Retail premises for sale in The Drive, Gateshead NE10

Location

The property is located in Heworth, a residential area of the town of Gateshead. Heworth lies approximately 2 miles south of Gateshead town centre and 3 miles south of Newcastle city centre. Heworth is a predominately a residential suburb with excellent transport links via the A184 which leads to the A19 whilst it also benefits from a metro and mainline train station which are approximately 200m from the subject property.

The surrounding occupiers are predominantly residential with the nearest commercial occupiers found on a small retail parade to the west which includes a small convenience store, hairdressers as well as several food outlets.

Accommodation

Net internal area - 286 sq m (3,078 sq ft)

Terms

The freehold interest in the property is available to purchase for offers in excess of £200,000.

The premises are available by way of a new full repairing and insuring lease at a rent of £19,500 pa (exclusive). All other terms are to be agreed by negotiation.

Rating assessment

The rating assessment currently appearing on the Valuation List is as follows: -

2023 Rateable Value: £9,200

The Small Business rate for the year 2024/2025 is 49.9 pence in the pound. Full small business rates relief could be available for qualifying businesses.

Legal costs

Each party to bear their own legal costs incurred in the transaction.

EPC

The property has an energy performance certificate rating of E.

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 purchaser.