Location
This investment property is located within the main parade of shops in the heart of the town centre. Ashington is 15 miles north of Newcastle upon Tyne and was once the centre of the local coal mining industry. Road access to the town is excellent via the A189 Spine Road and there are currently plans underway to reintroduce the local rail service.
The railway line and main passenger station are at the western end of Station Road and work has already commenced with the redevelopment project.
Description
The premises form part of an extensive retail parade and comprise a two storey mid terraced building of traditional red brick construction with a pitched slate roof over.
Accommodation
The property has been measured in accordance with the RICS Code of Measuring Practice and has the following Gross Internal Areas;
Ground Floor
Sales Shop 575 sq.ft. (53 sq.m.)
Offices / Stores 275 sq.ft. (25 sq.m.)
W.C.
First Floor with separate street access
4x Offices 600 sq.ft. (58 sq.m.)
Kitchen 110 sq.ft. (10 sq.m.)
W.C.
Occupational Lease
37 Station Road - Occupied on a 7 year internal repairing and insuring lease dated from 31st May 2022. There is a tenant only break clause at the 3rd and 5th anniversaries. Rent reviews are upward only in line with RPI on the 3rd and 6th anniversaries. A copy of the lease is available for inspection.
37a Station Road - Currently vacant but requires some refurbishment works.
VAT
All figures exclude VAT where applicable.
Services
Electric, water and sewerage are installed and there is also an internal security grille.
EPC
Rating D.
Business Rates
The premises are assessed as follows:
37 Station Road RV £8,100
37a Station Road RV £4,250
Rates free incentives subject to status.
Tenure
We are informed that the title is freehold.
Money Laundering Regulations:
In accordance with the current Anti-Money Laundering Regulations, the Purchaser or Tenant will be required to provide two forms of identification and proof of the source of income.