No longer on the market
This property is no longer on the market
MapRetail property (high street)
Features and description
- Two Floor A1 Retail Unit
- Tenanted Investment
- Let for £9,000 PA
- NIA 85.57sqm (921sqft)
- Very Popular Location
- Freehold Title
We are pleased to offer to auction this tenanted A1 retail unit, excellently situated along the popular Westoe Road, South Shields. The unit comprises two floors (ground floor and basement) within a three floor brick-built building. The ground floor consists of main sales area, storage and kitchen, with further storage space to the basement. The property is tenanted for £9,000 per annum, offering a great investment opportunity.
Rooms
Location
The subject property is located within Westoe Road around quarter of a mile outside South Shields main town centre. Westoe Road is one of the primary routes into the town from the east and is made up of various commercial businesses and residential property.
Accommodation
GROUND FLOOR
Main sales area: 28.70sqm
Internal storage: 18.40sqm
Kitchen: 11.90sqm
BASEMENT
Storage one: 15.55sqm
Storage two: 11.02sqm
NIA 85.57sqm (921sqft)
Lease Details
The property is let for £9,000 per annum on a ten year lease with no breaks, with a rent review every three years (first rent review to be on 2nd August 2021), which commenced in August 2018.
Tenure
Freehold. Title number TY222454.
Rateable Value
The adopted rateable value is £4,200 as of 1st April 2023.
Sourced from VOA.
EPC
Availale upon request.
Auctioneers Additional Comments
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.
Please be aware that any inquiry, bid or viewing of the subject property will require your details to be shared between both the marketing agent and The Auctioneer in order that all matters can be dealt with effectively.
This auction lot is being sold either by, conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.
The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via The Auctioneers or the Marketing Agents website.
Auctioneers Additional Comments
Your details may be shared with additional service providers via the marketing agent and/or The Auctioneer.
A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers' obligations and sellers' commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification and identity process in accordance with Anti Money Laundering procedures.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit of 5% of the purchase price of the lot subject to any special conditions detailed in the legal pack. The deposit will be a contribution to the purchase price. A non-refundable reservation fee may also be payable upon agreement of sale (Details of which can be obtained from the auctioneers website). The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.
Both the Marketing Agent and The Auctioneer may believe it necessary or beneficial to the customer to pass your details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.
About this agent
