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Sainsbury's Local, Shields Road, Morpeth, Northumberland, NE61 2SB

Guide Price
£1,500,000

£207.73 per sq ft

Business rates & charges may apply

Knight Frank, Newcastle - Commercial
SIZE AVAILABLE

7,221 sq ft

671 sq m

SECTOR

Shop for sale

Key features

  • Investment

Description

Asking Price £1500000.00

Investment Overview
• Located in the affluent market town of Morpeth
• Major arterial route benefiting from strong local and passing trade
• Freehold
• 35 parking spaces
• 7,221 ft² GIA
• Majority let to 5A1 covenant of Sainsbury's Supermarkets Limited until 19 February 2038
• Passing rent of £94,000 per annum (£13.02 psf)
• Sainsbury's benefits from a CPI linked rent review in 2033 collared and capped at 1.00% - 3.00%



Offers are invited in excess of £1,500,000 (One Million and Five Hundred Thousand Pounds) subject to contract for our client's freehold interest.


The property comprises a Sainsbury's Local convenience store occupying the ground and basement floors, with a performing arts school on the first floor, together with associated parking area extending to 35 spaces. The property occupies a prominent corner site within the residential area of Stobhill, approximately one mile south of Morpeth town centre.

Brochures

Sainsbury's Local, Shields Road, Morpeth, Northumberland, NE61 2SB

Open mapStreet View

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Morpeth Station0.2 miles
  • Pegswood Station1.9 miles
  • Cramlington Station5.9 miles

About Knight Frank, Newcastle - Commercial

St Anns Quay, 124 Quayside, Newcastle Upon Tyne, NE1 3BD

Knight Frank is the leading independent, global real estate consultancy providing an integrated prime commercial and residential offering, operating in key hubs across the globe.

Headquartered in London with 244 offices, employing more than 7,067 professionals and spanning five continents, Knight Frank provides the highest standards of quality and integrity in global residential and commercial property advisory services. Our reputation for uncompromising professionalism in everything we do is earned by serving our clients and earning their trust.

Founded in 1896 and a Limited Liability Partnership (LLP) since 2003, the firm’s 60 Equity Partners promote progressive growth through a strong corporate culture, helping us to recruit and retain the best people.

Advising clients ranging from individual private investors, clients and homeowners to major developers and investors, we put teamwork, innovation and our passion for property at the heart of everything we do, striving to go the extra mile to exceed our clients’ expectations.

Notes

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Disclaimer - Property reference HUB2595069. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Knight Frank, Newcastle - Commercial. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

Map data ©OpenStreetMap contributors.

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