Withdrawn
Withdrawn Prior
Sold
Sold Prior
Sold Post
The property comprises a prime, high yielding, retail investment opportunity occupying a prominent pedestrianised pitch in the heart of South Shields.
Arranged across basement, ground and three upper floors, the property is fully let to Households Bargains Limited, with Heaton Food Store Limited as Guarantor, on a recently signed 10 year lease expiring 20.05.2034 and paying £35,000 per annum.
The property includes substantial upper parts and therefore may be suitable for long term conversion/development (subject to the existing lease and any requisite consents).
King Street comprises the principal pedestrianised retail amenity in South Shields, with local occupiers including Sports Direct, Caffe Nero, McDonalds and Greggs.
Tenure
Freehold
Accommodation
Tenancy
The property is let to Households Bargains Limited, with Heaton Food Store Limited as Guarantor, on a recently signed 10 year lease expiring 20.05.2034 and paying £35,000 per annum.
The lease is on full repairing and insuring terms and includes a tenants break option in the 5th year.
Rent
Notes
We understand the property is elected for VAT. It is anticipated the sale will be treated as a Transfer of a Going Concern (TOGC).