Property

Retail

50 King Street, South Shields, Tyne & Wear, NE33 1HZ

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.

LOCATION

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.

SITUATION

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.

ACCOMODATION

The building comprises the following Net Internal Areas;

DescriptionSq ftSq m

 

Ground Floor91.46 sq m984 sq ft
Ground Floor Rear45.71 sq m492 sq ft
(ITZA)(65.44 sq m)(704 sq ft)
First Floor139.29 sq m1,499 sq ft
Second Floor50.73 sq m546 sq ft
Third Floor38.21 sq m411 sq ft
Total365.4 sq m3,932 sq ft

TERMS

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.

RATING ASSESSMENT 

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.

LEGAL COSTS

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

EPC

The property has energy performance certificate rating of C58.

VAT

All figures quoted are exclusive of VAT where chargeable.

ANTI-MONEY LAUNDERING

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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