Retail premises to let in Team Valley Shopping Village, Gateshead NE11

Location

The property is located on the Team Valley Trading Estate, the North East’s premier office, retail and industrial estate.

The property is situated on Team Valley Shopping Village, a busy parade of shops centrally located, off the east of Kingsway which is the main thoroughfare, north to south, on the Team Valley estate.

Description

The property comprises a two storey former bank premises. The ground floor provides versatile open plan space along with a strong room as well as male and female WC facilities.

To the first floor there is open plan kitchen/office/break out space. Externally the property benefits from free customer parking. The property benefits from Use Class E and therefore could be suitable for a variety of uses.

Accommodation

The property includes the following gross internal areas:

Ground 123.30 sq m / 1,327 sq ft
First 51.00 sq m / 549 sq ft
Total 174.30 sq m / 1,876 sq ft

Terms

The property is offered by way of a new effectively fully repairing and insuring lease for a term of years to be agreed at a rent of £28,000 per annum.

Rating assessment

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

Bank & premises - £21,500

The Small Business Rate for the year 2023/2024 is 49.9 pence in the pound.

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 D93.

VAT

All figures are exclusive of VAT where chargeable.