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    Key features

    • To be offered on Wednesday 28 February
    • Freehold retail investment opportunity
    • Comprising a terrace of three retail units (excluding number 438)
    • All let producing a combined rental of £35,100 per annum.
    • Tenants include Betfred, Heron Foods and Parkside Pharmacy.
    • Busy main road position and just 2.8 miles east of the city centre

    Additional information

    Tenure

    Freehold

    Rent

    £35,100 per annum

    Notes

    54% (£19,000 per annum) of the income is secured to Heron until July 2028.

    Heron Foods Limited recent accounts for the year end 25th March 2023 reported a turnover of £490 million, net profit of £13.2 million and shareholders funds of £86 million. 

    Parkside Pharmacy Limited was established in 2003 their most recent filed accounts for the year end 30th June 2022 reported total equity of £998,347. 

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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.

      Accommodation / Tenancy Schedule

      Local information

      Situated to the north side of Welbeck Road, close to the junction with Leicester Street.

      Forming part of a busy secondary retail thoroughfare, serving a densely populated residential catchment area.

      Other nearby occupiers include Greggs Bakery, Costcutter and Planet Pizza together with several other local traders.

      Newcastle City Centre is less than three miles to the east.


      Transport

      Newcastle Station - National Rail

      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.

      •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