyne, approximately 2 miles north of the City Centre. The property benefits from excellent communication links being close to both Ilford Road and West Jesmond Underground Stations and surrounding the property is a Kwik Fit, Dukes Moor Garage and Hii Club Gymnasium.

Tenure

Freehold.

Location

Miles: 2 miles north of Newcastle City Centre, 12 miles north-west of Sunderland
Roads: A1 (Junction 77), A167, A189, A193
Rail: Ilford Road and West Jesmond Underground Stations
Air: Newcastle International Airport

Situation

Tenure

Freehold.

Description

The property comprises an indoor golf driving range & studio arranged on the part first, second and third floors, a separately-accessed 2-bed residential flat arranged on the first floor and 11 garages arranged on the ground floor.

VAT

VAT is not applicable to this lot.

Completion Period

30th October 2024

EPC

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

Description

VAT

VAT is not applicable to this lot.

Completion Period

30th October 2024

EPC

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

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.
First Second Third (plus 2 Garages, Nos. 6a & 7)	Golf Studio Golf Studio Golf Studio	108.33 31.80 31.40	(1,166) (342) (334)	THE GOLFHUB LTD (1) (t/a The Golf Hub)	5 years from 27/02/2020	£10,000
First	Residential - 2-bed flat	83.00	(893)	AN INDIVIDUAL	12 month AST from 25/08/2021 at £850 pcm	£10,200
Ground	5 Garages (Garage Nos. 1, 2, 3, 5, 11)	-	-	FIVE INDIVIDUALS	Let on five agreements at £1,040 pa, £624 pa, £780 pa, £520 pa and £1,040 pa	£4,004 (total)
Ground	4 Garages (Garage Nos. 4, 9, 10 & 12)	-	-	VACANT	-
Total		254.53	(2,735)			£24,204 plus 4 Vacant Garages

(1) The Golfhub provides state-of-the-art indoor golf studios and offer tailored coaching to golf professionals and enthusiasts. They have two golf simulators in this branch, and also trade from other locations in Nottingham, Long Eaton, Northumberland (x2), Derby, Chepstow and Calderfields (www.elitegolfacademies.com).

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.