Retail premises to let in Ocean Road, South Shields NE33

Location

The subject property is situated on Ocean Road in South Shields, which is a coastal town in South Tyneside, situated at the mouth of the River Tyne. The property is 0.5 miles from South Shields town centre and from South Shields Coast with attractions including South Marine Park, Bents Exhibition Park, Ocean Beach Pleasure Park and North Marine Park.

Ocean Road is serviced by local bus routes and South Shields Metro Station is 0.1 miles away. The property is also situated on the A183, which is a main road along the South Tyneside coast, providing direct access to Sunderland Coast.

Description

The property is a ground floor and raised ground floor retail unit with aluminium frame glazed part-return, part recessed frontage. Internally the property has part carpet/part vinyl floor, suspended ceiling, air conditioning and lighting. The property also benefits from staff room, kitchen, w/c facilities and rear service access.

Accommodation

Ground floor 93m² (1,001ft²)

First floor 15.6m2 (167ft2)

Total size of 108.6m2 (1,168ft2)

Terms

The property is available to let by way of an assignment of the existing lease or more likely by way of a new Fri lease for a term of years to be agreed at an asking rent of £17,500 per annum.

Rating assessment

Description rv Estimated Rates Payable

Shop and premises £11,000 Exempt

We are advised that the rateable value of the premises as at 1 April 2017 is £11,000 and we have estimated the actual rates payable for the current year above. This is based on the standard Small Business Rate of 49.9p in the pound. However, interested parties should confirm the current position with the Local Authority.

VAT

The Landlord has not waived their VAT exemption so at present no VAT would be charged on the rent. All offers will however be deemed net of VAT.

Legal costs

The applicant tenant will be asked to contribute 50% or £1,000.00 +VAT (whichever is the lower) towards the costs of the Landlords solicitors preparing the Lease.