Retail premises to let in Sea Winnings Way, 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 has been fitted to a good standard internally and benefits from laminate flooring, spot lights, separate staff breakout areas and WC.

There is a parking space to the rear.

Accommodation

The property includes the following gross internal areas:

Ground Floor 100.24 sq m / 1,079 sq ft

Terms

The property is available to let by way of an effectively full repairing and insuring lease for a term of years to be agreed at an initial rent of £17,500 per annum. Service charge is payable on demand, details of which are available upon application.

Rating assessment

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

Rateable Value - £13,000

The Small Business Rate for the year 2023/2024 is 49.9 pence in the pound. Small business rate relief may be available for qualifying parties, please confirm with the Local Authority.

Anti-money laundering

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.

Legal costs

Each party to bear their own legal costs incurred in the transaction.

Energy performance

The property has an Energy Performance Certificate rating of D(90).

VAT

All figures are exclusive of VAT where chargeable.