The region’s largest full-service property firm, Bradley Hall, has successfully sold a £1.3million investment property in the market town of Morpeth.
21-23 Bridge Street sits at the heart of Morpeth’s bustling town centre and is currently tenanted by Greggs and Boots Opticians on the ground floor, while the upper floors have been refurbished to provide four apartments. The sale of the mixed-use investment was facilitated by Carl O’Brien- Head of Valuations- and Harry Towers, Chartered Surveyor at Bradley Hall.
The site totals 3,021 sq ft of retail space and 3,672 sq ft of residential space, with the upper floors undergoing significant renovation to create four self-contained two-bedroom apartments with en-suite bathrooms and open plan kitchen and living areas.
The apartments have been completed to create additional housing opportunities for Morpeth residents, ideal for young professionals or those looking to be in the heart of the town.
The retail units are let by two large national firms- Greggs and Boots-, with neighbouring tenants including Costa Coffee, Superdrug and the popular Sanderson Arcade, home to a number of local and national businesses. The town’s shopping district sees a footfall of over 2.85 million each year, with footfall levels returning to pre-COVID numbers.
The property initially came to Bradley Hall’s attention through its Valuation and Asset Management teams, who acted on behalf of the landlord to complete a lease renewal for Boots, led by head of department Carl O’Brien. Following the successful completion of this work, the landlord engaged Bradley Hall’s Commercial Agency team to bring the property to market.
Harry Towers, Chartered Surveyor at Bradley Hall, commented on the sale of the property: “I am pleased to have supported our client to sell this fantastic mixed-use investment property in the popular town of Morpeth, and work alongside Carl and the Valuation team to provide a full-service approach to the deal.
“We had lots of interest in the property, thanks to our comprehensive marketing campaign, and I am pleased that we could achieve a successful sale off a guide price of £1.3million.
“As a team, we pride ourselves on working proactively for each client, and alongside our strong digital presence, we ensure that we match the right buyers or tenants with each property-boosting the region’s economy.
“This is a key location in Morpeth, with a high footfall, and I am pleased Bradley Hall could support investment in the town.”
Bradley Hall’s Commercial Agency team support clients to sell, buy and lease properties across the North of England, with members of the team experts in office, retail, licensed and leisure, land and development, industrial, investment and acquisitions.
The recent appointment of Anthony Cape as Principal Asset Manager further expands the firm’s service line, providing holistic advice for commercial landlords and tenants.
The firm, which was founded 36 years ago, has 13 Commercial Agents who work across Bradley Hall’s network of offices, providing end-to-end property support to clients across the UK.
Headed up by Director Richard Rafique, the team includes Lucy Mouter, William Reavley, Harry Towers, Callum Armstrong, Mae Gordon, Angus Todd, Mahir Mazhar, Michael McGhin, Joseph I’Anson, Benjamin Riddle, Josh Robinson and Paul Andrew, who provide agency services to clients from Berwick to Birmingham and further afield.
For more information on Bradley Hall’s Commercial Agency team, visit https://www.bradleyhall.co.uk/end-to-end-services/commercial/
