Investment Properties In Gateshead For Sale

Property Information

Property:

Freehold

Location:

These properties form part of an imposing terrace overlooking the main transport exchange, in the heart of the town centre.

The immediate area offers predominantly commercial and office accommodation with on street metered parking. There are student halls above the nearby Trinity Square shopping centre which provide rooms for Northumbria University students and Newcastle City centre is a 15 minute walk away via the High Level Bridge. There are regular bus departures from the neighbouring Transport Exchange and the Metro system links Gateshead with Sunderland, the airport and the coast.

Premises Details:

The investment comprises two adjacent mid-terrace four storey Grade 2 listed buildings of traditional brick construction and with pitched slate roofs over.

Accommodation

11 Walker Terrace
GIA is 323 sq.m. (3,475 sq.ft.) and the space is configured to provide educational, pupil and staff facilities over 4 storeys. There is a large, enclosed yard which is used by the pupils and for parking.

13 Walker Terrace
GIA is 278 sq.m. (2,990 sq.ft.) and the space is configured to provide educational, pupil and staff facilities over 4 storeys. There is a large, enclosed yard which is used by the pupils.

Occupational Leases

11 Walker Terrace Let to The Cedars Academy Trust by way of a 10 year FRI lease from 16th December 2021. Current rent £23,500 per annum increasing to £25,000 per annum in December 2024. There is a final rent review in December 2026 but no break clauses.

13 Walker Terrace Let to The Cedars Academy Trust by way of a 10 year FRI lease from 30th September 2016. The current passing rent is £25,000 per annum and there are no break clauses.

Size in square feet:

5,300

Energy Performance Rating:

D