Location
This is a portfolio of three properties with three separate addresses and tenants in all of the spaces. The properties are located at the junction of Park View with York Road, directly opposite the Whitley Bay shopping centre.
Whitley Bay is a popular and thriving seaside town 10 miles east of Newcastle upon Tyne. The town has benefitted from a range of new infrastructure improvements over the last few years that are attracting more people into the town. The new Premier Inn site and investment in the seafront promenade being the highlights.
Description
The portfolio comprises;
18 Park Avenue (first floor)
An extensive first floor space occupied by Jam Jar CIC and trading as a cinema.
20 Park Avenue
A ground floor retail unit occupied by The Avenue Café Limited and trading as a café.
22 - 24 Park Avenue
A double fronted ground floor unit occupied by Good Time Childcare Limited and trading as a children’s nursery.
VAT
The property is elected for VAT.
Legal Costs
Each party to be responsible for their own legal costs in the transaction.
Money Laundering Regulations
In accordance with the current Anti-Money Laundering Regulations the Purchaser or Tenant will be required to provide two forms of identification and proof of the source of income.
Viewings
Strictly by appointment with this office.
|
Property
|
Rent |
Lease Start Date |
Lease Term |
Rent Review |
Break Clause |
R.V. |
EPC rating |
|
18 Park Avenue |
£12,000 p.a.
|
11/7/2022 |
15 years FRI |
At every 5th anniversary
|
At every 5th anniversary |
£13,000 |
C |
|
20 Park Avenue |
£13,620 p.a. (£14,500 p.a. from 12.5.26)
|
12/5/2025 |
10 years FRI |
At the 5th anniversary |
At the 5th anniversary
|
£10,500 |
D |
|
22 - 24 Park Avenue |
£15,000 p.a.
|
19/1/2023 |
10 years FRI |
19/12/26 & 19/12/29
|
19/12/26 |
£16,750 |
C |
