Retail premises to let in North Shields, 18 – 19 Bedford Way, The Beacon Shopping Centre NE29

Location
The Beacon Shopping Centre comprises over 186,000 sq ft of retail accommodation with in excess of 40 retail units. The centre is anchored by Wilko (52,000 sq ft), Home Bargains, Boots. Greggs, cex and Holland & Barrett are among some of the retailers represented within the scheme. There is access to a dedicated car park providing 460 spaces and the centre has a footfall of 120,000 persons per week. The unit occupies a very prominent location at the head of the internal mall adjoining Poundland with other nearby retailers including New Look, cex, Card Factory and Wilkos as indicated on the attached Goad extract.

Accommodation
The accommodation is arranged over ground and first floors and offers the following approximate floor areas and dimensions:-

Internal Width
39 ft 4”
11.97 m

Ground Floor Sales
2,637 sq ft
244.9 sq m

First Floor Storage
1,504 sq ft
139.7 sq m

tenure
The premises are available to let by way of a new effectively full repairing and insuring lease for a term to be agreed subject to five yearly rent reviews at an initial rent of £39,500 per annum exclusive.

Rating assessment
The property is assessed for rating purposes as follows:-

Rateable Value
£42,250

Rates Payable 2019/20
£13,816

The above figure assumes the tenant will benefit from the Government reduction of 33.3% from April 2019. The total claim allowance for any one Company is £200,000pa. Interested Parties should seek verification of the above from the local Rates Authority.

Service charge
The current on account service charge for 2018 is £11,966 excl.

Energy performance certificate
The property has an EPC rating of 54 (Band C).

Legal costs
Each party will bear their respective legal costs incurred in connection with this transaction.

VAT
All figures quoted in these terms are exclusive of any VAT that may be payable.

Viewing
Strictly by prior appointment through:
Ian Angus
dd: Mob: Email:

Or
Pete Townsend
dd: Mob: Email:

Or alternatively through our joint agent Jackson Criss