Retail premises to let in Preston North Road, North Shields NE29

Location
The Collingwood Centre is anchored by Morrisons Superstore at the junction of the A192 and A1058 approximately 8.3 miles north east of Newcastle upon Tyne and 2 miles North West of the centre of Tynemouth. The parade serves a densely populated residential area and occupiers include Subway (adjacent), Sunlight, Dominos, Betfred and Morrison’s.

Description
The premises form part of a modern single storey parade of retail units benefiting from ample car parking facilities providing clear open sales space with staff and WC facilities to the rear.

Accommodation
The property briefly comprises as follows:-
Unit 13/14 (whole) ft2 m2
Ground Floor ft m
Sales Area Internal Width 37’7” 11.45
Sales Depth 75’0” 22.86
Overall Floor Area 2744 254.92

Option 2 - Possible subdivision
Our clients would consider subdivision into 2 separate units as set out below:-

Proposed Sub-division ft2 m2
Ground Floor ft m
Sales Area Proposed Internal Width 18’1’ 5.5
Max Depth 75’0 22.86
Sales Area 1356 125.97

Externally
Shared parking to front and loading to rear.

Tenure
A new Lease of the whole is available at a commencing annual rental of £45,000 plus VAT for a term of years to be agreed (minimum 5 years) on an effective Fri basis with service charge provisions. We are advised the service charge for the year ending March 2022 is circa £6,500 and the insurance apportionment for ye June 2022 is £960 pa. Alternatively, a rent of £25,000 per annum plus VAT per unit is sought plus apportioned insurance and service charge. Further details on request.

Costs
Each party will be responsible for their own Legal Fees incurred in the transaction.

Viewing
Contact – Mario Jaconelli or Alexa Reavley

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• VAT
The rent is subject to VAT.

Rateable Value (rv)
The Valuation Office has confirmed the Rateable Value of the whole is £41,000. The Uniform Business Rate for the Rates Year 2022/2023 is 49.9p. If necessary, a written request should be made to the Local Authority for confirmation. An application would need to be made to split the assessment on the basis of a subdivision into 2 smaller units.

Money Laundering Regulations
In accordance with Anti –Money Laundering Regulations, the Purchaser/Tenant will be required to provide 2 forms of identification together with confirmation of the source of funding.

Disclaimer
None of the equipment or systems within the premises have been tested by the Agent and it is the responsibility of the Purchaser/Lessee to ensure that they are in working order.

Ref
C3572

EPC

Energy Rating D