Commercial property for sale in Russell Street, North Shields NE29

The property is located on Russell Street off Bedford Street in North Shields town centre. It is a two storey mid-terraced retail and residential property. The ground floor retail unit has a floor area of 49.5sqm (552.8sqft). Its is currently vacant. The first floor flat contains a lounge, two bedrooms, a kitchen and bathroom. The property is currently rented on protected tenancy terms.

Location

The property is located on Russell Street, forming part of Lovaine Place, off Bedford Street in North Shields town centre. North Shields is an established town situated on the north east coast of England, approximately nine miles east of Newcastle city centre on the north bank of the River Tyne. The location is provided with a significant range of local services and facilities for a sizeable local population.

Description

The property is a ground floor retail units with shop window frontage and electrical security shuttering over. The main retail space has been sub-divided to created four separate spaces. This can be altered or opened up with the landlords consent. Floor Area. 49sqm (552.8sqft).

Ground Floor Retail

Main Sales Area 25sqm (269sqft)
Recess Area 7.5sqm (80sqft)
Side Room 9.5sqm (102.25sqft)
Back Room 7.5sqm (80.73sqft)
Store Cupboard 2.4m (25.83sqft)
total floor area 49.5sqm (552.8sqft)

First Floor Flat

Ground floor
Entrance door to hall and stairs to first floor landing.

First floor

Current Tenancy Information

The ground floor retail unit is vacant. The first floor flat is let under protected tenancy terms currently at £284 per calendar month.

Services

The property is supplied with mains electricity, water and drainage.

Rating Liability

According to the Valuation Office Agency (voa) the ground floor retail premises currently has a Rateable Value of £6,700.

The first floor has a council tax band A rating.

Energy Performance

We await a copy of the energy performance certificate

Legal Costs

Each party to bear their own reasonable costs in this transaction.

Money Laundering Obligations

In accordance with the Anti-Money Laundering Regulations the Tenant will be required to provide two forms of identification and proof of the source of income.

Vat

All prices quoted are exclusive of VAT at the prevailing rate

Viewing

In accordance with the Anti-Money Laundering Regulations the Tenant will be required to provide two forms of identification and proof of the source of income.

Material Information

Asking price: £100,000
construction: Felt covered timber frame flat roof, brick main walls, solid concrete ground floor and suspended timber first floor.
Service charge: None
tenancy terms: The ground floor retail unit is vacant. The first floor flat is let under protected tenancy terms currently at £284 per calendar month.
Property: Retail shop. E(a) Display or retail sale of goods other than food. C3 Residential
utilities: Electricity and water. No gas.
Parking. On street payment parking.