This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
Hanover Mill
1,376 SF Retail Unit Offered at £185,000 in Newcastle Upon Tyne NE1 3RF
Investment Highlights
- Quayside location
- It is a short walk from Newcastle Central Railway & Metro Stations and is also close to the Stephenson Quarter Development
- The Close is a busy vehicular route from the City centre towards the Swing Bridge
Executive Summary
The property comprises a ground floor property within a seven-storey building. The upper floors are in residential use. The building is modern and benefits from a fully glazed frontage. The property is situated on The Close, which lies at the bottom of Forth Banks, on Newcastle Quayside and opposite the Copthorne Hotel. The Close is a busy vehicular route from the City centre towards the Swing Bridge. It is a short walk from Newcastle Central Railway & Metro Stations and is also close to the Stephenson Quarter Development, including the Crowne Plaza Hotel, 360 space multi-storey car park and Northumbria Police Headquarters.
Property Facts
| Price | £185,000 | Sale Type | Investment |
| Unit Size | 1,376 SF | Building Class | B |
| No. Units | 1 | Number of Floors | 9 |
| Total Building Size | 14,380 SF | Typical Floor Size | 14,380 SF |
| Property Type | Retail (Unit) | Year Built | 2008 |
| Property Subtype | Storefront Retail/Residential | Lot Size | 0.80 AC |
| Price | £185,000 |
| Unit Size | 1,376 SF |
| No. Units | 1 |
| Total Building Size | 14,380 SF |
| Property Type | Retail (Unit) |
| Property Subtype | Storefront Retail/Residential |
| Sale Type | Investment |
| Building Class | B |
| Number of Floors | 9 |
| Typical Floor Size | 14,380 SF |
| Year Built | 2008 |
| Lot Size | 0.80 AC |
1 Unit Available
Unit 102
| Unit Size | 1,376 SF | Sale Type | Investment |
| Price | £185,000 | Tenure | Long Leasehold |
| Price Per SF | £134.45 | Net Initial Yield | 9.81% |
| Unit Use | Retail | NOI | £18,148.50 |
| Unit Size | 1,376 SF |
| Price | £185,000 |
| Price Per SF | £134.45 |
| Unit Use | Retail |
| Sale Type | Investment |
| Tenure | Long Leasehold |
| Net Initial Yield | 9.81% |
| NOI | £18,148.50 |
Description
The property comprises a ground floor property within a seven-storey building.
Internally, it is a mix of open plan and cellular accommodation, with carpeted floor, suspended ceiling with integral lighting and heating/air conditioning. It also benefits from its own integral w.c.’s which are of a high standard and a small kitchenette as well as an intruder alarm and fire alarm.
Sale Notes
Long leasehold interest in the property, subject to the existing tenancy is available at £185,000. A sale at the asking price would equate to a gross initial yield of 9.81%.
The property is held by way of a long leasehold interest of 999 years beginning on 16 November 2017 at a peppercorn rent.
Interior
Interior
Interior
Amenities
- Bus Route
- Security System
- Signage
- EPC - D
- Air Conditioning
Nearby Major Retailers
Presented by
Hanover Mill
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.