Property

Retail

Ground Floor Unit D, 375 Prince Edward Road, South Shields, NE34 7LZ

Ground floor retail with the benefit of large glazed frontage, suspended tile ceiling and roller shutter. There is a shared rear service area with WC and access to private service yard.

LOCATION

South Shields is a coastal town and popular seaside resort on the North East coast. The town lies within the Tyne & Wear Conurbation located at the mouth of the River Tyne and has a resident population of approximately 85,000 people within its primary catchment and a wider Tyne & Wear population in excess of one million.

SITUATION

The property forms part of the substantial retail parade along Prince Edward Road comprising a mixture of both local and national retailers including such occupiers as Pizza Hut, Superdrug, Ladbrokes, Iceland, Greggs, Boots, Tesco, Card Factory, Sainsburys among others.

ACCOMMODATION

The ground floor space comprises approximately 51.69 sq m (556 sq ft).

There is also a substantial rear and side car park suitable for up to twelve vehicles.

TERMS

The property is offered by way of a new effective full repairing and insuring lease at a rent of £5,500 per annum exclusive of all other outgoings and VAT. All other terms are to be agreed.

RATING ASSESSMENT 

The rating assessment currently appearing on the 2017 Valuation List is as follows: – Shop & Premises:  £5,300

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

Due to the Rateable Value being beneath £15,000 we understand that full business relief may be available. All interested parties are urged to make their own enquiries in this regard.

LEGAL COSTS

Each party to be responsible for their own costs in connection with a new lease.

EPC

EPC rating to be confirmed.

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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