Green Lane, Gateshead, Tyne and Wear, NE10

For sale via secure sale online bidding - terms and conditions apply.

# Portfolio Investment Opportunity | Apartments 1-5, Green Lane, Gateshead, Tyne and Wear, NE10 0QW

Substantial Mixed-Use Investment Portfolio | 5 Industrial Units | 5 Residential Apartments | Storage Containers | Established Income with Strong Asset Management Potential

An exceptional opportunity to acquire a substantial mixed-use investment portfolio occupying a prominent position on Green Lane, Gateshead.

The portfolio comprises five industrial/commercial units, five self-contained residential apartments, income-producing storage containers and generous on-site parking for both occupiers and customers.

The property is currently producing a strong rental income from a diverse range of long-standing commercial and residential tenants, with clear scope to increase rental returns. Many of the existing rents have remained unchanged for a number of years and are considered to be below current market levels, presenting an attractive opportunity for investors seeking immediate asset management potential and future income growth.

Commercial Accommodation

The commercial element comprises five industrial/workshop units currently occupied by established local businesses including:

Current commercial income approx:

* Lees Tyres: £1,590 PCM (with utilities)
* MOT Centre: £1,900 PCM (with utilities)
* Double Engineering Company: £1,800 PCM (with utilities)
* Proposed rent from owner-occupied unit: £2,000 PCM
* Upper storage container with storage beneath: £600 PCM

Residential Accommodation

The residential element comprises five self-contained apartments offering an excellent mix of one, two and three-bedroom accommodation.

Current rental income:

* Flat 1 (2 Bedroom): £750 PCM
* Flat 2 (1 Bedroom): £550 PCM
* Flat 3 (1 Bedroom): £590 PCM
* Flat 4 (3 Bedroom): £800 PCM
* Flat 5 (2 Bedroom): Currently vacant with an estimated rental value of approximately £750 PCM.

This is an ideal acquisition for private investors, property companies or portfolio landlords seeking a substantial mixed-use investment with multiple income streams, excellent long-term prospects and genuine opportunities to increase overall rental performance.

Location

This portfolio is situated on Green Lane within the established Felling Industrial Estate in Felling. Situated a short distance from Gateshead Town Centre and approximately 4 miles from Newcastle Upon Tyne. The building benefits from great connectivity off the Felling Bypass, providing easy access to the A19 and the Tyne Tunnel.

Accommodation

The commercial element comprises five industrial/workshop units.

The residential element comprises five self-contained apartments offering a mix of one, two and three-bedroom accommodation.

Tenure

Freehold. Title number TY440254.

EPC

Apartment 4 is of EPC rating B, all other apartments are of EPC rating C.
All available upon request.

Council Tax

All apartments are Council Tax band A.

Additional Information

For further information please contact our office direct on , or alternatively via e-mail on commercial. . With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.

Auctioneers Additional Comments

Pattinson Auction are referred to as The Auctioneer. This auction lot is being sold by either conditional (Modern) or unconditional (Traditional) auction terms and overseen by The Auctioneer. The method of auction sale and the applicable terms and conditions are found on the lot page of this property on The Auctioneers website. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details to be shared between any marketing agent and The Auctioneer so that matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid, all bidders must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.

Auctioneers Additional Comments

The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and The Auctioneer and will typically be within a range above or below 10% of the Guide Price or Starting Bid. These prices are subject to change. An auction can be closed at any time, with The Auctioneer permitting the property (the lot) to be sold prior to the end of the auction. A Legal Pack associated with this property is available to view upon request and contains details relevant to the legal documentation, enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers obligations and sellers commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

Auctioneers Additional Comments

In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum fee which could be up to 7,200 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and The Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.