The property comprises a mid-terraced four storey building with accommodation arranged as ground floor sales with ground floor offices, first, second and third floor storage. The ground floor benefits from a glazed prominent frontage with the benefit of electric security roller shutters.
South Shields is located approximately 4 miles south east of the Tyne Tunnel, 8 miles east of Newcastle upon Tyne and provides principal commercial centre for South Tyneside. With close proximity to the A19 dual carriageway, the town enjoys excellent communication links including the Tyne and Wear Metro Network and has a resident population of 82,854 persons widening to 157,785 persons in the South Tyneside district. (source Focus 2011). There is ongoing regeneration through the South Shields 365 scheme with Phase 2 underway in 2018.
The property is located in a prominent position on King St, South Shields’ prime pedestrianised retail High Street. Nearby occupiers include Superdrug, Card Factory, Boots, Clarks and Tui as well as a range of other national and independent occupiers.
The building comprises the following Net Internal Areas;
|Description||Sq ft||Sq m|
|Ground Floor||91.46 sq m||984 sq ft|
|Ground Floor Rear||45.71 sq m||492 sq ft|
|(ITZA)||(65.44 sq m)||(704 sq ft)|
|First Floor||139.29 sq m||1,499 sq ft|
|Second Floor||50.73 sq m||546 sq ft|
|Third Floor||38.21 sq m||411 sq ft|
|Total||365.4 sq m||3,932 sq ft|
The premises are available by way of a new full repairing and insuring lease at a rent of £25,000 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: –
50 King Street:- £39,500
The Small Business rate for the year 2019/2020 is 49.1 pence in the pound.
Each party to bear their own legal costs incurred in the transaction.
The property has energy performance certificate rating of C58.
All figures quoted are exclusive of VAT where chargeable.
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.