NORTH EAST COMMERCIAL AGENTS & PROPERTY CONSULTANTS
CALL: 0191 229 9517 EMAIL: james.pain@frewpain.co.uk
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GROUND FLOOR RETAIL INVESTMENT FOR SALE
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CENTRAL TOWN CENTRE POSITION ON CORNER OF WHITLEY ROAD AND SOUTH PARADE
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SIX SEPARATE TENANCIES REDUCING RISK & OFFERING ASSET MANAGEMENT
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CURRENTLY FULLY LET GENERATING TOTAL RENTAL INCOME OF £47,610 PER ANNUM
UNITS 230-234 WHITLEY ROAD/SOUTH PARADE, WHITLEY BAY, TYNE & WEAR, NE26 2TA
LOCATION
The subject property is located centrally within the main retailing area of Whitley Bay on the corner of Whitley Road and South Parade. Neighbouring occupiers include a combination of national and local leisure and retail users including JD Wetherspoons, Fitzgeralds, B&M Bargains, Wrights Furnishers, Lloyds TSB, Santander, Greggs, Carphone Warehouse and Subway.
Exact location is shown on the attached plan.
DESCRIPTION
The property comprises selection of ground floor retail units with frontages to Whitley Road and South Parade and office accommodation to the first floor.
The building is an impressive and imposing Victorian traditional brick construction with decorative Dutch gables with rounded corner turret to the corner of Whitley Road and South Parade with leaded dome.
The property offers servicing facilities to the rear with a selection of outbuildings.
ACCOMMODATION
See PDF for full details.
SERVICES
It is understood the site and premises benefit from all mains services.
(All interested parties should satisfy themselves with the local service providers to ensure that the services are operational).
TENANCY SCHEDULE
See attached PDF for full tenancy details.
TENURE
Freehold with the benefit of the leases as outlined in the tenancy schedule attached to the PDF.
ENERGY PERFORMANCE CERTIFICATE
Full details upon request.
PRICE
Our client is seeking freehold offers in the region of £500,000 (Subject to Contact), for the benefit of the property, tenants and rental income.
SERVICE CHARGE
A service charge will be payable for the maintenance of common areas - full details upon request.
COSTS
The purchaser will be responsible for the Vendors reasonable legal costs in connection with any transaction.
VAT
All prices quoted are exclusive of VAT at the prevailing rate.
ALL ENQUIRIES
