Property

Leisure Retail

36-38 King Street, South Shields, NE33 1HU

  • Prominent pedestrianised retail location in the heart of the town centre
  • Close to other national occupiers including Natwest (adjacent), One Below (opposite), McDonalds, Greggs, Holland & Barratt, Specsavers, JD Sport, New Look & Café Nero
  • Total floor area of 7,217 sq ft over basement, ground and three upper floors
  • Close to South Shields Metro Station & Transport Interchange
  • Asking Rent: £37,500 per annum

LOCATION

South Shields is situated south of the River Tyne, some 11 miles east of Newcastle upon Tyne. Road communications are good, with the A1300 connecting to the A194 and hence the A1, whilst the Metro provides frequent services to Newcastle city centre, the nearest Metro stop being a short walk from the property.

The town centre is undergoing significant redevelopment with the £100m South Shields 365 project. This will provide a new retail, leisure and cinema development. The new transport interchange and surrounding retail units have been recently completed.

The property is situated on the north side of the pedestrianised King Street, in the heart of the town centre. South Shields Metro Station is diagonally opposite, whilst occupiers close by include NatWest (adjacent), McDonalds, Greggs, New Look, Caffè Nero, Specsavers and Holland & Barrett, amongst many others.

DESCRIPTION

Mid-terraced property arranged over basement, ground and three upper floors providing retail accommodation, previously occupied as Bon Marche. The premises would be suitable for a range of retailing uses.

 ACCOMMODATION

Basement      71.2 sqm  (766 sq ft)
Ground Floor      219.8 sqm  (2,366 sq ft)
First Floor      199.8 sqm  (2,151 sq ft)
Second Floor      111.7 sq m  (1,202 sq ft)
Third Floor      68.0 sq m  (732 sq ft)
Total      670.5 sq m  (7,217 sq ft)

TERMS

The premises are available by way of a new full repairing and insuring lease at a rent of £37,500 per annum (exclusive). All other terms are to be agreed by negotiation.

RATING ASSESSMENT 

The rating assessment currently appearing on the 2017 Valuation List is as follows: –

Shop & Premises:  £56,000

LEGAL COSTS

Each party to bear their own legal costs incurred in the transaction.

EPC

The property has an Energy Performance Certificate rating of E125

VAT

All figures quoted are exclusive of VAT where chargeable.

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 tenant.

Processing...
Thank you! Your subscription has been confirmed. You'll hear from us soon.
Sign up for our newsletter
ErrorHere