Retail premises to let in Westoe Crown Village, South Shields NE33

Location

South Shields is an important coastal town and one of the North East’s most popular seaside resorts. The town lies within the Tyne & Wear Conurbation and is located on the south bank of the River Tyne estuary. The town currently has a population of 75,000 people, whilst Tyne and Wear has a wider population of 1.13 million people.

Westoe is a suburb of South Shields. The subject property is situated in the heart of the newly developed Westoe Village which was developed by Taylor Wimpey. The development includes new housing and community facilities. The retail parade is at the centre of this redevelopment and close to The Westoe Crown Primary School, local parks and the sea front.

Description

The property comprises a ground floor, glazed frontage retail unit. The unit benefits from tiled flooring, LED lighting and three phase electricity. There is a separate staff kitchen, storage rooms and WC facilities.

Accommodation

The property has an approximate net internal area as follows;

92.90 sq m / 1000 sq ft

Terms

A new effectively Full Repairing & Insuring lease for a term to be agreed is available at £14,000 per annum exclusive. Flexible terms available.

Rating assessment

The rating assessment currently appearing on the Valuation List is as follows: -

Shop & Premises: £10,250

The small business multiplier for the year 2023/2024 is £49.9p. Full small business rates relief could be available for qualifying businesses.

Energy performance certificate

The premises has an EPC rating of B35.

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 tenant.