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    Key features

    • To be offered on Wednesday 21 October
    • High Yielding Retail Investment
    • Retail Unit and Two-Upper Storeys
    • Fully-Let Until 2036
    • Well-Located in Ashington Town Centre
    • Located on a High Footfall Street
    • Comprises 6,862 sq ft (637.50 sqm)
    • Investment Let at £26,500 per annum (12.92% GIY on Guide Price)

    Description

    The property comprises a ground and first floor retail unit let to Sense, who trade from the ground floor and use the first floor for storage and back of house facilities. The second floor is self-contained and accessed via a ground floor entrance on to Station Road. It comprises a large open-plan room for the studio along with some ancillary rooms.

    Additional information

    Tenure

    Freehold

    Accommodation

    Ground Floor: Shop 3,056 sq ft (283.90 sqm)

    First Floor: Ancillary 2,532 sq ft (235.20 sqm)

    Second Floor: Dance Studio 1,274 sq ft (118.40 sqm)

    Total Area: 6,862 sq ft (637.50 sqm)

    Tenancy

    The ground and first floors are let entirely to Sense the National Deafblind and Rubella Association on a lease expiring 11.07.2036. The lease is subject to a break clause and an RPI-linked review in 2031. The passing rent is £23,500 per annum.


    The second floor is let to The Gladwin School of Dance and Drama on a lease expiring 06.10.2036. The lease is subject to an RPI-linked review in 2031 with no break clause. The passing rent is £3,000 per annum.

    Rent

    £26,500 per annum

    Notes

    Please note the areas provided are approximate. The photos and any drawings are for illustrative purposes only and may not reflect the exact boundary of the property. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard.


    Please refer to the legal pack. Additional charges and fees might be charged by the seller and/or other third parties. You are strongly advised to read the Special Conditions of Sale for the Lot prior to bidding to check for any additional charges and fees.

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      The property occupies a central position on Station Road, Ashington's principal retail and commercial thoroughfare, within the town centre and close to a range of retail, leisure and community occupiers. [loopnet.co.uk], [loopnet.com]

      Transport

      The property is within walking distance of Ashington Bus Station and nearby bus stops on Station Road, providing regular services to Newcastle upon Tyne and surrounding Northumberland towns. It also benefits from convenient access to the A189 and A197 road networks.

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •Some properties might be open to offers prior to auction. Exchange will take place, subject to contract and no higher offers, on auction terms and as per the legal pack. Please contact the auctioneer with your best and final offer, their details can be found on each lot page.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums