Morpeth retail property defies 'uncertain economic climate’ to fetch £585k

A retail investment property in the centre of Morpeth has sold for six-figures.

Property consultancy GVA sold 11/12 Market Place, acting on behalf of owner Northern Retail Consortium, for £585k.

The building is currently let to Chisholm Bookmakers Ltd and features a second-floor office sub-let to D&P Asset Management.

GVA investment surveyor Lynsey Underwood said the transaction demonstrates the appeal of prime retail assets despite broader economic uncertainty.

She explained: “We are delighted to have sold this retail investment on behalf of the Northern Retail Consortium.

“Morpeth is an affluent Northumberland market town with an established retail offering.”

Lynsey added: “This sale demonstrates that regardless of the uncertain economic climate, prime retail assets in established pitches continue to attract investors looking for secure income with strong returns.”

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