Central Promenade,

An opportunity exists to purchase an investment/redevelopment opportunity comprising two ground floor shops and two first floor flats in a central location on Newcastle’s Central Promenade (Main Street) with fantastic views of Dundrum Bay.

Accommodation

INTERNAL

Ground Floor

The Joke Shop (1)

Retail Area 7.50m x 3.95m

Store 2.15m x 2.00m

WC

The Joke Shop (2)

Retail Area 7.50m x 3.55m

Store 3.47m x 2.66m

WC

Common Entrance Hallway

Lobby 1.41m x 2.67m

Hallway 1.46m x 6.38m (at longest)

Rear Hallway 1.10m x 2.58m (at widest)

First Floor

Flat (1) 

Entrance Hallway 3.84m x 0.93m

Living Room 4.58m x 3.95m

Kitchen 3.92m (at widest) x 2.56m

Bedroom (1) 4.02m x 2.63m

Bedroom (2) 3.29m x 2.61m

Bathroom (3) 3.0m x 2.57m

Flat (2)

Entrance Lobby 1.00m x 0.96m

Living Room 4.65m (into Bay) x 3.84m

Kitchen 2.37m x 1.3m

Bedroom (1) 3.27m (at widest) x 3.53m

Bathroom 2.34m x 2.6m

EXTERNAL

A ‘right of way’ exists from the rear of the property onto Central Promenade.

Lease Details

Joke Shop (1) - Currently rented at £4,500 pa

Joke Shop (2) - Currently rented at £4,500 pa

(No formal leases in place)

43a Central Promenade (Flat 1) – Currently vacant – Likely rental value £4,200 pa

43b Central Promenade (Flat 2) - Currently vacant – Likely rental value £5,400 pa

Rating - Commercial

Joke Shop (1) 43 Central Promenade             £4,200

Joke Shop (2) 45 Central Promenade             £3,950

Commercial rate in £1 for 2024/25 = 0.5805

Rating – Residential

43a Central Promenade (Flat 1)          £50,000

43b Central Promenade (Flat 2)         £45,000

Residential rate in £1 for 2024/25 = 0.0097

Tenure

We are advised by our client that the property is freehold.

PLEASE NOTE: The property is shown shaded yellow on the plan in the slideshow and the right of way from the Point A to the rear onto Central Promenade is shaded green

These particulars do not constitute any part of an offer or contract. None of the statements contained in these particulars are to be relied on as statements or representations of fact and any intending purchaser must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in these particulars. The Vendor does not make or give and neither T.L Graham & Son nor any person in their employment has any authority to make or give any representation or warranty whatever in relation to this property. Please note that we have not tested the services or systems in this property. Purchasers should make/commission their own inspections if they feel it is necessary. Photographs are reproduced for general information and it must not be inferred that any item is included for sale with the property.

(NB. All measurements are approximate)

Directions

Situated in a prime retail location on Newcastle’s seafront close to The Newcastle Centre.