Commercial Property To Let
Retail
Extensive Retail Opportunity
South Shields
£30,000 To Let (Leasehold)
REF: NE2237
Location
The property is located in the heart of the town centre within an area that is undergoing some considerable development. South Tyneside and the Marine College are relocating adjacent to the subject property and this will generate a large increase in footfall to this part of the town.
King Street is the main retail district for South Shields and many multiples are represented. The subject property is adjacent to Barclays Bank and The Card Factory and opposite Boots and would be suitable for retail, office and hospitality uses.
There are car parks to the rear of King Street and excellent public transport links via the Metro and the new transport interchange.
Description
The available space comprises a self-contained three-storey mid terrace property of traditional rendered brick construction with a pitched roof over. The space has been refurbished and redecorated prior to being vacated by Clarks and is ready for immediate occupation.
Access to the main retail space is off King Street and there is delivery access at the rear. There is an open plan space on the first floor, plus stores, and on the top floor there are offices and welfare spaces for the staff. Viewing is recommended.
Accommodation
Ground Floor Retail 1,085 sq.ft. (101 sq.m.)
Half Landing 400 sq.ft. ( 37 sq.m.)
First Floor 1,400 sq.ft. (130 sq.m.)
Second Floor 1,110 sq.ft. (103 sq.m.)
EPC
Rating D.
Tenure
A new EFRI lease is available at an initial rent of £30,000 per annum plus VAT. Rent reviews every 3rd year and full details on application.
Legal Costs
The ingoing tenant will be responsible for the landlord’s legal costs in the preparation of the new lease.
Business Rates
The premises are assessed as follows;
Rateable Value £21,000
Services
Electric and water are installed and there is air conditioning to the retail space.
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.
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