Retail Unit / Investment Opportunity - 39 Castlegate, Berwick-upon-Tweed TD15 1LF

39 Castlegate, Berwick-upon-Tweed

Offers Over  £45,000


Quick Summary

Price £45,000
City
Status New
Size (Acres)
Beds
Bathroom
Garden
Parking Spaces
Period

Downloads


Contact

Galashiels Office
01896 751 300

Location
39 Castlegate is situated in a good trading position on the western side of Castlegate, the principal thoroughfare to the town centre from the north. It is a popular trading position generally comprising a range of artisan and niche retail businesses and services.

Berwick-upon-Tweed is located in Northumberland to the north of England close to the border with Scotland.  It has a population of approximately 14,000.  The town is situated approximately equi-distant between Edinburgh to the north and Newcastle-upon-Tyne to the south (approximately 65 miles each way).

Berwick-upon-Tweed is served by the A1 trunk road providing good access to the national roads network with dual carriageway the majority of the distance to Edinburgh. The main line east coast railway network also serves the town with regular services to Edinburgh and Newcastle-upon-Tyne (approximately 45 minutes each way) and London (approximately 3 ½ hours).

Although a relatively small town, Berwick is regarded as the principal market town serving north Northumberland and the eastern borders (a catchment of around 42,000) offering a full range of retail, leisure and financial services.  The town also has a significant tourism sector which accommodates an influx of seasonal visitors during the summer months – the population of the town is reported to double during peak season.

There are airports at both Edinburgh and Newcastle-upon-Tyne providing domestic and international scheduled flights.
Berwick-upon-Tweed also benefits from an active commercial harbour.  The port can take vessels up to 115 metres in lengths and drafts up to 4.6 m.

The immediate area is characterised by a range of commercial uses at ground floor level with private residential use generally occupying upper levels.

Nearby occupiers include Lindsay Opticians, RightBite Baguette shop, Stich ‘n Time, The Retreat and Charles Mace and Sons.

Description
An attractive double fronted retail unit with central access door occupying the ground level of a late Georgian terraced building providing accommodation on two principal levels plus attic level.
The building is of traditional sandstone construction under a pitched roof clad in slate.

The shop has a traditional shop frontage with hardwood framed display windows and glazed timber framed access door.

Accommodation
The accommodation comprises a well-presented retail area, compact store open to wc with low flush unit and wash hand basin.

Tenancies
The property is currently let to Baby Steps Ltd at a current passing rent of £3,900 per annum, although we understand that the lease is currently rolling on a month to month basis and can be terminated on one months notice.
Rateable Value
The Rateable Value is currently assessed to £5,100 effective from 01-Apr-2017.

Services
Mains electricity, water and drainage  are presumed to be connected.

Tenure
Absolute Ownership
This property is sold subject to and with the benefit of all rights of way, whether public or private, and any existing or proposed wayleaves, servitude rights, restrictions and burdens of whatever kind, whether referred to in these particulars or not.

Offers
A closing date may be set for offers. Please note that only those parties who formally notify their interest will be informed of the closing date. Interested parties are advised to notify the selling agents of their interest as soon as possible. The sellers reserve the right to sell privately and are not bound to accept the highest or indeed any offer.

Offers should include: The identity of the purchasers; the price offered; source of funds; clear details of any conditions attached to the offer; proposed timescale for conclusion of missives, completion and payment.

Value Added Tax
Any prices are exclusive of VAT. Any intending purchasers must satisfy themselves independently as to the instances of VAT in respect of any transaction.

Legal Costs
Each party will be responsible for their own legal costs incurred in connection with this transaction.

Viewing
By appointment with the sole agents:

Edwin Thompson, Chartered Surveyors
76 Overhaugh Street
Galashiels
TD1 1DP

Tel. 01896 751300
Fax. 01896 758883
E-mail: [email protected]

Market Rent assessed to £4,500 pa to £5,000 pa reflecting on an attractive yield of 9.4% to 10.4 % based on price quoted.

• A double fronted retail unit in an excellent trading position.
• Free parking to front of unit.
• Currently let at a passing rent of £3,900 per annum
• Central location
• Net Internal Area 89.40 sq m (962 sq ft)

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