Property

Investment

21 and 21a Jackson Street, Gateshead, NE8 1EE

The property comprises two retail units with self-contained offices above.

LOCATION

The property is located on the south side of Jackson Street in Gateshead town centre which is one of the main retail thoroughfares leading from High Street to Gateshead Bus Concourse and Metro Station.

Jackson Street is a principle bus route and there are a number of bus stops situated directly to the front of the property. The new Tesco Trinity Shopping scheme is located opposite. Nearby occupiers include the Post Office, Savers, Mind, JD Weatherspoon and Halifax.

ACCOMMODATION

The net internal floor areas are as follows:

Address DescriptionArea

Sq m

Area

Sq ft

21 Jackson StreetGround Floor91.14981
21a Jackson StreetGround Floor1001,076
 First Floor2422,604
TOTAL433.144,663

TENURE

We understand the property is held freehold.

TENANCY INFORMATION

Address Tenant Lease DetailsCurrent Rent pa
Ground Floor & First Floor 21a Jackson Street

 

Mind CharityHolding over since 28/09/17£17,500
21 Jackson StreetPrivate Individual3 year lease from 25/03/21 with 12 month break£9,500
   £27,000

EPC

The properties have the following EPC ratings:

21 Jackson Street – E

21a Jackson Street – being commissioned

VAT

We understand the properties are not elected for tax and therefore no VAT is payable.

LEGAL COSTS

Each party is to be responsible for their own costs incurred in the transaction.

ANTI-MONEY LAUNDERING REGULATIONS

In accordance with anti-money laundering regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser.

PROPOSAL

Offers in excess of £220,000 are invited for the freehold interest reflecting a net initial yield of 11.98% assuming standard purchasers’ costs of 2.44%.

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