Lot 4
Freehold Commercial Investment – Gross Yield 9.4%
6 week completion
situation
Located close to the junction with Brewery Lane, nearby a variety of independent traders and within close walking distance of the town's High Street.
Rothbury is an attractive market town much favoured by tourists, surrounded as it is by the beautiful upland scenery of North Northumberland. It provides the main shopping and service centre for the villages of the Upper Coquet Valley, approximately 16 miles north-west of Morpeth.
PROPERTY
A Grade II Listed building with a total gross frontage of 82'0" constructed in 1913 as a garage which is believed by the seller (who used to run the garage business) to be the oldest purpose-built garage in the country still in its original use (See History).
The building is stone built with a pitched slate and glazed roof on cross boarded timber on steel trusses and has the benefit of a tarmac side access road leading to a rear yard. The building comprises a Large Lofty Garage premises having both front and side vehicular access, a Separate Shop at the front of the building with side access for storage and a separate side entrance leading to the first floor where there are 2 Large Store Rooms and 2 Office Rooms. The garage is also an MOT Testing Station.
VAT is NOT applicable to this Lot
FREEHOLD
HISTORY
The Garage was built in 1913 by John Lee who had an existing business in Rothbury selling plumbing supplies and bicycles. At that time there would only have been a handful of cars in the town. His account books show that the main part of his business was haulage, running bus services and taxis in the early days. The business thrived and by the time he died approx. 20 years later he owned substantial property holdings including three farms. His son, also John, then took over the business. In 1952 the bus business was sold to the person who had been running it, Lyndon Johnson and a year later he also bought the garage business. The garage was at different times an agency for various car marques including Austin and most recently Ford until the requirements for dealerships generally made this building unsuitable. In 2001 the building was refurbished and at that time the shop was separated to be a stand-alone business and the garage specialised in repairing classic cars until the current tenant took over in 2021. It is now the principal MOT testing station and repair workshop for the town and many surrounding villages.
Planning
There may be potential in the future to convert or redevelop the building into residential, subject to obtaining possession and the necessary consents.
