Delta Capital Property Investment is pleased to have completed the sale of 6 and 6a Narrowgate, Alnwick, for £370,000. The price reflects a net initial yield of 7.44% after purchaser’s costs.

The property is an attractive stone-fronted building with a pitched slate roof and a large two-storey extension to the rear. It provides 3,714 sq ft across the ground and first floors, with parking for two to three vehicles. The building is held freehold.

It is fully let to two tenants and produces a total rent of £28,600 per annum. Oxfam occupies the ground floor. The first floor is let to Swansfield Trading Limited, trading as Beehive, an antique and vintage shop, on a new five-year lease.

Narrowgate is one of Alnwick’s main independent shopping streets and sits a short walk from Alnwick Castle. The street has recently been permanently pedestrianised, with new stone paving and granite setts. These works have strengthened its appeal as a retail and leisure destination.

Alnwick is an affluent market town just off the A1, around 33 miles north of Newcastle. Alnwick Castle and Alnwick Garden draw visitors throughout the year, and that footfall supports a strong mix of independent retailers, cafés and restaurants.

If you are considering selling a commercial property investment in Northumberland or across the North East, please get in touch for an informal conversation. Investors can join our mailing list to receive new opportunities, including those offered off-market.

Daniel Capobasso MRICS

Managing Director, Delta Capital Property Investment

T: 07968 618948

E: dc@deltacap.co.uk