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Units 1-4, Front Street & Tyne View Terrace, Prudhoe, NE42 5HJ
15,488 Sq Ft / Retail / General Retail
Withdrawn - Last updated: 13 December 2023
Key Points
Proposal
We are instructed to seek offers in excess of £490 000 (Four Hundred and Ninety Thousand Pounds) subject to contract and exclusive of VAT A purchase at this level reflects an attractive Net Initial Yield of 11.02% on the current contracted income assuming purchaser’s costs 4.66%.
Location
Prudhoe is an established commuter town situated approximately 11 miles to the west of Newcastle city centre The town forms part of the Tyne and Wear conurbation and has a population of circa 11,675 2011 census) The town is well served by road communications via the A695 link road which connects Blaydon to the south east The town is served by Prudhoe railway station on the Newcastle and Carlisle Railway, also known as the Tyne Valley Line Newcastle International Airport is approximately 13 miles to the north and provides daily scheduled flights to both domestic and international destinations.
The property is situated centrally within Prudhoe with an extensive frontage to Front Street Access to the rear of the property is situated on Tyne View Terrace, connecting to the industrial units and car parking Front Street forms the town’s main high street and provides a linear focal point to the own’s retail provision The property provides the dominant retail provision within the town The surrounding area is predominantly residential with nearby occupiers on Front Street including national multiples such as Lloyd’s Bank and Co Op, Greggs, Boots in addition to local independents.
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