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South Shields, 4 – 6 King Street

Rent: £45,000 - £45,000

Region: Tyne and Wear

Town/City: South Shields


SOUTH SHIELDS
South Shields is located approximately 4 miles south east of the Tyne Tunnel, 8 miles east of Newcastle upon Tyne and provides principal commercial centre for South Tyneside. With close proximity to the A19 dual carriageway, the town enjoys excellent communication links including the Tyne and Wear Metro Network and has a resident population of 82,854 persons widening to 157,785 persons in the South Tyneside district. (Focus 2011). There is ongoing regeneration through the South Shields 365 scheme with Phase 2 underway and set for completion in the near future. This £100Million redevelopment will only benefit the subject unit by increasing footfall and improving the public realm and accessibility for King Street.

 

LOCATION
The property is located in a prime position on King St, the principal pedestrianised retail thoroughfare, with nearby retailers including McDonalds, Post Office, CEX, Café Nero, Greggs, Specsavers and Shoe Zone.

 

ACCOMMODATION
The premises offer the following approximate floor areas and dimensions:

Gross Frontage 12.0 m 39’6”
Internal Width 11.8 m 38’9”
Ground Floor Sales 258.8 sq m 2,787 sq ft
First Floor 185.7 sq m 1,999 sq ft
Second Floor 70.1 sq m 755 sq ft
Third Floor 133.4 sq m 1,435 sq ft
Basement 25.1 sq m 271 sq ft

TENURE
The premises are available by way of a new effectively full repairing and insuring lease for a term of years to be agreed incorporating five yearly upward only rent reviews at a rent of £45,000pa excl  Strong incentives are available.

 

PLANNING
The unit has the benefit of A1 consent, however is suitable for a variety of other uses subject to consents.  Interested parties should verify this with the Local Authority with regards to their specific use.

 

RATES
We are verbally advised by the local rating authority that the premises are assessed as follows:

Rateable Value £57,500
Rates Payable April 2019/20 £28,980

Interested parties should make their own enquiries of the local rating authority for verification of the above.

 

LEGAL COSTS
Each party to be responsible for their own legal costs incurred in connection with the transaction.

 

ENERGY PERFORMANCE CERTIFICATE
According the EPC register, the rating for the unit is D92.  A full copy of the certificate is available on request.

 

VAT
All figures quoted in these terms are exclusive of VAT where chargeable

 

VIEWING
Strictly by prior appointment joint agents @retail:
Ian Angus
DD: 0191 280 4235
Mob: 07960 466 211
Email: iana@atretail.co.uk

Or

Pete Townsend

DD: 0191 280 4237

Mob: 07713 151 970

Email: pete@atretail.co.uk

or alternatively via our joint agent Mason Partners:

Property type: Retail

Rateable value: £57,500

Planning use: A1

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