Retail premises for sale in High Street East, Wallsend NE28

Location

201-205 High Street East is situated on a prominent corner where High Street East meets Northumberland Street. High Street East is a popular destination for shoppers in the area which merges well with the built up residential population the town has to offer.

The local footfall is promoted by the transport routes that serve High Street East. The Town Hall Bus stops are located 200ft away and run to Whitley Bay and Gateshead with multiple stops throughout. Wallsend Metro can be accessed via the A186 and is located 0.5 miles from the subject property.

Description

The property comprises of 3 separate units. There are 2 ground floor retail units, and one first floor flat. 201 High Street East is currently let to a local occupier who uses the premises as a barber shop. 203 High Street East is a vacant retail unit adjacent to 201 High Street East and opposite The Town Hall. The first floor flat is located above the two retail units and is let to a single occupier.

The retail units have a very similar arrangement, both have a great frontage onto the High Street and benefit from a good sized retail zone with W/C facilities and a kitchen area to the rear. The residential above is a 2 bed flat with a modern kitchen area and bathroom, towards the rear is a small yard area.

Accommodation

We calculate the approximate net/gross internal floor areas to be as follows:

201 Ground Floor 32m² 344ft²
203 Ground Floor 39m² 420ft²
205 First Floor Flat 84m² 904ft²
Total 155m² 1,668ft²

EPC rating

201 High Street East EPC (commercial): 42B
203 High Street East EPC (commercial): 57B
205 High Street East EPC (residential): 52E

Rating Assessment
The rateable value for the commercial units can be found online via the Valuation Office Agency.

Property Rent Lease Term Deposit
201 High Street East £5,400 Rolling tenancy £450
203 High Street East (vacant) n/a n/a n/a
205 High Street East £5,400 Rolling tenancy £450

Terms

The property has a guide price of £160,000 (One Hundred and Sixty Thousand Pounds).

VAT

All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT.

Legal costs

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

Anti-money laundering regulations

In accordance with the Anti-Money Laundering Regulations we are required to verify the identify of the Purchaser/Tenant. We will do so based on name and address data provided but we may also require you to provide two forms of identification. We will require the Purchaser/Tenant to provide proof of the source of income.