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Freehold High Street Shop Investment
High Yielding Retail Investment – 12.13% niy
The property is located on the south side of Jackson Street in Gateshead town centre which is one of the main retail thoroughfares leading from High Street to Gateshead Bus Concourse and Metro Station.
Jackson Street is a principle bus route and there are a number of bus stops situated directly to the front of the property. The new Tesco Trinity Shopping scheme is located opposite. Nearby occupiers include the Post Office, Savers, Mind, jd Weatherspoon and Halifax.
The property comprises two retail units with self-contained offices above.
The net internal floor areas are as follows:
Address Description Area Sq m Area Sq ft 21 Jackson Street Ground Floor 91.14 981 21a Jackson Street Ground Floor 100 1,076 First Floor 242 2,604 total 433.14 4,663
We understand the property is held freehold.
Address Tenant Lease Details Current Rent pa Ground Floor & First Floor 21a Jackson Street Mind Charity Holding over since 28/09/17 £17,500 21 Jackson Street Private Individual 3 year lease from 25/03/21 with 12 month break £9,500 £27,000
The properties have the following EPC ratings:
21 Jackson Street - E 21a Jackson Street – being commissioned
We understand the properties are not elected for tax and therefore no VAT is payable.
Each party is to be responsible for their own costs incurred in the transaction.
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.
Offers in excess of £220,000 are invited for the freehold interest reflecting a net initial yield of 11.98% assuming standard purchasers’ costs of 2.44%.
For more information about this property, please contact Johnson Tucker LLP, NE15 on +44 191 244 9616 * (local rate)
Contact Johnson Tucker LLP about this property
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