GatesheadGibside Way Location

The premises are located in an extremely prominent position within the vicinity of the Metro Centre and Metro Retail Park providing one of the busiest retail destinations within the Tyneside region. The premises are located fronting Gibside Way adjacent to Snow and Rock and Aldi with the remaining part of the premises being occupied by Greggs. As you will see from the overhead photograph the premises has a substantial foodstore located immediately opposite with Metro Retail Park housing many multiple retail occupiers.

Description

The premises provide a single storey retail showroom with excellent glazed elevations to Gibside Way and benefiting from onsite parking and servicing. The premises are of brick construction with a pitched tiled roof and internally subdivided to provide sales and staff/storage areas with integrated wc’s

Floor areas/Dimensions

I am advised that the premises provide a gross internal area of 3,000 sq.ft in a configuration as identified on the attached plan.

Terms

The premises are held by way of an effective full repairing lease for a term of 10 years from the 23rd July 2007 at a current passing rent of £72,000 per annum exclusive. The next rent review is due on 23rd July 2012.

Incentives

My clients are willing to offer incentives to a suitable assignee however we would point out that the unit is extremely well fitted out, allowing an ingoing tenant immediate occupation for very little expenditure.

Planning

The premises receive the benefit of an open A1 non-food retail consent.

Rent

£72,000 per annum exclusive of rates, service charge and VAT (if applicable).

Rateable value

Please enquire with the Local Rating Authority at Gateshead Council on 0191 433 4726 but we understand that the premises has been assessed for rates as follows:-
Rateable Value 2010/2011: £66,500
Rates Payable 2010/2011: £27,531

Legal costs

Each party to bear their own legal costs in respect of all legal documentation produced in this transaction.

Further information/viewing

Please note staff are unaware of this proposed disposal and as such all viewing arrangements and requests for further information should be made via Ian Gill (ian@mowbraygill.co.uk) on 01244 409555 or our joint agent Ian Angus (ian@gdanet.co.uk) of Glen-Davison Angus on 0191 261 1666.

Brochure

View Brochure (PDF 2.13Mb)

Contact

Ian Gill – ian@mowbraygill.co.uk