1 Church Row 1,940 sq ft Retail Property Gateshead NE10 9SL £160,000 (£82.47/sq ft)

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 the retail has a lowered false ceiling which can be amended for higher ceilings.

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.