Rent: £Price on Application
Region: Tyne and Wear
Town/City: South Shields
LOCATION
The property is situated on the corner of Fowler Street and Keppel Street adjacent to the recently completed Bus and Metro Passenger Transport Interchange and close to King Street, South Shields’ principal retail thoroughfare.
ASDA, Next, River Island and B&M also trade close by adjacent to the Interchange.
ACCOMMODATION
Briefly the premises provide the following Gross Internal Areas and dimensions:-
| Net frontage – Fowler Street | 8.00 m | 26’ 03” |
| Net frontage – Keppel Street | 7.50 m | 24’ 07” |
| Internal Width (max) | 10.25 m | 33’ 08” |
| Shop Depth | 23.44 m | 76’ 10” |
| Ground Floor | 196.25 m² | 2,113 sq ft |
| Basement | 180.12 m² | 1,939 sq ft |
| First Floor | 193.15 m² | 2,079 sq ft |
| Second Floor | 201.08 m² | 2,164 sq ft |
There is an additional external area to the western elevation accessed by road and fronting Keppel
Street which could be made available for private car parking or alternative uses subject to obtaining the necessary consents or licences.
A letting can be negotiated for the whole of the property or, subject to viability considerations, for individual floors.
RATING ASSESSMENTS
Following completion of the refurbishment works the property has not been re assessed for rating
purposes.
USE
The property is suitable for a number of different uses including retail, office, restaurant and leisure under the new Class E. However, our client may also consider alternative uses such as Public House, boutique Hotel and residential use (for the upper floors) subject to the necessary consents.
LEASE TERMS
Our client has a preference to retain the freehold interest of the property and is prepared to consider a long 125 year full repairing lease at a peppercorn rent and premium payment.
Alternatively, a lease for a term to be agreed on a full repairing basis and incorporating upward rent reviews at 5 yearly intervals can be negotiated at a rent to be agreed depending on the space taken.
The landlord will insure the building and recover the cost from the tenant(s). For the avoidance of doubt the insurance of the glass shop front will be the responsibility of the
tenant.
If the property is let to more than one occupier a service charge may be appropriate whereby the
landlord will undertake repairs to the structure and common parts and will recover a fair proportion of these costs from each of the tenants.
RENT
This will vary dependant on the extent of the demise taken and use proposed. Interested parties should discuss their proposals with the agents.
VIEWING
Strictly by appointment with the Sole Letting Agent. Please contact:-
Ian Thurlbeck
M: 07515 831417
E: iant@atretail.co.uk
Property type: Leisure, Retail
Rateable value: £TBC
Planning use: E
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