Property

Under Offer
Investment Leisure Retail

44-50 High Street West, Wallsend, Tyne & Wear, NE28 8HX

The property is two storey mid terraced unit with a pitched slate roof. The ground floor provides retail space with ancillary facilities to the rear. The first floor provides further storage and a kitchen. The unit could be suitable for a variety of uses subject to planning.

VIDEO ARCHIVE

Please click the links below to see our selection of videos:

INVESTMENT OPPORTUNITY – The freehold is available to purchase together with the neighbouring retail unit trading as Yazz, which is let on a lease at £10,400 per annum until 24th March 2025 – asking price on application.

LOCATION

Wallsend is a town located 3 miles east of Newcastle city centre and forms part of the wider Newcastle Conurbation connected via the metro system. The property occupies a prominent position on High Street West the main arterial road through the town with The Forum Shopping Centre located directly opposite.

DESCRIPTION

The property is two storey mid terraced unit with a pitched slate roof. The ground floor provides retail space with ancillary facilities to the rear. The first floor provides further storage and a kitchen. The unit could be suitable for a variety of uses subject to planning.

VIDEO ARCHIVE

Please click the links below to see our selection of videos:

ACCOMMODATION

Ground floor–            148.1 sq m           (1,594 sq ft)

First floor –                   59.9 sq m              (644 sq ft)

Total –                        207.96 sq m           (2,238 sq ft)

TERMS

The premises are available by way of a new full repairing and insuring lease at a rent of £18,750 per annum (exclusive). All other terms are to be agreed by negotiation. Alternatively, the freehold interest of the property may be available to purchase subject to the existing tenancy – price on application.

RATING ASSESSMENT 

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

Shop and premises: £19,250

The Small Business rate multiplier for the year 2020/2021 is 49.9 pence in the pound.

LEGAL COSTS

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

EPC

An EPC has been commissioned and will be available to interested parties shortly.

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.

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