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Under offer

Investment / Offices

Summerhill Square £450,000 Freehold REF: NE1648

Introduction

10 Summerhill Terrace is an attractive Georgian building forming part of a terrace on the eastern perimeter of Summerhill Park. Designed and built under design specifications laid out by Jonathan Priestman, the property dates from the late 1830’s.

Location

The property forms part of a terrace within the Summerhill Conservation Area which is based around a late Georgian residential suburb and climbs the hill westwards out of Newcastle City centre.  The Square is an unique environment within easy walking distance of the City centre and there are also good public transport links nearby. 

The terraced properties within the Square overlook a central green space which comprises a public park, a bowling green and private gardens for the houses.

Newcastle grew from Roman (or possible earlier) origins, at an important defensive and bridging point in the Tyne Valley, to become the regional capital.  The wealthy coal, manufacturing and ship-building industries brought huge population growth and physical expansion during the late 18th and 19th centuries.

 Newcastle upon Tyne is located approximately 285 miles north of London and approximately 100 miles south of Edinburgh and is the commercial and administrative capital of the North East. 

Newcastle is the seventh largest City in the UK with a population of circa 280,000 and 1.4 million people live within 12 miles of the City centre.

Newcastle benefits from excellent road, rail and air connections with Newcastle Central Station serving the East Coast mainline and providing a fastest journey time of 2hrs 50mins to London Kings Cross and 1hr 30mins to Edinburgh Waverley. 

The Central Station provides the main interchange for the Tyne & Wear Metro rapid transit railway network which supports 60 stations connecting Newcastle with Gateshead, Sunderland and throughout Tyneside.

Newcastle International Airport is situated approximately 7 miles west of City centre proving regular flights to key domestic and international destinations including Dubai.

Description

The property comprises a three storey, four floor mid terrace building overlooking Summerhill Park to the west of the City centre.  The property is in good order throughout and whilst currently providing a modern office facility, the property could be considered for other alternative uses including a possible residential conversion. Accommodation comprises;

Lower Ground Floor

Office              440 sq.ft. (41 sq.m.).

Office               215 sq.ft. (20 sq.m.).

Stores

Kitchen

2 x W.C’s

Ground Floor

Reception         290 sq.ft. (27 sq.m.).

Boardroom       269 sq.ft. (26 sq.m.).

Office               215 sq.ft. (20 sq.m.).

Office               160 sq.ft. (15 sq.m.).

W.C.

First Floor

Office               580 sq.ft. (54 sq.m.).

Office               215 sq.ft. (20 sq.m.).

Office               110 sq.ft. (10 sq.m).     

2 x W.C.’s

Second Floor

Offices             345 sq.ft. (32 sq.m.)

Toilet & Shower Room  

External

There is a private and secure car park to the rear with space for 8 - 10 cars.

Services

There is mains water, sewerage and electricity into the property.  Heating is by way of a gas boiler which also serves the hot water supply.

Rateable Value

RV £12,500.  Rates incentives available.

EPC

The property has a D rating

Occupational Lease

There is currently a tenant on a 12 month rolling licence paying a rent of £2,844 plus VAT per month.

Asking Price

Offers in the region of £450,000 plus VAT are sought for the freehold interest.

Viewings

Strictly be appointment with this office.

Money Laundering

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.

Agents Notes

The sales particulars contained herein are intended for the guidance of intended purchasers and lessees and do not form any part of an offer or contract. All descriptions and any details are given without any responsibility on the part of North East Commercial or their vendor client and any intended purchaser or tenant should satisfy themselves to the correctness of any statements contained in the Sales Particulars prior to making an offer by inspection or otherwise. Neither North East Commercial nor their employees make or give any warranty whatsoever in relation to the business or property described herein.

 

 

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