Rent: £20,000 - £20,000
Region: Tyne and Wear
Town/City: South Shields
South Shields is the principal commercial centre of South Tyneside and is located approximately 8 miles east of Newcastle upon Tyne. The subject premises are situated on the pedestrianised King Street which constitutes the main shopping pitch within the town centre. Nearby retailers include Poundland, Peacocks, Boyes, WH Smith and Greggs as identified on the attached Goad extract.
The accommodation is arranged on ground, basement first and second floors and offers the following approximate floor areas and dimensions:
|Gross Frontage||22 ft 1″||7m|
|Internal Width||20 ft 3″||6m|
|Ground Floor Sales||1,718 sq ft||160 sq m|
|Ground Floor Ancillary||110 sq ft||10 sq m|
|First Floor Storage||1,187 sq ft||110 sq m|
|Second Floor Storage||1,410 sq ft||131 sq m|
The premises are offered on the basis of a new FRI lease for a term to be agreed subject to five yearly rent reviews at an initial rent of £20,000 per annum exclusive.
We are verbally advised that the premises are assessed as follows:-
|Rates payable April 2019/20||£7,223|
The above rates payable figure assumes the ingoing tenant will benefit from the Govt subsidy of 33.3% reduction for RV’s of less than £51,000 and applicable until at least April 2021. Interested parties are advised to seek verification of the above from the Local Rating Authority.
An Energy Performance Certificate is available on application from this office.
All figures quoted in these terms are exclusive of VAT where chargeable
Each party will be responsible for their own legal costs incurred in connection with the transaction.
Strictly by appointment with @retail:
DD: 0191 280 4235
Mob: 07960 466211
Property type: Retail
Rateable value: £22,000
Planning use: A1
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