Summary - 1, WESTGATE NE49 9AF
1 bed 1 bath Retail Property (high street)
**Standout Features:**
- Prime corner location on Westgate, Haltwhistle
- High gross initial yield of 8.73% with an annual rental income of £4,800
- Ground floor retail shop currently operated as a Hair & Beauty Salon
- Long leasehold tenure with 999 years remaining and a peppercorn ground rent
- Nearby retailers include Boots and Co-op, enhancing foot traffic
- Excellent mobile signal; close to local amenities and public transport
**Potential Concerns:**
- Broadband speeds are slow, which may affect business operations
- The property is located in a deprived area, which could influence customer demographics
**Summary:**
This charming Victorian retail property in the heart of Haltwhistle offers a unique investment opportunity for savvy investors. With a current tenant running a Hair & Beauty Salon on a long-term lease, you'd enjoy a reliable rental income of £4,800 p.a. with a remarkable yield of 8.73%. The corner position not only ensures great visibility but places you amidst a vibrant commercial scene, drawing in foot traffic from nearby businesses.
Though the area presents some socioeconomic challenges, the established tenant has opted not to exercise their break clause until March 2025, providing immediate security for your investment. The space, measuring 560 sq ft, caters to a variety of uses, allowing for potential adaptations or future enhancements. With a strategic location near transport links and local amenities, this retail unit is a prime option for those looking to make their mark in the market. Don't miss this opportunity—properties like this one tend to move quickly!
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