Retail / leisure investment in Morpeth

SUBSTANTIAL RETAIL & LEISURE INVESTMENT

Recent lease extensions completed providing strong sustainable income in an affluent Market Town

6 Market Place, Morpeth, Northumberland, NE61 1HG

INVESTMENT SUMMARY

• Entirely let to Peacocks Stores Limited and local Chinese restaurant

• Generating a total rent of £80,000 per annum, WAULT to break 4.63 years, lease end 6.03 years

• Located in Morpeth, an attractive and affluent market town in Northumberland

• Located on Market Place, which is considered the historic heart of Morpeth, immediately next to Tomahawk Steak House

• Total floor area of 682 sqm / 7,344 sq ft over ground, first and second floors

• The property has an EPC rating of C

• Freehold

We are instructed to seek offers in excess of £945,000 (exclusive of VAT), reflecting a net initial yield of 8.00% assuming standard purchasers' costs of 5.69%.

A sale at £945,000 reflects a low capital value of only £129 psf.

LOCATION

Northumberland, a county in North East England bordering Scotland, is home to a population of just over 319,000 people. Its stunning countryside, including the Northumberland National Park, historic castles and villages, and picturesque beaches like Bamburgh and Embleton, make it a popular tourist destination.

Morpeth, an affluent market town approximately 14 miles north of Newcastle, is Northumberland's county town and administrative centre, with a population of around 14,000. It enjoys a good retail position, with nearby occupiers including Saks, Boots, WH Smith, and many other national and local operators.

Morpeth is well-connected by rail and road. The town has its own train station, which is served by Northern Rail trains to Newcastle upon Tyne, Edinburgh, and Berwick-upon-Tweed. Morpeth is also located close to the A1 trunk road, which links the town to Newcastle upon Tyne, Edinburgh, and London.

Morpeth's rail network provides direct connections to Edinburgh, Newcastle, York, Leeds, and London. Train times from Morpeth to these cities are as follows:

• Newcastle – Approximately 30 minutes

• Edinburgh – Approximately 1 hour 30 minutes

• York – Approximately 2 hours

• Leeds – Approximately 2 hours 30 minutes

• London – Approximately 3 hours 30 minutes

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Morpeth is a thriving market town with a mix of independent and national shops. The town is also home to a number of historical landmarks, including Morpeth Castle, Morpeth Bridge, and the Morpeth Chantry Bagpipe Museum.

SITUATION

The building is located on Market Place, which is considered the historic heart of Morpeth. It has been a market place since at least the 12th century, and received a market charter from King John in 1200. The market was originally held on a weekly basis and attracted traders from all over Northumberland and beyond.

Over the centuries, the market has evolved to include a wider range of goods and services. Today, Morpeth Market is held every Wednesday and Saturday, and offers a variety of stalls selling fresh produce, meat, fish, baked goods, flowers, and crafts. There are also a number of permanent shops located around the market square, including butchers, bakers, and greengrocers.

In addition to its commercial function, Market Place is also a popular social space for the local community. The square is often used for community events and festivals, such as the annual Morpeth Northumbrian Gathering.

DESCRIPTION

The building at 6 Market Place, Morpeth is a two-storey, mid-19th century commercial property with a rendered facade and a slate roof.

ACCOMMODATION

TENANCY SCHEDULE

Ground, part first floor and second floor are let to Peacocks on a 5 year lease from 12th April 2026 at £56,000 per annum. There is an index linked service charge cap of £3,000 per annum, increasing each year.

Part first floor is let to Evergreen Catering trading as a Chinese Restaurant on a 10 year lease from 30th January 2026 at a rent of £24,000 per annum with index linked rent reviews.

WAULT to break 4.63 years, lease end 6.03 years.

TENURE

The property is held freehold with title number: ND58010

VAT

The property is elected to VAT and it is therefore envisaged that the sale will be treated as a TOGC.

ENERGY PERFORMANCE CERTIFICATE

The property has an EPC rating of C.

PROPOSAL — EXCESS OF £945,000

We are instructed to seek offers in excess of £945,000 (exclusive of VAT), reflecting a net initial yield of 8.00% assuming standard purchasers' costs of 5.69%.

A sale at £945,000 reflects a low capital value of only £129 psf.

Anti-Money Laundering

To comply with our legal responsibilities for Anti-Money Laundering, it is necessary to check all parties involved in this transaction. It is the responsibility for parties on both sides to provide information necessary to complete these checks before the deal is completed. We will therefore require the following information:

• Corporate structure and ownership details of purchasers

• Identification and verification of ultimate beneficial purchasers

• Satisfactory proof of the source of funds for the purchasers

CONTACT

For further information or to arrange a viewing please contact:

Daniel Capobasso

Tel. 07968618948

Email. dc@deltacap.co.uk

Important Notice: These property particulars are for general guidance only. Although prepared with all reasonable care, their complete accuracy cannot be guaranteed, and they do not constitute part of an offer or contract. If there is any aspect of these particulars that you consider to be particularly important, it is essential that you seek professional verification. The seller makes no representations or warranties, whether express or implied, concerning the condition of the property or the accuracy of the information contained herein. Prospective purchasers must rely upon their own enquiries and investigations to satisfy themselves as to the correctness of each statement before committing to a purchase. All measurements and boundaries are approximate. The photographs included are for general information only and are subject to copyright; they may not be reproduced, distributed, or transmitted in any form or by any means, including on websites, without the express written consent of the copyright holder.