• Prominent Town Centre location 

• Highly secure income - let EE Ltd (Net Assets over £6,000million) 

• Tenant leases entire building 

• Let until May 2026 – no breaks 

• Offers in excess of £320,000, subject to contract 

• Attractive Net initial Yield of 7.55%

The property occupies a prominent position on Station Road which is Ashington’s main retail thoroughfare. New Look and Ramsdens occupy units immediately adjacent whilst Lloyds and Superdrug are located opposite the property. Other retailers in the immediate vicinity include Barclays, Subway, Greggs and Poundland.

The building is a two storey traditional mid-terraced brick building with pitched slate roof. The building has been extended to the rear. The unit has a modern powdered aluminium glazed frontage with corporate display fascia.

Internally the unit is fitted to a high standard with the tenant’s corporate fitout, including tiled floor, plasterboard/painted walls and suspended ceiling with fluorescent light fittings and air conditioning units installed.

There is open plan sales area with rear office and staff toilet.  An internal stair leads to the first floor which comprises additional storage.

Freehold.

The entire property is let on a 10 year lease to EE Ltd (Co No 02382161) on a Full Repairing and Insuring basis until 12^th May 2026. The tenant had a break option effective 12^th May 2020, which required 6 months’ notice. The break option has not been exercised and there are no further breaks.

The current rent is £25,000pa (£31.85/sq ft) and there is a rent review on 12^th May 2021.

The property is elected for VAT and it is anticipated the transaction will take place by way of a TOGC (Transfer of Going Concern).

We are instructed to seek offers in excess of £320,000 (Three Hundred and Twenty Thousand Pounds), subject to contract. This price reflects a net initial yield of 7.55%, assuming purchasers’ costs of 3.22%.

Please note that a purchaser will be re-charged the cost of searches which are provided in the data room.

We have established relationships with a number of leading finance companies who are in a position to quote terms for suitable situations. To learn more, please visit our “Finance” section.