Commercial property for sale in Fowler Street, South Shields NE33
* Calls to this number will be recorded for quality, compliance and training purposes.
Property features
- To be offered on Tuesday 16 April
- High Yielding Retail Investment
- Let to the Undoubted Covenant of Clydesdale Bank (t/a Virgin Money)
- Five Year Lease Expiring 23/12/2025
- Producing £30,000 per annum
- Vacant Second Floor Providing Asset Management/Development Potential (stp)
- Guide Price Reflects 25% Gross Yield
- No VAT
Property description
Strapline
Auction Sale - 15/04/2024
High Yielding Retail Investment
Let to Virgin Money on a lease Expiring December 2025 and paying £30,000 per annum.
Vacant Second Floor Offering Asset Management/Development Potential (subject to requisite consents).
Description
The property comprises a high yielding retail investment let to the undoubted covenant of Clydesdale Bank (t/a Virgin Money) and occupying a prominent town centre pitch.
The ground floor comprises a double fronted retail units and, alongside the first floor, is let to Clydesdale Bank (t/a Virgin Money) on a five year lease expiring 24/12/2025 and paying a rent of £30,000 per annum.
The second floor is offered with vacant possession and may be suitable for development/conversion to alternative uses including residential (subject to obtaining the requisite consents). The vacant space also offers instant asset management potential via letting.
Planning
Whilst there are no extant planning consents, the vacant second floor could be suitable for development/conversion to alternative uses, including residential (subject to obtaining the requisite consents.
For more information about this property, please contact
Savills - National Auctions, W1G on +44 20 8022 4160 * (local rate)
Disclaimer
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Savills - National Auctions, and do not constitute property particulars. Please contact Savills - National Auctions 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.
.png){kind=logo}