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
The top-floor luxury holiday apartment generated over £46,000 annually. The ground-floor retail unit has a potential rental value for £12,000 per year, while the combined ground and first-floor retail spaces offer a potential income of £18,500 annually. This brings the total potential income to £58,000 annually, presenting an attractive opportunity for investors looking to expand their portfolios.
Commercial Floors -
Features include high-end lighting, a bespoke reception desk, and display shelving.
Top floor Apartment -
This stunning luxury refurbishment of previously unused space showcases exceptional design details. It features a high-spec kitchen with integrated appliances, a large bathroom with a standalone bath and separate curved shower cubicle, fitted cupboards in the sitting room, and two original cast iron fireplaces.
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.
