21 – 27 & 22 Main Street, Crawcrook, NE40 4TX

FOR SALE BY AUCTION

Guide Price £340,000 Plus

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Fully Let Freehold VAT free Investment producing £38,700 per annum
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Tenants include Co-op and Your Move Estate Agents
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Two retail units, a dance school and residential (sold off leasehold)
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Popular location with good visibility
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Net initial yield 10.98%

Description
Two freehold two story buildings located on opposite sides of Main Street, Crawcrook. 22 Main Street is made up of a retail unit with first floor storage, let to Your Move estate agents together with a dwelling which has been sold of on a long lease.

21/27 Main Street is made up of a Co-op Convenience Store spread over ground and first floors with carpark to the rear. 21/27 also includes a dance school, which includes a small proportion of the ground floor as well as first floor accommodation.

Location
The property is situated in Crawcrook, which is a suburban area located approximately 8 miles to the west of Newcastle City centre. The surrounding area includes various retail units, takeaways and restaurants.

Accommodation
22 Main Street (Your Move) – Ground floor 100.8sq m and first floor 80.7sq m.
22 Main Street Residential – Sold off on 199 Year lease.
21/23 Main Street (Co-op) – Ground floor 305sq m, First floor 36.6sq m & Basement 21.4sq m.
25/27 Main Street (Dance School) – Ground Floor 31.5sq m and first floor 210.5sq m.

Services
As far as we are aware each unit has their own independent services. Interested parties should make their own enquiries into the services available at the property.

Energy Performance Certificate
22 Main Street – Energy Rating D
21/23 Main Street – Energy Rating C
25/27 Main Street – Energy Rating E

Full Certificate are available upon request.
The residential element has been sold on leasehold and therefore an EPC is not required.

Lease Terms
22 Main Street – Let on a lease expiring in March 2026 at a rent of £12,450 per annum.
21/23 Main Street – Let to the Co-op holding over at a rent of £18,000 per annum.
25/27 Main Street – let to an individual holding over at £8,250 per annum.
22 Main Street – Residential sold off under a 199 year lease expiring in 2207 at a peppercorn rent.

Terms

For sale at Savills Auction on Tuesday 18th June. For more information and optional legal pack please see link:

https://auctions.savills.co.uk/auctions/18-june-2024-151/22-and-21-27-main-street-crawcrook-ne40-4tx-11557