Rent: £45,000 - £45,000
Region: Tyne and Wear
Town/City: 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.
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.
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|
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.
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.
We are verbally advised by the local rating authority that the premises are assessed as follows:
|Rates Payable April 2019/20||£28,980|
Interested parties should make their own enquiries of the local rating authority for verification of the above.
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.
All figures quoted in these terms are exclusive of VAT where chargeable
Strictly by prior appointment joint agents @retail:
DD: 0191 280 4235
Mob: 07960 466 211
DD: 0191 280 4237
Mob: 07713 151 970
or alternatively via our joint agent Mason Partners:
Property type: Retail
Rateable value: £57,500
Planning use: A1
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