Commercial property for sale in Front Street, Earsdon, Whitley Bay NE25

Offers in region of £900,000 (£93/sq. ft)
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Commercial property for sale

9,677 sq. ft*

Property description

Key Points

  • Residential Investment Opportunity
  • Popular affluent village centre location
  • Comprising 12 flats
  • Let to private individuals
  • Guide Price £900,000
  • Current passing rent of £75,180 per annum
  • Net initial yield of 7.78%
  • Description

    The property comprises a former care home which was granted change of use of in 2016 to create 12 self contained apartments, over ground and first floors. The use of the flats was to provide supportive living for elderly and physically disabled, however they are now let to private individuals by way of Assured Shorthold Tenancy Agreements.

    Each of the flats comprise 1 bedroom (with the exception of flats 4 and 9 which have 2 bedrooms), a kitchen, lounge and bathroom. The building provides lift access to the first floor, and to the ground floor provides a communal lounge, conservatory, communal kitchen and an external courtyard area for the residents. The first floor comprises WC facilities, a guest bedroom, office and linen store.

    Location

    The subject property is located on Front Street in Earsdon. Earsdon is a village in North Tyneside, situated between Shiremoor, Whitley Bay and Holywell.

    Earsdon is accessed by the A192, linking with the A1058 (Coast Road) to the south and the A186 which provides direct access to the A19 to the west. The North Tyneside coastline is less than 2 miles away. Earsdon is serviced by local bus routes, providing access to Whitley Bay and Newcastle city centre.

    Availability_Text

    The accommodation comprises the following areas:

    Property info

    * Sizes listed are approximate. Please contact the agent to confirm actual size.

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    Sanderson Weatherall, NE1 on +44 191 686 1494 * (local rate)

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    Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Sanderson Weatherall, and do not constitute property particulars. Please contact Sanderson Weatherall for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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