Retail premises for sale in Newgate Street, Morpeth NE61

Summary

*For sale via secure sale online bidding: Terms and conditions apply.*

We are pleased to offer to auction this substantial commercial portfolio, excellently located along the popular Newgate Street, Morpeth town centre. The portfolio comprises 4x commercial units, including a vacant retail unit, a tenanted cafe, a former florists, and upper floor office accommodation let to a performing arts charity. The 2x tenanted units are currently generating incomes of 11,500 per annum and 3500 per annum (totalling 15,000 per annum combined).

Video Tour Available!

Location

The subject property is located along Newgate Street, Morpeth. It is a short walk away from Morpeth town centre where you'll find local shops, restaurants and all other amenities. The property is right next to the River Wansbeck where you can go for scenic walks.

Rateable Value

The adopted rateable values are as follows (sourced from voa).
50 Newgate Street: 5,200
52 Newgate Street: 10,500
54 Newgate Street: 10,500
First/second floors, 54 Newgate Street: 6,400

Tenure

Currently pending first application - please refer to the legal pack for full title details.

Accommodation

50 Newgate Street
Ground, first and second floor retail/showroom space measuring 152.80sqm (1,645sqft).

52 Newgate Street
Ground floor cafe premises measuring 107.05sqm (1,152sqft)

54 Newgate Street
Ground floor retail accommodation measuring 118.70sqm (1,278sqft)

54a Newgate Street
First and second floor office accommodation measuring 77.90sqm (839sqft).

EPC

All available upon request (ratings C, D, C, E).

Additional Information

For further information please contact our office direct on , or alternatively via e-mail on . With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.

Auctioneers Additional Comments

Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.

Please be aware that any inquiry, bid or viewing of the subject property will require your details to be shared between both the marketing agent and The Auctioneer in order that all matters can be dealt with effectively.

This auction lot is being sold either by, conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.

The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via The Auctioneers or the Marketing Agents website.

Auctioneers Additional Comments

Your details may be shared with additional service providers via the marketing agent and/or The Auctioneer.

A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers' obligations and sellers' commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification and identity process in accordance with Anti Money Laundering procedures.

Auctioneers Additional Comments

In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit of 5% of the purchase price of the lot subject to any special conditions detailed in the legal pack. The deposit will be a contribution to the purchase price. A non-refundable reservation fee may also be payable upon agreement of sale (Details of which can be obtained from the auctioneers website). The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.

Both the Marketing Agent and The Auctioneer may believe it necessary or beneficial to the customer to pass your details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.