- Prime, Roadside Convenience Anchored Retail Investment
- Secure tenant line up with Co-operative Group Food, Greggs and Harrison Family Vets
- Total income of £184,750 per annum
- WAULT to expiry of 15.12 years & 13.84 years to break
- Reversionary yield of 6.30% & 7.30% in March 2031 and 2036 respectively
- Net initial yield of 5.50%, assuming standard purchaser's costs of 6.47%.
- Prime roadside retail development centred around housing development of 3,600 homes
- Newly constructed with PC expected late April 2026
- Secure tenant line up with Co-op, Greggs, Harrison Vets
- High specification development extending to 8,250 ft
- WAULT to expiry of 15.15 years & 13.84 years to break
- Indexation across the Co-op & Greggs income
- Asking offers in excess of £3,155,000 reflecting a NIY of 5.50%
- Reversionary yield profile of 6.30% & 7.30% in March 2031 and 2036 respectively
Callerton sits 6 miles north west of Newcastle City Centre, just south of Ponteland and Newcastle International Airport, and west of Chapel Park. It is positioned to be a key residential area in the north east with 1,500+ new build homes already built and with almost full sales occupancy by Storey Homes, Miller Homes, and Bellway, with a further 2,000+ under construction by Bellway or in for planning with Northumberland Estates.
The scheme is positioned on Stamfordham Road, centrally located within the residential developments and will act as the local centre for the surrounding area positioned on the main road. It will provide a dedicated site with high visibility and 26 parking spaces and servicing provisions.
All figures quoted are exclusive of VAT which may apply.
We are instructed to seek offers in excess of £3,155,000 (Three Million, One Hundred and Fifty-Five Thousand Pounds), subject to contract and exclusive of VAT, reflecting a net initial yield of 5.50%, assuming standard purchaser's costs of 6.47%.
The development is due to complete towards the end of April 2026. The EPC Rating of the units will be 'A'. Predicted certificates can be provided on request.