Rickard Chartered Surveyors
Tel: 01670 513533
Fax: 01670 518398
25 Newgate Street
Morpeth
Northumberland
NE61 1AW
Newgate Street, Morpeth
Price £380,000
Commercial
- THREE STOREY MID TERRACE PROPERTY
- INVESTMENT OPPORTUNITY
- TOWN CENTRE
- FULLY OCCUPIED
A three storey mid terraced commercial investment with rear yard and vehicle access, situated in a prominent position on Newgate Street in the heart of Morpeth Town Centre. The property is currently fully let, producing a gross yield of approximately 9.37%, with further potential offered by the rear yard, subject to the necessary planning and building regulation approvals.
The accommodation is arranged over three floors, with the ground floor currently occupied by a charity retail unit and creative craft studio, a dental practice occupying the first floor and a dental technician operating from the second floor.
The property benefits from a private rear yard with vehicle access, providing useful ancillary space and potential for future development or alternative use, subject to the necessary consents.
Situated on Newgate Street, the property benefits from excellent pedestrian footfall and a prominent town centre position, with a wide range of independent and national retailers, professional services, cafés and other amenities within the immediate vicinity. Morpeth is an established market town serving a wide surrounding area and benefits from good transport links to Newcastle and the wider Northumberland area.
The property is individually assessed for business rates, with the current assessments subject to the Valuation Office Agency's terms.
The freehold interest is available at a guide price of £380,000, representing a gross initial yield of approximately 9.37% based on the current rental income.
LOCATION PLAN
EXTERNAL
Although these particulars are thought to be materially correct their accuracy cannot be guaranteed and they do not form part of any contract.
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