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.
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.
|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)|
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.
The rating assessment currently appearing on the 2017 Valuation List is as follows: –
Shop & Premises: £56,000
Each party to bear their own legal costs incurred in the transaction.
The property has an Energy Performance Certificate rating of E125
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.