Lot 53 - 200-202 Milburn Road, Ashington, Northumberland, NE63 0PH
- Unconditional Online Auction Sale
- Guide Price* : £270,000
4x commercial unit investment opportunity
Description
• Prominent retail parade
• Mixed use investment
• Total size of 8,876sqft
• Town centre location
• May be suitable for a variety of uses STPP
LOCATION
The property is prominently situated on Milburn Road in Ashington, a popular Northumberland town approximately 15 miles north of Newcastle upon Tyne and 6 miles east of Morpeth. Milburn Road is a mixed-use area comprising a variety of commercial premises and residential housing, benefitting from good levels of passing traffic and footfall. The property is well positioned for access to the town centre and its range of amenities, including national and local retailers, cafes, and services. Excellent transport links are provided via the A196 and A189, connecting to the wider regional road network, while public transport options include regular bus services to neighbouring towns and Newcastle city centre.
DESCRIPTION
An excellent opportunity to acquire a mixed-use investment property prominently situated on Milburn Road in the heart of Ashington. The traditional red brick, end terrace property comprises of 4 retail units, arranged over ground and first floor, with 2 occupied units and 2 vacant, The property offers secure income from existing tenancies with significant value-add opportunities through letting of vacant units, refurbishment, or potential reconfiguration. Ashington’s strong rental demand and ongoing regeneration initiatives further support long-term growth prospects. This is an attractive investment for buyers seeking a property with opportunities to add value, or for redevelopment purposes, subject to planning permission.
ACCOMMODATION
200-202 (rear store) - 5,576sqft
202 - 1,566sqft
202a - 499sqft
202b - 1,237sqft
Total 8,878sqft
TENANCY DETAILS
200-202 (rear store) - let on a 1y rolling from 11/09/2024 for £22,500pa
202 - let on a 5y term from 01/03/2023 for £5,300pa (step rent - Y4 £5,400pa and Y5 £5,500pa)
202a - vacant.
202b - vacant.
ADDITIONAL TERMS
1. This lot is for sale subject to unconditional auction terms.
2. If the reserve price is met or exceeded, contracts will exchange with immediate effect upon the close of the auction.
3. Following exchange of contracts, parties have 28 days in which to complete the purchase (unless specified otherwise in the special conditions).
4. A non-refundable deposit of 5% is payable within 1 hour of the auction closing.
5. The winning bidder is to make payment to the auctioneer a reservation fee of 6% including VAT subject to a minimum of £6,000 including VAT. The reservation fee is payable in addition to the purchase price and is payable within 1 hour of the auction closing.
6. An administration charge of £714 including VAT is payable by the successful buyer within 1 hour of the auction closing.
7. A legal pack has been provided by the seller’s solicitor and is available to download. We strongly recommend reviewing this thoroughly and discussing any queries with your solicitor prior to bidding.
8. I acknowledge that the seller may accept my bid at any time prior to the scheduled auction end date.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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