Retail premises for sale in Westgate Road, Newcastle Upon Tyne NE4

Key Points

Description

The subject property comprises a two-storey building of brick construction under a pitched tile roof and dating back to the early 1950’s. Moulin Rouge Café & Grill occupy the ground floor which provides a reasonably sized customer seating area with kitchen and WC facilities. The upper parts provide a one bed residential flat with living area, kitchen and WC facilities and benefits from having a separate access facing directly onto Greenfield Place. The property benefits from having a hot food licence in place along with being positioned on the end of terrace providing return frontage.

Location

The subject property is situated on Westgate Road on the west side of Newcastle City Centre. Newcastle Central Station is only a short walking distance to the south east which also has a Metro Station providing access to Newcastle International Airport, the Coast, Gateshead and Sunderland. Westgate Road has direct access to the A189 which in turn joins the A184 and A1(M), one of the main road networks north and south.

The surrounding area provides a mixture of uses including residential, office, retail and leisure accommodation. There have been a number of recent improvements and developments on the west side of the city including a duelling of St James’ Boulevard and a number of Grade A office development and mixed-use schemes which include the likes of The Lumin, The Helix and Strawberry Place to name a few. St James’ Park, Discovery Museum, Lane 7, Pure Gym and Newcastle University are all within close proximity to the subject property. The area will be further enhanced by the addition of the Stack development (Fan Zone) which is to be situated adjacent to St James’ Metro Station and the football stadium.

Terms

Offers in excess of £175,000 (One hundred and Seventy Five Thousand Pounds) are invited for the benefit of our clients freehold interest which represents a Net Initial Yield of 8.73% taking into account reasonable purchaser’s costs at 2.09%.