Leisure/hospitality for sale in Ellison Street, Jarrow NE32

Location

The property is in Jarrow, South Tyneside, situated on the south bank of the River Tyne. It is located on the A185 and has an end terrace pitch connected to The Viking centre. The property benefits from being in close proximity to a range of businesses including Boots, Morrisons, Dominos, Greggs, and Peacocks - it is a well known, established commercial area in Jarrow.

The A19 passes through Jarrow which goes both North and South bound, it gives access to the likes of Northumberland and the surrounding Northern area. The A185 gives convenient access to Newcastle upon Tyne 6.8 miles from the subject property.

Local transport can be found on Sheldon Street 0.1 miles away where Jarrow Bus Station is. Buses run to Newcastle, Sunderland, North Shields, and South Shields. Jarrow Metro is situated on Grant Street 0.2 miles away.

Description

The property is arranged over a ground and first floor. Both floors are let to independent occupiers who have been in situ for multiple years.

The ground floor features a customer entrance hallway leading to a lobby area with several doors. These doors provide access to a small store, separate male and female restrooms, a small office currently used as a dressing area, a staff office, and a cellar.
The main area of the ground floor consists of predominantly open-plan floor space with several free-standing tables and chairs, as well as fixed perimeter seating. There is also a timber bar servery, and a lounge area with a separate pool table area.
The first floor houses a private members' health club and gym. The layout includes an entrance lobby with stairs leading to the first-floor customer reception area. Off this space are two rooms: One used as a staff room and the other as a treatment room for physiotherapy services.
Further stairs lead to a hallway, partially used as gym floor space, along with a spin studio, a class studio, and the main gym floor, which is spacious and open-plan with a fire escape.
There are separate men's and women's shower and changing facilities, locker areas in good condition, and a unisex sauna.

Rating assessment

The rateable value of the premises is to be reassessed.

Terms

We are instructed to seek offers at £650,000 (Six Hundred and Fifty Thousand Pounds).

Accommodation

We calculate the approximate net internal floor areas to be as follows:

Ground Floor 496m² 5,337ft²
First Floor 755m² 8,119ft²
Total 1,251m² 13,456ft²

EPC rating
C

tenancy schedule

Tenant Rent Term Lease Start Lease End Review Date
Jarrow Buffs Ltd £19,200 per annum 25 Years 04/04/2013 03/04/2038 Every 5th year
38 Fitness Ltd £66,000 per annum 10 Years 01/03/2024 28/02/2034 N/A

VAT

All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT.

Legal costs

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

Anti-money laundering regulations

In accordance with the Anti-Money Laundering Regulations we are required to verify the identify of the Purchaser/Tenant. We will do so based on name and address data provided but we may also require you to provide two forms of identification. We will require the Purchaser/Tenant to provide proof of the source of income.