High Street Retail Property for sale

Westoe Road, South Shields NE33


Guide price
£85,000
921 ft²

Features

  • Freehold Title
  • Let for 9,000 pa
  • Nia 85.57sqm (921sqft)
  • Tenanted Investment
  • Two Floor A1 Retail Unit
  • Very Popular Location

Description

Summary

For sale by Online Auction until 13/05/2021 12:00pm : Terms and conditions apply.

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.

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 4,850 as of 1st April 2017.
Sourced from voa.

EPC

Availale upon request.

Additional Information

For further information please contact our office direct on , or alternatively via e-mail on . With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.

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 enquiry, bid or viewing of the subject property will require your details being 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 under 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 of 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 agreement of sale, the successful bidder will be expected to pay a non-refundable deposit and or reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) Full terms and conditions are available on 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. 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 obligation to use these recommended suppliers or services.

Categories

High Street Retail Property
Call
Property reference
CP_2D853DFE5C_109