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South Shields, 72 – 80 King Street

Rent: £25,000 - £25,000

Region: Tyne and Wear

Town/City: South Shields


LOCATION
The property is located in a prime position on King St, South Shields’ principal retail thoroughfare. There is a pay and display car park adjoining to the rear, and South Shields Metro Stop is located adjacent on King Street. Nearby occupiers include Superdrug, WHSmith, JD Sports, B&M Bargains, Caffé Nero, and Select.

 

DESCRIPTION
The property comprises of a prominent retail unit with sales accommodation at first floor level and ancillary first floor staff/store areas. Access is at ground level on King Street via stairwell and escalator and loading is available from the rear on North Gate car park. Plans showcasing the current layout are available upon request.

 

ACCOMMODATION
The property provides the following approximate floor areas:-

Retail Area 477 sq m 5,135 sq ft
Additional Storage 541 sq m 5,823 sq ft

The unit has potential to be split into 2 units of circa 5,000sq ft benefiting from separate access arrangements.  Further details available upon request.

 

TENURE
The premises are available on a new full repairing and insuring for a term of years to be agreed and incorporating five yearly upward only rent reviews as appropriate.

 

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 regard to their specific use.

 

RENT
£25,000 per annum exclusive of rates, services and other outgoings.

 

RATES
According to the Valuation Office website – https;//www.gov.uk/correct-your-business-rates, the 2018 Draft Rating Assessment is as follows:-

Rateable Value £25,250
Rates Payable 2019/20 £13,699.10

Interested parties are advised to make their own enquires as subject to individual circumstances the actual amount payable may vary.

 

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

 

ENERGY PERFORMANCE CERTIFICATE
According the EPC register, the rating for the unit is D76.  A full copy of the certificates is available on request.

 

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

 

VIEWING
Strictly by appointment through sole agents:
Ian Thurlbeck
Email iant@atretail.co.uk
DD 0191 280 4236
Mobile 07515 831417

Or
Pete Townsend
Email pete@atretail.co.uk
DD 0191 280 4239
Mobile 07713 151970

Property type: Retail

Rateable value: £25,250

Planning use: A1

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