Retail in NE10
Church Row, Gateshead, Tyne and Wear, NE10 9SL
Online auction
- Freehold Title
- Mixed Use Property
- Investment Opportunity
- Great Transport Links
- Residential Location
- Suitable for a Variety of Uses
Retail in NE10
Property Overview
Pattinsons are delighted to offer to the market this versatile mixed-use property located at Church Row, Windy Nook, Gateshead, offering a unique opportunity for a variety of business ventures.
The building comprises a ground floor retail unit (most recently used for retail purposes) with additional office/storage space, kitchenette, cloakroom WC, and access to a rear yard, together with a spacious first-floor flat in very good condition. In addition, the property benefits from a good-sized garage which offers scope for conversion into further commercial or residential accommodation (subject to the necessary consents). increasing in turn the sale and rental revenue for the property. We are advised there is currently false ceiling in the retail unit which is a void of around 18 inches.
This property provides an exciting opportunity for investors, business owners, or landlords looking for a property with flexible use and excellent income potential. The retail space has been recently advertised for let with a lease value of £10.8k per annum and the first floor flat is currently let on an AST to a very good tenant giving a combined gross yield in excess of 10% of the sale price. The landlord has decided instead of reletting the ground floor to sell and has all the relevant landlord certificates, electrical/gas test certificates etc.
The property is situated in the densely populated Windy Nook area of Gateshead, surrounded by residential housing, making it an ideal location for a wide range of retail or service-based businesses and directly opposite is a busy convenience store, helping to generate good levels of footfall. Additionally, the property sits in a highly visible position at the top of the bank from Felling, ensuring excellent exposure to passing traffic and accessibility for local customers.
Summary
- Property Type: Retail
- Tenure: Freehold
- Parking: On Street
Location
The property is situated in the densely populated Windy Nook area of Gateshead, surrounded by residential housing, making it an ideal location for a wide range of retail or service-based businesses.
Directly opposite is a busy convenience store, helping to generate excellent levels of footfall.
The property sits in a highly visible position at the top of the bank from Felling, ensuring excellent exposure to passing traffic and accessibility for local customers.
Close to the Queen Elizabeth Hospital, local bar, restaurants, and other amenities – all of which support a steady flow of potential clientele.
Accommodation
Accommodation
Ground Floor (Retail Premises – Previously Used as Retail)
Large retail area with display window and customer entrance.
Second office room/storage area.
Kitchenette.
Cloakroom WC.
Access to rear yard.
First Floor (Residential Flat)
Private entrance to a spacious three-bedroom flat.
Two generous double bedrooms and one single bedroom.
Lounge.
Fitted kitchen.
Family bathroom and separate WC.
External
Good sized garage with development potential (subject to consents).
Rear yard area.
Transport & Amenities
Schools, doctors’ surgeries, and leisure facilities all within close proximity.
Good public transport links with nearby bus routes providing easy access to Gateshead and Newcastle.
The A1 motorway is just a short drive away, offering excellent connectivity across the region.
The Metrocentre and Newcastle City Centre are both within easy reach, adding to the property’s appeal for both retail and residential use.
Investment Potential
This property presents a fantastic investment opportunity with dual income streams possible from both the ground floor retail unit and the first floor residential flat.
Anticipated rental income: £18,000 per annum (shop advertised for £10,800 pa and first floor flat £7.2kpa)
Expected ROI: 10%+
The large garage and rear yard also provide scope for further development, subject to planning.
With its excellent location, strong local demand, and easy access to major transport routes, this property is ideal as a buy-to-let investment, owner-occupier business premises, or mixed-use redevelopment project.
Tenure
Freehold.
EPC
1 Church Row (Commercial) - Available upon request (rating C).
1a Church Row (Flat) - Available upon request (rating D).
Additional Information
For further information please contact our office direct on 0191 737 1154, or alternatively via e-mail on commercial.ne@pattinson.co.uk. With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.
Floor Plan
This property is being sold subject to unconditional reservation fee auction terms and conditions.
Timescales
Contracts will exchange immediately. There are 28 days in which to complete the purchase.
Legal Pack
A legal pack is available to download. Special conditions may apply.
We strongly recommend buyers familiarise themselves with the legal pack prior to bidding.
Deposit
In order to secure the purchase a buyer will pay a deposit of 5% which contributes towards the overall purchase price of the property.
The deposit is non-refundable.
Buyer Fees
This property is sold subject to a non-refundable reservation fee of 5% + VAT to a minimum of £6,000 + VAT (£7,200 inc VAT) This does not form part of the purchase price.
A reservation fee is payable by the buyer where a seller has opted to sell with no fees. As a result, a lower reserve price is usually agreed on lots where a reservation fee is applicable.
More Information
For more information call our auction experts on 0191 206 9335 or email auctions@pattinson.co.uk
ONLINE AUCTION NOTICE
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My bid may be accepted by the seller at any time before the close of the auction. It is subject to the terms and conditions of the auction which I have read and understood. I have read and understood the legal pack applicable to my bid/lot and agree to be bound by any special conditions within that pack.
If my bid is successful (whether as the highest bid or upon acceptance by the seller in the course of the auction) I shall be bound by the lot terms and conditions as advertised online.
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Please note that the bidding process will work in a different way to an eBay auction, so there is NO advantage to bidding at the last second.
Each auction will automatically stay open until there has not been a bid within the final 10 minutes. If no bid has been submitted within the final 10 minutes of the auction, the auction will close and the highest bidder will be successful subject to the reserve price being met or upon acceptance of an offer by the seller throughout the auction cycle. If there is another bid within 10 minutes of the last bid, the auction countdown timer will be restarted for another 10 minutes to allow further bidding. This system avoids last-minute (or second) bidding and makes for a fairer auction as in a live-room auction situation.
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It is the bidder's responsibility to ensure the bid has been lodged with the auctioneer. It is therefore beneficial to bid on your chosen lot at your earliest opportunity.
The auctioneer accepts no responsibility for bids that are not received or are received late and reserves the right to reject any bid without notice.
Minimum online bidding increments:
£50,000 - £250 minimum bid
£50,001 to £150,000 - £500 minimum bid
£150,001 to £250,000 - £1,000 minimum bid
£250,001 to £750,000 - £2,500 minimum bid
£750,001 to £1.5 Million - £5,000 minimum bid
£1.5 Million Plus - £10,000 minimum bid
Please note this bidding process applies specifically to online auctions.
More Information is available:
For more information call our auction experts on 0191 206 9335 or email auctions@pattinson.co.uk
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