Offers in region of
£150,000
(£223.88/sq. ft)
Retail premises for saleSheriffs Highway, Gateshead NE9
From 670 - 790 sq. ft
Under offer
About this property
Suburban parade of 2 single storey retail units
Long standing tenant occupation
Let to William Hill and R G Young Pharmacy Ltd
Gross income £13,000 per annum
Gross yield 8.66%
Non-vat qualifying
Location
The property is situated on Sheriff’s Highway having frontage to Old Durham Road in the Sheriff’s Hill area of Gateshead approximately 1.5miles South of the Town Centre and 2 miles South of Newcastle upon Tyne.
Description
The property comprises a pair of single storey adjoining lock up shops one of which is Let on 2 separate leases to William Hill Bookmakers and R G Young Pharmacy Limited. Both tenants have been in occupation for many years.
Accommodation
The property briefly comprises as follows:-
ft2 m2
No. 31
Net Internal Area 790 73.39
No.33
Net Internal Area 670 62.24
Tenure
We are advised the property is Freehold.
Tenancy Details
31 Sheriffs Highway
Let to William Hill Organization Limited for a term of 5 years from 3rd December 2025 at a passing rent of £7,000 per annum on Tenant Internal Repairing terms. The lease contains a tenant only break clause at the 3rd anniversary on serving 6-month notice.
33 Sheriffs Highway
Let to R G Young Pharmacy Limited for a term of 10 years from 23rd January 2026 at a passing rent of £6,000 per annum. There is a rent review at the end of year 5 and a tenant only break option at the same time.
Asking Price
Offers in the region of £150,000 (one hundred and fifty thousand pounds) representing an attractive gross yield of 8.66%
VAT
We are advised the property is not subject to VAT.
Costs
Each party will be responsible for their own Legal Fees incurred in the transaction.
Viewing
Contact – Mario Jaconelli or Alexa Reavley
•
•
• Rateable Value (rv)
The Valuation Office has confirmed the current Rateable Values as follows - No.31 £9,100 & No.33 £9,700. The Uniform Business Rate for the Rates Year 2026/2027 is 38.2 p. If necessary, a written request should be made to the Local Authority for confirmation.
Money Laundering Regulations
In accordance with Anti –Money Laundering Regulations, the Purchaser/Tenant will be required to provide 2 forms of identification together with confirmation of the source of funding.
Disclaimer
None of the equipment or systems within the premises have been tested by the Agent and it is the responsibility of the Purchaser/Lessee to ensure that they are in working order.
Ref
C4388
EPC
No.31 Energy Rating 54/C
No.33 Energy Rating 59/C
The property is situated on Sheriff’s Highway having frontage to Old Durham Road in the Sheriff’s Hill area of Gateshead approximately 1.5miles South of the Town Centre and 2 miles South of Newcastle upon Tyne.
Description
The property comprises a pair of single storey adjoining lock up shops one of which is Let on 2 separate leases to William Hill Bookmakers and R G Young Pharmacy Limited. Both tenants have been in occupation for many years.
Accommodation
The property briefly comprises as follows:-
ft2 m2
No. 31
Net Internal Area 790 73.39
No.33
Net Internal Area 670 62.24
Tenure
We are advised the property is Freehold.
Tenancy Details
31 Sheriffs Highway
Let to William Hill Organization Limited for a term of 5 years from 3rd December 2025 at a passing rent of £7,000 per annum on Tenant Internal Repairing terms. The lease contains a tenant only break clause at the 3rd anniversary on serving 6-month notice.
33 Sheriffs Highway
Let to R G Young Pharmacy Limited for a term of 10 years from 23rd January 2026 at a passing rent of £6,000 per annum. There is a rent review at the end of year 5 and a tenant only break option at the same time.
Asking Price
Offers in the region of £150,000 (one hundred and fifty thousand pounds) representing an attractive gross yield of 8.66%
VAT
We are advised the property is not subject to VAT.
Costs
Each party will be responsible for their own Legal Fees incurred in the transaction.
Viewing
Contact – Mario Jaconelli or Alexa Reavley
•
•
• Rateable Value (rv)
The Valuation Office has confirmed the current Rateable Values as follows - No.31 £9,100 & No.33 £9,700. The Uniform Business Rate for the Rates Year 2026/2027 is 38.2 p. If necessary, a written request should be made to the Local Authority for confirmation.
Money Laundering Regulations
In accordance with Anti –Money Laundering Regulations, the Purchaser/Tenant will be required to provide 2 forms of identification together with confirmation of the source of funding.
Disclaimer
None of the equipment or systems within the premises have been tested by the Agent and it is the responsibility of the Purchaser/Lessee to ensure that they are in working order.
Ref
C4388
EPC
No.31 Energy Rating 54/C
No.33 Energy Rating 59/C
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