Block of flats for sale in Denmark Centre, South Shields NE33

The property comprises a well presented retail unit over two floors comprising a ground floor of 121.00 sq m. (1302 sq ft) and a first floor of 48.30 sq m (520 sq ft) and currently is occupied as a nail bar.
The Denmark Centre is a popular modern shopping centre within the town centre located at the junctions of Fowler Street, King Street and Keppel Street. Nearby occupiers include hsbc, Thomas Cook and Virgin Money and the Centre includes Gala Bingo and Savers.

South Shields is a coastal town on the mouth of the River Tyne only 8 miles from Newcastle upon Tyne and 4 miles from the Tyne Tunnel. It is well served by the major road network including the A1300 and the A194 which leads to the A19 and also benefits from the Tyne & Wear Metro system.
South Shields is the subject of ongoing regeneration and has a population of 83,000 which is the third largest town in the Tyneside area following Newcastle upon Tyne and Gateshead. It is located in the South Tyneside District which has a population of 116,000.

The property is available on ground lease to 28th November 2130 at a peppercorn ground rent.

Tenancy

The property is let to Aun Tuan Ma trading as Angel Beauty on a 10 year lease from 1st May 2018 at a rent of £15,600 p.a. Which is subject to review in each 3rd year of the term to market rent or rpi, whichever the greater. There is a tenant only break clause on 30th April 2023 subject to 6 months written prior notice.