This freehold retail parade presents a unique investment opportunity located in the bustling coastal town of Whitley Bay, approximately 10 miles northeast of Newcastle upon Tyne. Comprising ten shops with separate upper parts, the property currently generates an annual rental income of £115,100. With all units vacant, it offers significant development potential for new ventures or residential conversion. The expansive service yard at the rear adds to the functional appeal of this property.
Situated on Park View, a major retail thoroughfare renowned for its foot traffic and diverse mix of established businesses, this location is poised for future growth due to ongoing regeneration efforts in the area. Accessible via Whitley Bay Metro Station and major road networks including the A1058 Coast Road, it benefits from excellent connectivity to Newcastle city centre and surrounding areas.
Previously approved plans for converting the first floor into six residential units have lapsed, indicating that similar opportunities for redevelopment or repurposing exist, subject to local council approvals. Investors and developers should explore all avenues as North Tyneside Council may entertain fresh proposals that align with regional growth strategies.
