FOR SALE BY ONLINE AUCTION WEDNESDAY 18TH OF JUNE 2025 AT 9AM - ***A FANTASTIC OPPORTUNITY TO ACQUIRE A VERSATILE, TENANTED COMMERCIAL UNIT IN A HIGHLY SOUGHT-AFTER BUSINESS LOCATION WITHIN THE HEART OF WASHINGTON***SITUATED IN THE WELL-ESTABLISHED INDUSTRIAL AREA OF LUMLEY CLOSE, THIS PROPERTY OFFERS EXCELLENT CONNECTIVITY TO THE WIDER NORTH EAST REGION***HIGH ANNUAL RENTAL YIELD OF 15.4% (BASED ON GUIDE PRICE)***
***KEY FEATURES***
- Prominent location in a thriving commercial hub. Currently tenanted and operating as Lush Tanning.
- Modern industrial unit with adaptable internal layout
- Approximate floor space of 119.50 square metres, (1,286 square feet)
- Secure roller shutter access and ample on-site parking
- Ideal for a range of businesses, including distribution, light manufacturing, or storage
- Flexible space suitable for owner-occupiers or investors seeking rental income potential
- HIGH ANNUAL RENTAL YIELD - The annual rental income is £6,000 representing a high annual yield of 15.4% (based on guide price)
***TENURE*** - Long Leasehold. Held on a term of 99 years from 7.11.2014 expiring 6.11.2113 at a peppercorn rent.
Whether you're expanding your operations, relocating, or investing in commercial property, 122A Lumley Close offers a solid platform for growth.
***RECENT NEARBY RESIDENTIAL PROPERTY SALES***
- 89 Lumley Close, Washington, Tyne & Wear, NE38 0HZ - 2 bedroom - SOLD APR'24 - £60,000
- 80 Lumley Close, Washington, Tyne & Wear, NE38 0HZ - 1 bedroom - SOLD AUG'23 - £58,000
- 131 Lumley Close, Washington, Tyne & Wear, NE38 0HZ - 2 bedroom - SOLD JUL'23 - £70,000
***Washington is a town in the Sunderland district, in Tyne and Wear, It has a population of 51,318 as of 2021. It is located between Chester-le-Street, Gateshead and South Tyneside. Washington was designated a new town in 1964. It became part of Tyne and Wear in 1974.***
***There are several primary, secondary schools and colleges in the villages of Washington.***
***There is a major bus station situated at The Galleries, and another at Concord in the north of Washington. The primary provider of transport (buses) in the area is Go North East, with local services as well as connections to Newcastle upon Tyne, Sunderland, and many other towns and cities in the region.***
***Major roads run through Washington: the A182, the A1231 (Sunderland Highway) and the A195 all connect to the A1(M) motorway (which acts as the western boundary of Washington proper) or its feeder, the A194. Washington Services is situated between Junctions 64 and 65 of the A1(M), and incorporates a Travelodge.***
***Washington is situated 7.9 miles from Sunderland Railway Station***
***Washington in Tyne and Wear offers a variety of amenities, including attractions like the WWT Washington Wetland Centre, Washington Old Hall, and the Arts Centre Washington. There's also a Leisure Centre with a gym, swimming pool, and sports hall, as well as Hollywood Bowl for bowling and entertainment. The town also has shopping options at The Galleries, along with various pubs and restaurants, according to a local area guide. Additionally, there are nearby golf courses and the Durham CCC ground for cricket.***
Washington is a large town within the metropolitan borough of Sunderland, Tyne & Wear, located 7.3 miles west of Sunderland city centre and 8.1 miles southeast of Newcastle city centre. The property, situated on Lumley Close, is just across the A182, approximately 0.7 miles from The Galleries shopping centre, which is home to national retailers such as Sainsbury's, Boots, and Nationwide.
GUIDE PRICE: £39,000
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A FANSTASTIC OPPORTUNITY TO ACQUIRE A VERSATILE, TENANTED COMMERCIAL UNIT IN A HIGHLY SOUGHT-AFTER BUSINESS LOCATION WITHIN THE HEART OF WASHINGTON
SITUATED IN THE WELL-ESTABLISHED INDUSTRIAL AREA OF LUMLEY CLOSE, THIS PROPERTY OFFERS EXCELLENT CONNECTIVITY TO THER WIDER NORTH EAST REGION
HIGH ANNUAL RENTAL YIELD OF 15.4% (BASED ON GUIDE PRICE)
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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