Withdrawn
Withdrawn Prior
Sold
Sold Prior
Sold Post
The property comprises a high yielding investment opportunity situated on a popular retail street.
Arranged across ground and first floors, the property is fully let to New Look Retailers Limited on a new five year lease from October 2023. The passing rent is £25,000 per annum with additional rent payable equivalent to 5% plus VAT of the store turnover. We understand the store turnover in September 2023 was £34,858.33 exclusive of VAT, which would equate to £1,742.91 in additional rent for September alone.
Station Road is the principal retail amenity of Ashington and is predominantly pedestrianised. Local occupiers include Heron Foods, Superdrug, Boots and Iceland with an Asda Superstore in close proximity.
Tenure
Freehold
Tenancy
The property is fully let to New Look Retailers Limited on a new five year lease from October 2023, there are therefore approximately five years unexpired. The passing rent is £25,000 per annum with additional rent payable equivalent to 5% plus VAT We understand the store turnover in September 2023 was £34,858.33 exclusive of VAT, which would equate to £1,742.91 in additional rent for September alone and approximately £20,000 per annum.
The lease is on full repairing and insuring terms.
Rent