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Lot 4

Let to Whitecross Dental Care Ltd
Gross Yield 10%
6 Week Completion

Situation

Located close to the junction with Sunningdale Avenue in this predominantly residential street.
Walker is a residential suburb which lies approx. 3½ miles east of Newcastle-upon-Tyne city centre and approx. 3½ miles west of the A19 and Tyne Tunnel.

Property

A mid terraced building comprising a Dental Surgery (see Note 1) planned on the ground and first floors. In addition, there is access on to a rear service road.

Note 1: We understand the property is currently used by the tenant as a regional training centre.

Note 2: There is potential to convert the property to Residential Use, subject to obtaining possession and the necessary consents.

ACCOMMODATION¹

Ground Floor Approx. 383 sq ft
First Floor Approx. 294 sq ft

Total Area Approx. 677 sq ft

¹Not inspected by Barnett Ross. Areas from VOA.

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to Whitecross Dental Care Limited (see Tenant Profile) for a term of 15 years from 1st October 2012 at a current rent of £9,500 per annum exclusive.

Rent Review and Tenant's Break October 2022

Tenant Profile

Whitecross Dental Care Ltd are part of the Mydentist Group who are Europe's largest dental care provider with a 600+ network of practices and over 5 million people in the UK trusting them with their dental care. (Source: www.mydentist.co.uk).

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

839 Welbeck Road, Walker, Tyne & Wear NE6 4JP