Retail Residential investment Newcastle

RETAIL & RESIDENTIAL DEVELOPMENT OPPORTUNITY

With value add opportunities in Newcastle City Centre

222 Westgate Road, Newcastle Upon Tyne, NE4 6AE

INVESTMENT SUMMARY

• Retail and residential investment opportunity located in Newcastle city centre

• Adjacent to The Helix; a major city centre regeneration project

• Newcastle is a two University city with a student population in excess of 50,000

• Generating a total rental income of £37,099.80 per annum

• Student rental income from 5 tenants at £115 pppw

• Located in an area very popular with students

• Freehold opportunity

• Value-add opportunities through development

We are instructed to seek offers in excess of £400,000 (exclusive of VAT) reflecting a net initial yield of 8.90% assuming standard purchasers' costs.

LOCATION

Newcastle upon Tyne, the commercial heart of North East England, enjoys a strategic location roughly 260 miles north of London, 100 miles south of Edinburgh, and the same distance north of Leeds. This prime position translates to excellent connections via the A1(M) motorway, linking the city to both London and Edinburgh. The A69 trunk road further enhances its connectivity, offering a westward route to Carlisle and Cumbria.

Air travel is also readily accessible with Newcastle International Airport just 7 miles northwest of the city centre. This airport offers daily flights to most major domestic and European destinations.

Within the city centre, a short walk from the property, sits Newcastle Central Railway Station. This vital station forms part of the East Coast Main Line, providing frequent services between Edinburgh and London.

Adding to its impressive transportation network, Newcastle boasts the Metro, the only underground rail network outside of London in England. This extensive system features 60 stations across the North East, seamlessly connecting Newcastle City Centre to surrounding areas like Sunderland, South Shields, and even Newcastle Airport itself.

A Two University City

Beyond its connectivity, Newcastle thrives as a two-university city. The University of Newcastle, a prestigious Russell Group member, attracts approximately 18,000 students from a remarkable 100 countries. Northumbria University, also boasting a city centre campus, welcomes around 33,000 students from over 125 nations. Both universities have recently expanded their campuses, further enriching the city's academic landscape.

While universities provide accommodation for first-year students (roughly 25% of the total population), Newcastle's student body exceeds 50,000. This high demand creates a thriving market for quality housing in desirable areas.

Newcastle Helix

A major regeneration project is transforming Newcastle's landscape: Newcastle Helix. Standing on the former Newcastle Brewery site, this 24-acre development aims to create a vibrant and sustainable community focused on world-leading science, business, and innovation.

Newcastle Helix fosters collaboration through cutting-edge research facilities like the National Innovation Centre for Advanced Materials and Manufacturing (NAM) and the National Innovation Centre for Data (NIC). The project also caters to businesses of all sizes with a range of office and laboratory spaces, with a particular focus on attracting high-tech and life science companies.

As development progresses, exciting possibilities lie ahead. Future plans may include parks, gardens, public spaces, a riverside walk, and a wider variety of restaurants, cafes, and bars. This ongoing project represents a significant investment in Newcastle's future, expected to create thousands of jobs and propel the local economy. Newcastle Helix is a key driver of the city's ambition to become a leading centre for science, innovation, and technology.

DESCRIPTION

The property comprises a mid terraced 4 Storey building. The main walls are of solid brick construction and the roof is pitched with a slate roof covering. The property provides a ground floor retail area and on the upper floors is a spacious 5 bedroom flat with reception room kitchen and two bathrooms. The building was extensively refurbished in 2014.

ACCOMMODATION

TENURE

The property is held freehold with title number: TY209814

VALUE-ADD OPPORTUNITIES

Located opposite the Newcastle Helix Energy Centre, the property benefits from a large rear yard with potential for value-add development. This space could accommodate commercial expansion or additional residential units, either as a standalone project or an extension to the existing building, subject to planning permissions.

TENANCY INFORMATION

The ground floor is let to a private individual trading as an international food store for a term of 10 years from 13th October 2022, therefore expiring on 12th October 2032 at the passing rent of £7,200 per annum. There are three yearly tenant only break options subject to 6 months notice and three yearly rent reviews.

The upper floors are let to 5 students on an AST at £115 per person per week; calculating to an annual rent of £29,900 per annum.

The total gross rent is therefore £37,099.80 per annum.

ENERGY PERFORMANCE CERTIFICATE

The property has an EPC rating of D.

VAT

We understand the property is not elected to tax.

PROPOSAL

We are instructed to seek offers in excess of £400,000 (exclusive of VAT) reflecting a net initial yield of 8.90% assuming standard purchasers' costs.

CONTACT

Daniel Capobasso

Tel. 07968618948

Email. dc@deltacap.co.uk

Anti-Money Laundering

In order to comply with anti-money laundering legislation, the successful purchaser will be required to provide certain identification documents. The required documents will be confirmed to and requested from the successful purchaser at the appropriate time.

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.