60, 60A & 62 Myrtle Street, Ashington, Northumberland, NE63 0AU

Description

60, 60A & 62 Myrtle Street represents an exciting opportunity to acquire a substantial investment comprising of vacant retail premises adjoined by a vacant 5 bedroom house/flat, ideally suited to investors, landlords and developers looking for a project with extensive scope to add value. The property offers a range of potential uses and provides an excellent opportunity for refurbishment and improvement. Depending on the purchaser's requirements and any necessary planning or statutory consents, there may be potential to enhance the existing accommodation, develop the retail premises, or reconfigure the layout or create a stronger rental investment. It would benefit from modernisation and refurbishment throughout, allowing a purchaser to put their own stamp on the accommodation and potentially increase both rental income and capital value.

Accommodation

Vacant retail premises adjoined by a vacant 5 bedroom house/flat.

Location

Located within an established residential setting in the heart of Ashington, Myrtle Street benefits from its proximity to local amenities and everyday facilities, with transport links providing access to surrounding areas. The location also offers access to nearby employment, retail and leisure facilities, supporting high demand.

Tenure / Property Information

Investment Analysis

The £100,000 guide is not independently supported by sufficient evidence. The only supplied comparables are historic sales of 62 Myrtle Street at £25,000 in 2025 and £55,000 in 2011; both are leasehold records and are not sufficiently comparable to the full mixed-use holding comprising 60, 60A and 62. No reliable GDV or refurbishment budget can therefore be established.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, confirming tenure and permitted uses, obtaining refurbishment and planning advice, and securing independent commercial and residential rental evidence. Do not rely on the guide as an indicated value.

Works Required

Modernisation and refurbishment throughout, based on the auction description. Any reconfiguration, enhancement of the retail premises or change of use should be treated as subject to planning, statutory and other required consents. No specific defects or quantified works are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be quantified because GDV, rent, refurbishment cost, tenure details and finance costs are unavailable. The concept may involve refurbishment and reconfiguration, but planning and statutory consent requirements are unresolved.

Buy-to-Let Analysis

The property is vacant and no sufficiently specific rental comparables or auctioneer rent estimate are supplied. BTL income and yield cannot be established. The £3,600 including VAT administration charge is known, but other possible costs are unspecified.

Flip Analysis

A flip appraisal cannot be supported. There is no reliable GDV, quantified refurbishment allowance or supported selling-cost allowance. The supplied historic sales relate to 62 Myrtle Street only and do not establish the resale value of the entire mixed-use property.

Investor Risks & Due Diligence

• Tenure is stated as subject to the legal pack and has not been confirmed.

• The property is vacant, with no passing rent or supported rental estimate.

• The extent and cost of refurbishment are not quantified.

• Potential reconfiguration, development or changes to use may require planning or statutory consents.

• Additional search fees, sellers' costs, legal fees, transfer fees and other disbursements may apply but are not quantified.

• The supplied sales evidence concerns 62 Myrtle Street only and may not represent the value of the complete mixed-use holding.

Recommendation

Proceed only after reviewing the legal pack, confirming tenure and permitted uses, obtaining refurbishment and planning advice, and securing independent commercial and residential rental evidence. Do not rely on the guide as an indicated value.

Strategy Rating

Analysis Confidence

The evidence lacks tenure detail, EPC and property services information, rental evidence, refurbishment costs, planning status and directly comparable sales for the complete holding.