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Freehold Investment Property For Sale

Northumberland, UK
Asking Price:
£319,999
Turnover:
Undisclosed
Net Profit:
Undisclosed

CoGoGo is delighted to present to the market a prestigious commercial/residential investment property located just off the highly desirable marketplace in Hexham.

The corner positioned stone built property is arranged over 4 floors with 3 of the floors being used for commercial use and the top floor housing a luxury 1 bedroomed apartment.

The top floor luxury apartment would make an ideal holiday let or private long term rental investment (similar apartments in the area achieve a rental income of around £650 pcm).

Our client purchased the run-down property in early 2020 and embarked on a complete refurbishment programme (excess of £100,000).

Schedule of works carried out include –

New electrics throughout
New heating systems in both the commercial floors and top floor apartment
New plastering and remedial work on each floor
Refurbishment of all the windows including new skylights.
Refurbishment of all the original features and fireplaces
Upgrading of all rear access areas

Commercial floors –

High end lighting, bespoke reception desk and display shelving units, back wash space with rear storage units, 10 hair stations and a beauty room. There are some additional design features including a glass wall panel on the first floor.
Lower ground floor – currently being used for storage, staffroom and office only, however, offers further potential for additional beauty treatment rooms.

Top floor apartment –

A stunning and luxury refit of this unused space with significant eye to design detail. It includes a ‘high spec’ fitted kitchen with integrated appliances, large bathroom and standalone bath with separate curved shower cubicle, new fitted cupboards in the sitting room and 2 x original cast iron fires.

Very rarely do we see complete refurbishment of this standard to a period building within the centre of Hexham. The experience of our client’s property development skills is clear to see in all areas of the property.

We highly recommend any investor or those looking for a new ‘Turn-key’ freehold business to make an early enquiry to avoid disappointment.

Property Information

Property:

Freehold

Location:

The property enjoys a highly prominent corner trading position on Market Street, just off the Market Square within the historic heart of Hexham.

The unit sits along a parade of both independent retailers, high street banks, choice of restaurants and bars, Hexham Abbey and is directly in front of Hexham’s renowned farmer’s market.

Hexham is an affluent town and civil parish in the south west area of Northumberland, located on the south bank of the River Tyne which is formed by the confluence of two rivers – the North Tyne and the South Tyne. The Hexham area also includes original parts of Hadrian’s wall.

Hexham is not only a highly desirable place to live and work but also one of Northumberland’s most visited towns attracting a high year-round footfall from visiting tourists.

There are several available parking spaces on the adjacent streets as well three nearby car parks offering 2 hours of free parking.

Nearest mainline station is Hexham is just 2 minutes’ walk from the property.

Premises Details:

Ground floor –

Client waiting area and reception desk, built in retail shelving unit.
6 x hair stations (with large mirrors & storage units) – potential to add a further 3 stations if required.
Backwash area – includes 2 x recliner chairs/sink units and rear storage shelving units.
Spiral staircase leading up to the first-floor

Lower ground floor –

Staffroom & office
3 x storerooms

First floor –

5 x further hair stations
Toilet
Utility room – with new gas boiler, washing machine and dryer.
Treatment room

Second floor –

Hallway
New kitchen with fully fitted units & dining area.
Sitting room – includes bespoke fitted storage units & period cast iron fire.
Master double bedroom – with period cast iron fire

Our client is flexible to what of the current internal assets can be left.

Business Operation

Trading hours:

N/A

Employees:
N/A