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
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 Available
Guide* £325,000 - £350,000
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
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.
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
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.
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.
