Rent: £25,000 - £25,000
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 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.
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.
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|
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.
We are verbally advised by the local rating authority that the premises are assessed as follows:
Interested parties should make their own enquiries of the local rating authority for verification of the actual rates payable.
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.
All figures quoted in these terms are exclusive of VAT where chargeable
Strictly by prior appointment joint agents @retail:
DD: 0191 280 4236
Mob: 07515 831417
or alternatively via our joint agent Brackenridge Hanson Tate
Property type: Retail
Rateable value: £36,750
Planning use: A1
Download property details document
Get in touch with our local expert consultants to start a discussion about your requirements.
© Copyright 2020
Site delivered by Cargo Creative