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South Shields, 48 King Street

Rent: £25,000 - £25,000

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 9 miles North West of Sunderland. South Shields 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. (source Focus 2011).
The Town has benefited from substantial regeneration (The 365 Initiative) which has already seen completion of The Word, a modern Library and Social Hub ,built in the Market Place and the new Passenger Transport Interchange works are also nearing completion right in the centre of the town.  Further phases to include a cinema and restaurant units and additional retail are also proposed.

 

LOCATION
The property probably occupies the best position on King St, the town’s principal pedestrianised retail thoroughfare, with nearby retailers including H Samuel, Santander, NewLook, Boots, JD Sports and Clintons as indicated on the attached Goad extract.

 

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

Gross Frontage 7.62 m 25’ 00”
Internal Width (front) 7.01 m 23’ 00”
Internal Width (rear) 6.80 m 22’ 04”
Shop Depth 16.26 m 53’ 04”
Ground Floor NIA 110.36 sq m 1,165 sq ft
First Floor Store 62.99 sq m 678 sq ft
First Floor Office 7.25 sq m 78 sq ft
First Floor Kitchen 2.97 sq m 32 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 in the region of £25,000 pa.

 

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

Rateable Value £36,750

Interested parties should make their own enquiries of the local rating authority for verification of the actual rates payable.

 

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 E112.  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 Thurlbeck
DD: 0191 280 4236
Mob: 07515 831417
Email: iant@atretail.co.uk

or alternatively via our joint agent Brackenridge Hanson Tate

Property type: Retail

Rateable value: £36,750

Planning use: A1

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