Summary - 23c Station Road, ASHINGTON NE63 9UZ
1 bed 1 bath Land
**Standout Features:**
- **Mixed-use investment**: Ground floor retail unit with four self-contained flats above.
- **Strong rental income**: Total income of £45,000 per annum with a 9.5% gross yield.
- **Established lease**: Ground floor let to a private individual with 7.5 years remaining on a 10-year lease.
- **Excellent connectivity**: Close proximity to a newly opened railway station offering direct access to Newcastle.
- **Art Deco charm**: Unique architectural style with existing commercial use.
**Notable Concerns:**
- **Lease length**: Only 7.5 years remaining, which may deter mortgage lenders.
- **Crime rate**: Higher than average in the local area.
- **Renovation required**: Potential need for updates or repairs to the existing structure.
**Summary Description:**
Seize this exceptional opportunity to invest in a remarkable Art Deco building situated on the bustling Station Road in Ashington. This mixed-use property features a retail unit on the ground floor, currently leased to a reliable tenant with a personal guarantee, ensuring an annual income of £18,000. Above, you’ll find four fully furnished self-contained flats (two two-bed and two one-bed), offering versatile living arrangements ideal for tenants looking for immediate occupancy.
The rental potential is bolstered by a newly established direct rail link to Newcastle, positioning this property for continued demand in a growing urban area. While the lease on the retail space has a limited term left, it provides a secure income stream in the interim, with potential for future extensions or renovations that can enhance value. Despite some renovation needs and a higher local crime rate, this property offers an appealing blend of commercial and residential opportunities in a vibrant yet evolving community. Act quickly to secure a prime investment in a location poised for growth!
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