Advertisement
61 Front Street, Tynemouth, North Tyneside NE30 4BT
Commercial investment. Freehold guest house & tea rooms investment. Rental income £48,000 per annum. 6.0 % yield on asking price. Tenants have a lease in place until Feb 2043. 7 luxury en-suite room, owners accommodation & tea garden. Presented to a high standard. Sough after affluent costal village.
Price £800,000 Freehold
Ref I148
Freehold
Tynemouth 61 is prominently located on Front Street in the beautiful historic coastal village of Tynemouth, it is conveniently situated to explore the wonderful Northumbrian coastline and countryside as well as the vibrant city of Newcastle upon Tyne and the quayside of Gateshead.
Tynemouth is an area of outstanding natural beauty with stunning beaches permitting a wide range of water sports, including surfing, sailing, windsurfing, jet-ski, sub-aqua, swimming, kayaking and canoeing. Prominent on the headland overlooking the river are the Tynemouth Priory and Castle, dating back to the 11th Century. The area is popular with residents and tourists alike who visit at all times of the year especially during the summer and weekends throughout the year.
Tynemouth village boasts a wide range of independent bars and restaurants including the renowned Riley’s Fish Shack on King Edward’s Bay. You will also find a great selection of independently-owned boutique stores and businesses all on the doorstep of Tynemouth 61. There is also a vibrant market at the Tynemouth Metro Station every weekend. There is ample pay and display parking to the front as well as free parking on the surrounding streets.
Description
We are delighted to offer to the market this stunning
Georgian luxury guest house & tea rooms investment,
briefly comprising 7 en-suite guest bedrooms, owners
accommodation consisting king bedroom with bay
window and en-suite shower. There is also a Tea room
which doubles up as a breakfast room with a beautiful
traditional tea garden.
Yield
6.0 % on asking price
Lease
The current lease expires 25th February 2043.
Tenant
The current tenants took over the successful business in
September 2017 in which time have heavily invested into
it. The business has been voted the best guest house in
Tynemouth boasting 5 stars on Tripadvisor.
Rental Income
£48,000 per annum
Rent Review Dates
26th February 2035, 26th February 2040 and 25th February
2043.
Price
£800,000
Tenure
Freehold
Viewing
Strictly by appointment through this office.
