£150,000
(£126.05/sq. ft)
Property for saleGreenwell Road, Alnwick, Northumberland NE66
1,190 sq. ft
Just added
About this property
Investment opportunity
Excellent location in popular market town
Passing Rent £13,100 per annum
Price £150,000
Location
Nestled in the heart of Northumberland, the historic market town of Alnwick is renowned for its rich heritage, vibrant community and beautiful surroundings. Famous for the iconic Alnwick Castle and award-winning The Alnwick Garden, the town offers both history and modern amenities.
Surrounded by countryside and just a short drive from the Northumberland coastline, Alnwick provides excellent access to beaches, walking routes and outdoor pursuits, while the A1 and nearby rail connections offer convenient travel to Newcastle and Edinburgh.
With its independent shops, cafés, pubs and restaurants, Alnwick remains one of Northumberland's most sought-after locations.
The property is situated on Greenwell Road just outside of the town centre, with the main retail areas of Bondgate Within, and Market Street approximately two minutes walk away. The Greenwell Road car park and Alnwick Castle are also adjacent to the property. Surrounding occupiers in the immediate vicinity include (truncated)
Description
The property comprises a detached office of brick construction with a dual pitched tiled roof.
Internally to the ground floor, the accommodation provides an open plan reception and main office area, as well as separately partitioned rooms, staff kitchen, WC's and stairwell. The first floor provides two open plan offices, one either side of the stairwell. The property features freshly carpeted floors, plastered and painted walls and ceilings, fluorescent strip lighting and heating via electric panel radiators.
Externally there is a small planted area to the front, and gravelled areas to the side with parking provision for approximately 7 cars.
Accommodation
We have calculated the net internal floor areas as follows:
Ground Floor
68.47 sq m(737 sq ft)
First Floor
42.11 sq m(453 sq ft)
Total
110.58 sq m(1,190 sq ft)
Tenure
The majority of the property is held on a long-leasehold basis for a term of 999 years from 23 September 2002 at a ground rent of £1 per annum without review. The remaining part is Freehold. There will be a restriction on the title whereby the property can only be used for commercial purposes.
Tenancies
The office is let to Northumberland Accountants Limited (with personal guarantor) by way of a 10 year full repairing and insuring lease (Fri) from 1st February 2019, expiring 31 January 2029 at a rent of £12,500 per annum. There is a rent review in February 2028.
In addition, the passing rent for the parking spaces is £600 per annum.
The current tenant operates an accountancy business and has been in occupation for a number of years. We understand the company was incorporated in 2013.
Business Rates
The property is entered into the rating list as follows:
Description:
Offices & premises
Rateable Value
£11,000
Price
Our client's interest in the property, subject to the existing tenancy is available at £150,000. A sale at the asking price would equate to a gross initial yield of 8.73%. We understand the property is not registered for VAT and therefore VAT will not be payable on the purchase price.
Viewing
Strictly by appointment by sole agents YoungsRPS.
Contact Paul Fairlamb or Chris Pattison Tel:
Legal Costs
Each party is to bear their own legal costs.
Local Authority
Northumberland County Council, County Hall, Morpeth, NE61 2EF. Tel: All figures quoted above are exclusive of VAT where chargeable.
Energy performance certificate
The property has an EPC rating of d-77.
A copy of the EPC and recommendation report is available on request.
Note: Two directors of YoungsRPS have an interest in the subject property.
Excellent location in popular market town
Passing Rent £13,100 per annum
Price £150,000
Location
Nestled in the heart of Northumberland, the historic market town of Alnwick is renowned for its rich heritage, vibrant community and beautiful surroundings. Famous for the iconic Alnwick Castle and award-winning The Alnwick Garden, the town offers both history and modern amenities.
Surrounded by countryside and just a short drive from the Northumberland coastline, Alnwick provides excellent access to beaches, walking routes and outdoor pursuits, while the A1 and nearby rail connections offer convenient travel to Newcastle and Edinburgh.
With its independent shops, cafés, pubs and restaurants, Alnwick remains one of Northumberland's most sought-after locations.
The property is situated on Greenwell Road just outside of the town centre, with the main retail areas of Bondgate Within, and Market Street approximately two minutes walk away. The Greenwell Road car park and Alnwick Castle are also adjacent to the property. Surrounding occupiers in the immediate vicinity include (truncated)
Description
The property comprises a detached office of brick construction with a dual pitched tiled roof.
Internally to the ground floor, the accommodation provides an open plan reception and main office area, as well as separately partitioned rooms, staff kitchen, WC's and stairwell. The first floor provides two open plan offices, one either side of the stairwell. The property features freshly carpeted floors, plastered and painted walls and ceilings, fluorescent strip lighting and heating via electric panel radiators.
Externally there is a small planted area to the front, and gravelled areas to the side with parking provision for approximately 7 cars.
Accommodation
We have calculated the net internal floor areas as follows:
Ground Floor
68.47 sq m(737 sq ft)
First Floor
42.11 sq m(453 sq ft)
Total
110.58 sq m(1,190 sq ft)
Tenure
The majority of the property is held on a long-leasehold basis for a term of 999 years from 23 September 2002 at a ground rent of £1 per annum without review. The remaining part is Freehold. There will be a restriction on the title whereby the property can only be used for commercial purposes.
Tenancies
The office is let to Northumberland Accountants Limited (with personal guarantor) by way of a 10 year full repairing and insuring lease (Fri) from 1st February 2019, expiring 31 January 2029 at a rent of £12,500 per annum. There is a rent review in February 2028.
In addition, the passing rent for the parking spaces is £600 per annum.
The current tenant operates an accountancy business and has been in occupation for a number of years. We understand the company was incorporated in 2013.
Business Rates
The property is entered into the rating list as follows:
Description:
Offices & premises
Rateable Value
£11,000
Price
Our client's interest in the property, subject to the existing tenancy is available at £150,000. A sale at the asking price would equate to a gross initial yield of 8.73%. We understand the property is not registered for VAT and therefore VAT will not be payable on the purchase price.
Viewing
Strictly by appointment by sole agents YoungsRPS.
Contact Paul Fairlamb or Chris Pattison Tel:
Legal Costs
Each party is to bear their own legal costs.
Local Authority
Northumberland County Council, County Hall, Morpeth, NE61 2EF. Tel: All figures quoted above are exclusive of VAT where chargeable.
Energy performance certificate
The property has an EPC rating of d-77.
A copy of the EPC and recommendation report is available on request.
Note: Two directors of YoungsRPS have an interest in the subject property.
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Monthly repayment
£750 per month
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