Retail premises to let in Park Lane, Gateshead NE8

Location

The two retail units are located in Gateshead where High Street meets Park Lane. Due to the properties convenient location, it benefits from easy access to the likes of Newcastle, and the surrounding area. Both the A167 and A184 are 0.1 miles away giving commuters easy access to the retail presence of Gateshead High Street.

Description

5 Park Lane is arranged over a ground floor, it has a decent sized area for retail use with a W/C facility to the rear. 7-11 Park Lane was formerly 3 separate units now combined to one, it is arranged over a ground and first floor which could be used as retail/office space. Both units have a prominent frontage looking onto Park Lane which sees a high amount of traffic.

Accommodation

We calculate the approximate net internal floor areas to be as follows:
5 Park Lane 45m² 484ft²
7-11 Park Lane 291m² 3,132ft²

EPC rating

Property EPC Rating
5 Park Lane 96 D
7-11 Park Lane 90 D

Rating assessment

The rateable value of 5 Park Lane on 1 April 2023 is £3,750 and the estimated rates payable for the current year is £1,871. The rateable value of 7-11 Park Lane on 1 April 2023 is £9,600 and the estimated rates payable for the current year is £4,790.

Both the above is based on the standard Small Business Rate of 49.9p in the pound, however, interested parties should confirm the current position with the Local Authority.

Terms

Rental terms are available on application.

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.

Viewing

For general enquiries and viewing arrangements please contact Bradley Hall.

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