Retail in NE61
Newgate Street, Morpeth, Northumberland, NE61 1DA
Online auction
Alternatively call 0191 580 1587 or email commercial@pattinson.co.uk
- Commercial investment portfolio
- 4x commercial retail/office units
- 2x units currently tenanted
- Generating £26,000 per annum
- Desirable town centre location
- To be sold freehold (please refer to legal pack)
Retail in NE61
*For sale via secure sale online bidding: terms and conditions apply.*
We are pleased to offer to auction this substantial commercial portfolio, excellently located along the popular Newgate Street, Morpeth town centre. The portfolio comprises 4x commercial units, including a vacant retail unit, a tenanted cafe, a former florists, and upper floor office accommodation let to a performing arts charity. The 2x tenanted units are currently generating incomes of £11,500 per annum and £3500 per annum (totalling £15,000 per annum combined).
Video Tour Available!
Summary
- Property Type: Retail
- Parking: Allocated
Location
The subject property is located along Newgate Street, Morpeth. It is a short walk away from Morpeth town centre where you'll find local shops, restaurants and all other amenities. The property is right next to the River Wansbeck where you can go for scenic walks.
Rateable Value
The adopted rateable values are as follows (sourced from VOA).
50 Newgate Street: £5,200
52 Newgate Street: £10,500
54 Newgate Street: £10,500
First/second floors, 54 Newgate Street: £6,400
Tenure
Currently pending first application - please refer to the legal pack for full title details.
Accommodation
50 Newgate Street
Ground, first and second floor retail/showroom space measuring 152.80sqm (1,645sqft).
52 Newgate Street
Ground floor cafe premises measuring 107.05sqm (1,152sqft)
54 Newgate Street
Ground floor retail accommodation measuring 118.70sqm (1,278sqft)
54a Newgate Street
First and second floor office accommodation measuring 77.90sqm (839sqft).
EPC
All available upon request (ratings C, D, C, E).
Additional Information
For further information please contact our office direct on 0191 737 1154, or alternatively via e-mail on commercial@pattinson.co.uk. With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.
This property is being sold subject to conditional reservation fee auction terms and conditions.
Timescales
Contracts must exchange within 28 days with a further 28 days to complete the purchase.
Legal Pack
A legal pack is available to download. Special conditions may apply. We strongly recommend buyers familiarise themselves with the legal pack prior to bidding.
Buyer Fees
This property is sold subject to a non-refundable reservation fee of 3% inc VAT to a minimum of £3,000. This does not form part of the purchase price.
More Information
For more information call our auction experts on 0191 206 9335 or email auctions@pattinson.co.uk
ONLINE AUCTION NOTICE
I hereby acknowledge and confirm the following:
My bid may be accepted by the seller at any time before the close of the auction. It is subject to the terms and conditions of the auction which I have read and understood. I have read and understood the legal pack applicable to my bid/lot and agree to be bound by any special conditions within that pack.
If my bid is successful (whether as the highest bid or upon acceptance by the seller in the course of the auction) I shall be bound by the lot terms and conditions as advertised online.
Any amount payable at the close of the auction must be paid within 1 hour.
Please note that the bidding process will work in a different way to an eBay auction, so there is NO advantage to bidding at the last second.
Each auction will automatically stay open until there has not been a bid within the final 10 minutes. If no bid has been submitted within the final 10 minutes of the auction, the auction will close and the highest bidder will be successful subject to the reserve price being met or upon acceptance of an offer by the seller throughout the auction cycle. If there is another bid within 10 minutes of the last bid, the auction countdown timer will be restarted for another 10 minutes to allow further bidding. This system avoids last-minute (or second) bidding and makes for a fairer auction as in a live-room auction situation.
Please bid in good time before the end of the auction, delaying your bid to the last seconds may disadvantage you if your connection slows or you lose internet connectivity.
The auctioneer is not responsible for any tech issues, power outage or error messages which hampers or eliminates an individual's opportunity to bid.
It is the bidder's responsibility to ensure the bid has been lodged with the auctioneer. It is therefore beneficial to bid on your chosen lot at your earliest opportunity.
The auctioneer accepts no responsibility for bids that are not received or are received late and reserves the right to reject any bid without notice.
Minimum online bidding increments:
£50,000 - £250 minimum bid
£50,001 to £150,000 - £500 minimum bid
£150,001 to £250,000 - £1,000 minimum bid
£250,001 to £750,001 - £2,500 minimum bid
£750,001 to £1.5 Million - £5,000 minimum bid
£1.5 Million Plus - £10,000 minimum bid
Please note this bidding process applies specifically to online auctions.
More Information is available:
For more information call our auction experts on 0191 206 9335 or email auctions@pattinson.co.uk
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