Summary - 15, CHAPEL FIELD EAST NR2 1SF
1 bed 1 bath Mixed Use
Large period building with redevelopment potential subject to consents.
Grade II listed freehold with historic Georgian/Victorian features
An attractive Grade II listed freehold arranged over lower ground, ground and one upper floor, offering 3,560 sq ft of training rooms, offices and ancillary accommodation. The property is let until November 2026, producing £28,000 per annum (VAT not applicable) and currently reflects a gross initial yield of c.10.18% at the guide price.
The building’s Georgian/Victorian facade, sash windows and high ceilings present clear character and refurbishment potential. It includes an enclosed rear garden and a large overall plot, which, subject to planning and listed‑building consents, may lend itself to alternative uses or redevelopment.
There are significant constraints buyers must accept: the Grade II listing will restrict alterations and add conservation costs, and only around one year remains on the current lease — a term likely to deter mortgage lenders and reduce the pool of purchasers. The immediate neighbourhood has very high crime levels and significant area deprivation, which will affect lettability and future valuation.
This lot suits a specialist investor or developer able to work with heritage constraints, short leasehold investments, and auction purchase dynamics. Review full legal and title packs, and seek specialist lender advice before bidding.
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