Commercial Property For Sale
Investments
Investment & Development Opportunity
Gosforth
£1,250,000 (Freehold)
REF: NE2182
Location
Newcastle upon Tyne is located approximately 270 miles north of London and circa 105 miles south of Edinburgh. The city benefits from excellent road communications, being immediately adjacent to the A1(M) and at the hub of the North East road network.
Rail communications are also excellent, with a busy railway station on the East Coast mainline which provides direct services between Edinburgh Waverley and London Kings Cross.
Newcastle International Airport is just over 5 miles from Gosforth and provides daily flights to the main domestic and major European cities plus Dubai, which opens the region up to the Far East.
Gosforth is one of the most desirable areas of Newcastle and is popular with families, young professionals and retirees. The High Street has an excellent selection of both multiple and independent traders and there are also attractive amenities that include Gosforth Central Park and South Northumberland Cricket Club.
Parking is available via the local ticketed car parks or free on street parking, subject to permits.
Description
This investment and development opportunity comprises a substantial 4 storey terrace of traditional red brick construction with a slate tiled roof over.
On the ground floor there are 3 retail units, 2 of which are self-contained with long-term tenants and the other is currently vacant and subject to the successful planning application. There is a basement that runs under the whole of the property.
The upper floors are also configured to provide 3 separate spaces. 2 of the spaces are residential and 1 of those (#196) is a large maisonette which is rented out and occupied by way of an AST.
The other residential space (#192a) is vacant and has been combined with the other vacant upper floors (#192 - 194) to form the layout for the successful planning application.
The planning application and plans can be viewed on Newcastle City Council planning portal under reference 2025/1541/01/DET.
Occupational Leases
Tenancy schedule on next page.
Current Commercial Elements:
188 High Street trades as a Tattoo Studio and the current income is £19,250 per annum.
198 High Street trades as a Nail Bar and the current income is £20,500 per annum.
192 - 194 High Street currently vacant and previously generated an income of £26,300 per annum.
Current Residential Elements:
196 High Street comprises a 3 bed maisonette generating £1,100 pcm (£13,200 pa).
192a High Street comprises a 3 bed maisonette in need of some modernisation. Estimated income following works would be similar to #196.
Proposed Development Opportunity
The planning permission that has been granted would allow for part of the property (#192 – 194) to be converted into a separate ground and basement retail unit with 4 flats on the floors above. The flats would comprise 2x 2 bed flats and 2x 1 bed flats.
Rental Commentary
If the site was developed as per the plans approved then, based on the current market evidence, the combined income from the reconfigured retail space and new flats is projected at circa £50,000 per annum. Adding this to the existing secured income would produce an ERV exceeding £100,000 per annum.
Rateable Values
#188 High Street RV £16,500 (£17,000 2026 list).
#198 High Street RV £15,000 (£15,750 2026 list).
#192-194 High Street RV £24,250 (£25,000 2026 list).
Asking Price
Offers in excess of £1,250,000 are sought for the freehold interest.
Money Laundering
In accordance with current Anti-Money Laundering Regulations, the Purchaser will be required to provide two forms of identification and proof of the source of income.
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