Retail premises for sale in Jackson Street, Gateshead NE8

£220,000 (£224.26/sq. ft)
Retail premises for sale From 981 - 1,076 sq. ft*
Interested in this property? Call +44 191 244 9616 * or Request Details

* Calls to this number will be recorded for quality, compliance and training purposes.

Property features

  • Freehold High Street Shop Investment
  • High Yielding Retail Investment – 12.13% niy

Property description

Location


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.


Description


The property comprises two retail units with self-contained offices above.


Accommodation


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


Tenure


We understand the property is held freehold.


Tenancy information


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


EPC


The properties have the following EPC ratings:

21 Jackson Street - E
21a Jackson Street – being commissioned


VAT


We understand the properties are not elected for tax and therefore no VAT is payable.


Legal costs


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.


Proposal


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%.

Property info

* Sizes listed are approximate. Please contact the agent to confirm actual size.

Arrange Viewing

For more information about this property, please contact
Johnson Tucker LLP, NE15 on +44 191 244 9616 * (local rate)

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Johnson Tucker LLP, and do not constitute property particulars. Please contact Johnson Tucker LLP for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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