Description LOCATION The subject property is situated on Stanhope Road in South Shields. Stanhope Road is a thriving commercial street offering a wide variety of local businesses including retail shops, café and restaurants. The property is situated near the A1298, a key arterial road that provides easy access to South Shields Town Centre to the North as well as broader connections to surrounding areas. Tyne Dock Metro Station is within walking distance from the property and provides direct links to South Shields and the wider South Tyneside area. DESCRIPTION The subject property is a two storey mid terraced of traditional construction with shop window frontage, front sales area, rear rooms and first floor accommodation. The property is surrounded by similar units in a prominent position overlooking Stanhope Road, an adopted highway. The property would be suited to a variety of retail uses. ACCOMMODATION Ground Floor Retail – 69.2m2 (745 ft2). First Floor Apartment – 38.3m2 (412 ft2). Total NIA – 107.5m2 (1,157 ft2). Tenure Freehold Title Name Rent PCM Rent PA 525 Stanhope Road £260 £3,120 525a Stanhope Road £300 £3,600 Total £560 £6,720 Available by way Freehold Title at a Guide Price of £78,000 (Seventy Eight Thousand Pounds). This equates to a net initial yield of 8.44% RATING ASSESSMENT The rateable value of the premises as at 1 April 2023 is £5,100 and the estimated rates payable for the current year is £2,499. This 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. EPC RATING 525 Stanhope Road- D86 525a Stanhope Road- E42 VAT All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT. LEGAL COSTS Each party is responsible for their own legal costs. ANTI MONEY LAUNDERING REGULATION In accordance with Anti-Money Laundering Regulations the Purchaser/Tenant will be required to provide two forms of identification and proof of the source of income. CONTACT: Michael McGhin For all enquiries and viewing arrangements please contact the Sunderland Office. Tel: 0191 563 4242 Email: sunderland@bradleyhall.co.uk Show more