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Mixed Use Investment

South Shields £230,000 Freehold REF: NE2123

Location

This is an investment opportunity comprising a three storey mid terraced property and forming part of a busy terrace on the south side of Ocean Road, to the east of the town centre.

The immediate area comprises a mixture of leisure, retail and leisure accommodation.  Ocean Road is home to a wide range of restaurants and takeaways, that includes Colman’s Fish & Chips, plus a number of guesthouses and hotels. 

Description

This three - storey mid terrace property has been in the same ownership for many years.  The building is of traditional brick construction with a pitched slate roof and the living accommodation has separate access from the rear. 

Business Rates

Rateable Value £8,700

Council Tax

Band A.

Occupational Leases

156 Shields Road
A 4 bed maisonette which is let via 12 month AST from March 2025.  The current passing rent is £7,200 pa.

158 Ocean Road
Operated by Autismable as a learning centre & café via a 10 year IRI lease from March 2019. The current passing rent is £10,200 pa.

Services

Gas, electricity and water is installed to the property.  Both units have central heating.

Legal Costs
 
Each party to bear their own costs.

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.

 

If you'd like to know more about how we work, give us a call on 0191 487 8566, always happy to help.

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