Retail premises to let in Park Road, Wallsend NE28

Location

The subject property is located on the corner of Park Road and High Street in Wallsend town centre. The property is situated within a popular and established business and retail location with nearby local and national occupiers, and The Forum Shopping Centre is just 0.2 miles away. Wallsend is a town close to the bank of the River Tyne which is situated between the North Tyneside coast, 5 miles to the east and Newcastle upon Tyne, 4 miles to the west.

High Street forms part of the A193 which is a main road linking Newcastle upon Tyne city centre to the North Tyneside coast via the A19. There are good public transport links to the property with Wallsend Metro Station just 0.2 miles away and local bus routes which service the High Street.

Description

The subject property comprises a ground floor retail unit, occupying a prominent corner position and benefits from a glazed return frontage. The property was most recently let as a café, however, it may be suitable for a variety of uses within Use Class E.

Accommodation

Total 39.4m² 424ft²

Rating assessment

The rateable value of the premises as at 1 April 2023 is £3,450 and the estimated rates payable for the current year is £1,721.55. 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.

EPC rating

E117

Terms

The property is available by way of a new lease with terms to be agreed at £7,500 (Seven Thousand Five Hundred Pounds) per annum. A service charge is payable which includes utilities and further information is available on request.

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 the Purchaser/Tenant will be required to provide two forms of identification and proof of the source of income.