Fully let freehold mixed-use investment opportunity. Fully let producing £30,000 per annum. Strong 10% yield offering attractive long-term investment. Ground floor restaurant trading successfully as Oli & Joes franchise. Self-contained 3 bedroom residential flat situated above restaurant. Large rear tarmac car park providing ample customer parking spaces. Lease term running from May 2021 until April 2036.

Offers over £300,000 Freehold
Ref I462

Location
The subject property is prominently situated on South Road in the heart of Prudhoe, a well-established and popular Northumberland town located approximately 11 miles west of Newcastle upon Tyne. South Road forms part of the town’s main commercial thoroughfare and benefits from a good level of passing vehicular and pedestrian traffic throughout the day.

The surrounding area comprises a strong mix of independent retailers, cafés, restaurants, convenience stores, and local service providers, creating a vibrant and established trading environment. Prudhoe benefits from a substantial residential catchment area and enjoys excellent transport links via the nearby A69, providing easy access to Newcastle, Hexham, and the wider Tyne Valley region.

The town is also served by Prudhoe railway station on the Newcastle to Carlisle line, together with regular local bus services, making the area easily accessible for both residents and visitors alike. The property’s central position within the town centre ensures strong visibility and convenience, making it well suited for continued restaurant use and residential investment.

Description
An excellent opportunity to acquire a fully let freehold mixed-use investment prominently positioned on South Road in the popular Northumberland town of Prudhoe. The property comprises a substantial semi-detached two storey building arranged as a well-established ground floor restaurant with spacious self-contained three-bedroom residential accommodation above, together with a large tarmac surfaced car park to the rear providing ample customer and staff parking.

The ground floor restaurant extends to approximately 154 sq. m. (1,657.8 sq. ft.) and has been fitted to a good standard throughout, offering an attractive dining area with contemporary décor, extensive fitted commercial kitchen facilities, preparation areas, storage and ancillary accommodation. The business is occupied and operated by the successful “Oli & Joes” restaurant franchise, which has built up a strong local reputation and loyal customer base.

The first-floor residential accommodation extends to approximately 61.7 sq. m. (664 sq. ft.) and provides a self-contained three-bedroom flat benefiting from living accommodation, fitted kitchen and modern bathroom facilities. The flat is incorporated within the existing tenancy and provides additional income security for the landlord.

Externally, the property benefits from a substantial rear tarmac parking area accessed via the side of the building, offering multiple off-street parking spaces which are considered a significant asset for both the restaurant and residential accommodation.

The property is fully let to a private tenant on a lease from 1st May 2021 until 30th April 2036 at a passing rent of £30,000 per annum, reflecting a strong 10% yield and providing a secure long-term income stream. The investment offers an ideal opportunity for investors seeking an established mixed-use asset with proven trading history and future income security.

Yield
Strong 10% yield with secure income stream.

Tenure
Freehold

EPC Rating
B/E

Viewing Arrangements
Strictly by appointment through this office.

Rateable Value
The 2026 Rating List entry is Rateable Value £13,500