Property

Investment

Vets4Pets & Childrens Nursery Investment – 18 Barnstaple Road, North Shields, Tyne & Wear, NE29 8QD

TENANCY INFORMATION

North Tyneside Vets for Pets Ltd have a 15 year lease from 4 July 2010 ending on 4 July 2025 at a passing rent of £25,000 per annum. Part of the building is let to Little Learners Childcare (NE) Ltd with personal guarantees from two private individuals for a term of years commencing 7 May 2019 ending on 31 January 2033 at a rent of £20,000 per annum. The tenant has the option to terminate the lease on 31 January 2028.

The total passing rent is therefore £45,000 per annum.

PROPOSAL

We are instructed to seek offers in excess of £625,000 for our clients’ freehold interest reflecting a net initial yield of 6.85% assuming purchasers’ costs of 5.12%.

LOCATION

North Shields is approximately 8 miles east of Newcastle upon Tyne, 2 miles west of Tynemouth and 8 miles to the north of Sunderland. The subject property is situated to the north west of North Shields in an area known locally as New York. The property is prominently positioned on a roundabout linking the A191 Billy Mill Lane and Rake Lane which in turn provide direct access to the A1058 Coast Road and the A19.

The property is also very close to North Tyneside General Hospital and a new build Lidl supermarket which is currently undergoing construction. Cobalt Business Park and Silverlink Retail Park are situated 1.3 miles and 1.6 miles from the property respectively

DESCRIPTION

The property comprises a former church which has been redeveloped and extended in various stages in order to provide accommodation for Vets for Pets veterinary surgery and Little Learners childcare nursery with a car park for approximately 13 cars.

The building and car park occupy a regular rectangular shaped site of total area 17,758 sq ft
(0.41 acres).

TENANCY INFORMATION

North Tyneside Vets for Pets Ltd have a 15 year lease from 4 July 2010 ending on 4 July 2025 at a passing rent of £25,000 per annum. Part of the building is let to Little Learners Childcare (NE) Ltd with personal guarantees from two private individuals for a term of years commencing 7 May 2019 ending on 31 January 2033 at a rent of £20,000 per annum. The tenant has the option to terminate the lease on 31 January 2028.

The total passing rent is therefore £45,000 per annum.

ACCOMMODATION

The net internal floor areas are as follows:

18 Barnstaple Road 213 sq m /  2,293 sq ft

18a Barnstaple Road 125 sq m / 1,345 sq ft

TOTAL 338 sqm / 3,638 sq ft

EPC

The property has the following EPC ratings:
18 Barnstaple Road D
18a Barnstable Road D

VIDEO ARCHIVE

The two links below redirect the user to YouTube video links of the subject property:

Video 1 – external
Video 2 – external

VAT

We understand the property is not elected to tax and therefore no VAT is payable.

LEGAL COSTS

Each party is to be responsible for their own costs incurred in the transaction.

TENURE

The property is held freehold

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 purchaser.

PROPOSAL

We are instructed to seek offers in excess of £625,000 for our clients’ freehold interest reflecting a net initial yield of 6.85% assuming purchasers’ costs of 5.12%.

VIEWING

Strictly By appointment through Johnson Tucker LLP. For more information please contact:

Daniel Capobasso MRICS
Mobile: 07968 618 948
Email: danielc@johnsontucker.co.uk

  • Location: North-Tyneside
  • Tenure: Freehold
  • Footage: 3,638 sq ft
  • Price: Offers in excess of £625,000 (NIY of 6.85%)
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