Office for sale in Front Street, Burnopfield, Newcastle Upon Tyne NE16

Location

The property is located on Front Street, which is the main thoroughfare within the affluent village of Burnopfield and is approximately 7 miles from the A1(M). The subject property is on a number of local bus routes, providing access to various regional towns and cities. Burnopfield is approximately 10 miles west of Gateshead, 13 miles south west of Newcastle upon Tyne City Centre and 14 miles north of Durham.

Description

The property comprises a two-storey stone built office building, most recently used as an Education Centre with on-site parking for up to 12 spaces. Internally the property is well maintained and benefits from reception area, office, meeting room and w/c facilities to the ground floor and further cellular office accommodation, kitchen and w/c to the first floor. Other advantages include carpeted floors throughout, central heating, LED lighting, CCTV and full security alarm system.

The property would be suitable for a variety of uses within Use Class E or other use including residential conversion, subject to planning.

Accommodation

Office NIA 144.54 m² (1,555 ft²)
Garages NIA 48.60 m² (523 ft²)
Total NIA 193.14 m² (2,078 ft²)

EPC rating

To be re-assessed.

Rating assessment

The rateable value of the premises as at 1 April 2023 is £7,300 and the estimated rates payable for the current year is £3,642.70. This is based on the standard uniform business rates multiplier of 49.9p in the pound. The property is eligible for full business rates relief, subject to certain criteria. Interested parties should confirm the current position with the Local Authority.

Terms

The property is available to let for £25,000 (Twenty Five Thousand pounds) per annum on a new Full Repairing and Insuring lease for a term of years to be agreed.

Asking price

Our client’s Freehold interest is available for sale for £325,000 (Three Hundred and Twenty Five Thousand pounds).

VAT

VAT is not applicable to this purchase.

Legal costs

Each party is to bear their own legal costs involved in the transaction.

Anti-money laundering regulations

In accordance with the Anti-Money Laundering Regulations the Purchaser/Tenant will be required to provide two forms of identification and proof of the source of income.