Mixed-use investment comprising three retail units and three bed flat. Current income £21,300 per annum, potential £30,300 fully let. Net yield of 8.52%, rising to 12.12% fully occupied. Net internal area 277.85 sq. m. (2,990.7 sq. ft.). Three of the four units are currently let and producing income. Well maintained units & flat recently refurbished. Excellent visibility with dual frontage to Woolmarket and Hide Hill.
Offers Over £250,000 Freehold
Ref I278
Location
The property occupies a prominent corner position at the junction of Woolmarket and Hide Hill, in the heart of Berwick-upon-Tweed, Northumberland’s northernmost town. The property benefits from excellent visibility and dual frontage in one of the town centre’s most established mixed-use areas. Berwick-upon-Tweed is a vibrant market town with a strong local catchment and a growing tourist economy, thanks to its historic architecture, coastal setting, and strategic location on the East Coast Main Line. The town lies approximately 65 miles south of Edinburgh and 60 miles north of Newcastle, with convenient access via the A1 and regular rail services to both cities.
Woolmarket and Hide Hill are both within easy reach of Marygate, the town’s principal retail thoroughfare, and are home to a variety of independent traders, cafés, and professional services. The area experiences consistent footfall from both local residents and visitors, making it an attractive location for commercial occupiers and residential tenants alike. This central and highly visible location supports the long-term investment potential of the property.
Description
We are pleased to bring to the market this well-presented, part tenanted mixed-use investment comprising three ground floor retail units and a refurbished three-bedroom flat above. The property is currently let to a mix of occupiers, including a barbershop and beauty salon, providing diversified income across the commercial element. Unit 2 Woolmarket is currently vacant but was formerly occupied by a café. The residential flat is occupied by the tenant of the barbershop, ensuring a stable and consistent occupancy.
The commercial units are in good condition, and the flat has recently undergone a comprehensive refurbishment, enhancing the overall quality of the asset. This investment offers an attractive opportunity for purchasers seeking an income-producing asset in a popular Northumberland town.
Notice
Please note, the title includes the freehold of the block (9 Hide Hill and 2,4,6,8,10,12 Woolmarket), of which all other properties have been sold on 999 year long leaseholds.
Listed Building
9 Hide Hill is showing as a grade II listed building under entry: -------
Tenure
Freehold
Viewing
Strictly by appointment through this office.
Price
£250,000 offers over
Rental Income
£21,300 per annum
Please note that 2 Woolmarket has recently become vacant. Prior to becoming vacant, the property generated rental income of £9,000 per annum. Should this level of income be re-established, the total annual rental income for the property would increase to £30,300 per annum.
Yield
The property currently provides a net yield of 8.52% based on the existing rental income. Subject to full occupancy and the re-letting of 2 Woolmarket at its previous rental level, the yield has the potential to increase to 12.12%.
Title Number
ND93257
Viewing
Strictly by appointment through this office.
