FOR SALE BY ONLINE AUCTION WEDNESDAY 18TH OF JUNE 2025 AT 9AM - ***GREAT OPPORTUNITY TO ACQUIRE A WELL-POSITIONED, TENANTED COMMERCIAL UNIT IN THE ESTABLISHED AND HIGHLY ACCESSIBLE STEPHENSTON INDUSTRIAL ESTATE IN WASHINGTON, TYNE & WEAR***THIS VERSATILE PROPERTY OFFERS AN EXCELLENT BASE FOR A VARIETY OF INDUSTRIAL, STORAGE, OR BUSINESS OPERATIONS***HIGH ANNUAL RENTAL YIELD OF 16.7% (BASED ON GUIDE PRICE)***
***KEY FEATURES***
- Approximate floor space of 63.62 square metres, (685 square feet). Currently tenanted and operating as A&J Hair Design.
- Flexible Use: Ideal for warehousing, light industrial, trade counter, or mixed commercial use
- Accessibility: Situated just minutes from the A1(M) and A1231, offering superb regional and national connectivity
- Secure Premises: Secure yard space with roller shutter access and on-site parking
Established Location: Surrounded by thriving local and national businesses within a well-maintained industrial estate
***LOCATION HIGHLIGHTS***:
- Located within easy reach of Newcastle, Sunderland, and Durham
- Strong transport links via road networks and public transport
- Close proximity to local amenities and services
***HIGH ANNUAL RENTAL YIELD*** - The annual rental income is £6,500 representing a high annual yield of 16.7% (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.
This property represents a strong investment opportunity for owner-occupiers or commercial landlords. The thriving location, flexible layout, and strong transport connections make it an appealing asset for a wide range of industries.
***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
To view legal documents for all properties, and to register for our online auctions please visit our website.
Purchases are subject to a Buyer’s Premium. There may also be additional fees on certain properties. Please refer to the Articles of Roup / Special Conditions in the Legal pack to confirm.
Please note that as per the Estate Agents Act 1979 the vendor of the property is a connected party.
GREAT OPPORTUNITY TO ACQUIRE A WELL-POSITIONED, TENANTED COMMERCIAL UNIT IN THE ESTABLISHED AND HIGHLY ACCESSIBLE STEPHENSTON INDUSTRIAL ESTATE IN WASHINGTON, TYNE & WEAR
THIS VERSATILE PROPERTY OFFERS AN EXCELLENT BASE FOR A VARIETY OF INDUSTRIAL, STORAGE, OR BUSINESS OPERATIONS
HIGH ANNUAL RENTAL YIELD OF 16.7% (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.
By setting a proxy bid, the system will automatically bid on your behalf to maintain your position as the highest bidder, up to your proxy bid amount. If you are outbid, you will be notified via email so you can opt to increase your bid if you so choose.
If two of more users place identical bids, the bid that was placed first takes precedence, and this includes proxy bids.
Another bidder placed an automatic proxy bid greater or equal to the bid you have just placed. You will need to bid again to stand a chance of winning.
