Rent: £50,000 - £50,000
Region: Tyne and Wear
Town/City: South Shields
The property is located between on King Street, the principle retail area of South Shields and very close to the towns Metro station. It is located amongst major retailers on the high street, including Boots, Sports Direct, Santander, Card Factory and others. South Shields is benefitting from the 365 Development Scheme, which is investing £100m into the town centre. Phase 2 will provide a new Metro Station and Bus Station with enhanced links onto King St. Phase 1 (the award winning Library situated in the Market Place) was completed during 2016.
Further phases propose a cinema and restaurant development immediately to the south of King St and major improvements in public realm.
The property comprises a large shop with sales area, staff room, office and storage space on the ground floor. The first and second floors are ancillary storage areas.
|Ground Floor Sales||277 m²||2,981 sq ft|
|Ground Staff/Office/Storage||27 m²||292 sq ft|
|First Floor||290 m²||3,121 sq ft|
|Second Floor||270 m²||2,906 sq ft|
Alternatively, there is potential to split the ground floor into two units of around 1,700 sq ft each. Please contact @retail for further details. Plans available upon request.
The premises are available on a new Full Repairing and Insuring lease via a service charge provision for a term to be negotiated.
Rental offers in the region of £50,000pa for the full premises invited.
According to the Valuation Office Website – https://www.gov.uk/correct-your-business-rates The 2017 Rating Assessment puts the Rateable Value of the property at £66,500. Interested parties should make their own enquiries as subject to individual circumstances the actual amount payable may vary.
Each party to be responsible for their own legal costs incurred in connection with any transaction.
CODE OF PRACTICE
The landlord accepts the principles and will be flexible in considering alternative terms offered in accordance with the Commercial Lease Code of Practice.
ENERGY PERFORMANCE CERTIFICATE
The Energy Performance Rating of the property is E110. A full copy of the Energy Performance Certificate is available on request.
All figures quoted in these terms are exclusive of VAT where chargeable.
Strictly by appointment with Ian Thurlbeck or Pete Townsend at @retail;
dd 0191 280 4236
Mobile 07515 831417
dd 0191 280 4239
Mobile 07713 151970
Property type: Retail
Rateable value: £66,500
Planning use: A1
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