79 Marygate
Berwick-upon-Tweed
Northumberland
TD15 1BA

Freehold Retail Investment

  • Retail unit let to Nero Holdings Limited t/a Caffè Nero until 2021
  • Residential planning consent granted for vacant upper floors
  • Affluent and attractive town centre location
  • Neighbouring occupiers include Home Bargains, Holland & Barrett, Boots, Costa, Greggs and Vodafone
  • Lot
    41
  • Auction
    14/Feb/2019
  • Rent
    £23,000 per Annum Exclusive
  • Status
    Sold
  • Price*
    £210,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • 79 Marygate<br>Berwick-upon-Tweed<br>Northumberland<br>TD15 1BA
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* More information on the term "price" can be found here

Property Information

Location
Miles
56 miles south of Edinburgh
65 miles north of Newcastle
Roads
A1167, A1
Rail
Berwick-upon-Tweed Railway Station
Air
Newcastle Airport, Edinburgh Airport
Situation

The property is prominently situated on the south side of Marygate, in the heart of the town’s prime retail pitch. Neighbouring occupiers include Home Bargains, Holland & Barrett, Boots, Costa, Greggs and Vodafone.

Tenure

Freehold.

Description

The property comprises a lock-up retail unit on the ground floor and two vacant upper floors. The upper floors are accessed via the shop and are suitable for residential conversion, with existing planning consent granted for a 3-4 bedroom maisonette under reference 18/00053/LBC.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Available from the legal pack at acuitus.co.uk.

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReversion
GroundRetail112.87 sq m(1,215 sq ft)NERO
HOLDINGS
LIMITED
t/a Caffè Nero (1)
5 years from
14/10/2016 on
a full repairing
and insuring lease
£23,00013/10/2021
First
Second
 
59.64 sq m
67.07 sq m
(642 sq ft)
(722 sq ft)
VACANT
POSSESSION
   
Totals
239.58 sq m
(2,579 sq ft)
  £23,000 

(1) Caffè Nero is one of the largest coffee shop retailers in the UK and currently trades from more than 650 sites in the UK. For the year ending 31st May 2017, Nero Holdings Limited reported a turnover of £264,897,000, pre-tax profits of £25,896,000 and a total net worth of £217,488,000 (Source: Experian Group 8/11/2018).

Property Documents

  • Site Plan
    Updated Date
    22.01.19
    File Size
    3 MB
    View PDF
  • Catalogue Page
    Updated Date
    22.01.19
    File Size
    931 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.01.19
    File Size
    143 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Billy StruthBilly Struth +44(0)20 7034 4854billy.struth@acuitus.co.uk
Seller's Solicitors
Sintons LLP The Cube, Barrack Road
Newcastle upon Tyne
NE4 6DB
David Naughten 0191 226 3647David.Naughten@sintons.co.uk

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