Town centre business premises are up for grabs

TWO business premises in Morpeth town centre have been put up for sale.

The freehold property has been put on the market with chartered surveyors the Landwood Group, offering a rare commercial investment opportunity.

The premises are currently occupied by a Chinese restaurant and opticians at 61-62 Bridge Street, and a bathroom and kitchen showroom, with residential and office space above, at 26-28 Newgate Street.

The sale is not thought to be affecting the respective tenants, who are running their businesses as usual.

Agent Antony Rosindale, of the Landwood Group, said: “The two buildings are situated within the town centre. Commercial freeholds are rarely traded within the town centre and as such we expect high demand from local and regional investors.”

The properties, along with a third in North Shields, are available individually or as a single lot.

A recent UK commercial market survey by the Royal Institution of Chartered Surveyors suggested that buying inquiries in the investment sector flattened last year due to the difficult economic climate.

However, Mr Rosindale is confident that interest in the Morpeth premises will be strong.

“I see this as an attractive proposition, which will attract interest from investors, who will see it as a real opportunity to buck the trend,” he said.

Landwood Group’s Leeds office was instructed in the sale by Philip Deyes and Sean Williams of Leonard Curtis, who were appointed receivers of the properties in January.

Asking prices are available on application.

For further details call 0113 403 2010.