|Energy Performance Rating||This property has been graded as C 73|
Substantial Convenience Store Investment. Let for 16.5 years with no breaks.
South Shields, with a population of approximately 83,000, is situated south of the River Tyne, some 11 miles east of Newcastle upon Tyne. Road communications are good, with the A1300 connecting to the A194 and hence the A1, whilst the Metro (light railway) provides frequent services to Newcastle city centre. The town centre is undergoing significant redevelopment with the £100m South Shields 365 project. This will provide a new retail, leisure and cinema development, a new transport interchange and improved public realm. The property is situated in a predominantly residential area on Dean Road, a busy local retail parade. Other occupiers include Ladbrokes, Stage Coach, public houses and numerous local occupiers. The store benefits from being surrounded by numerous local primary and secondary schools. The unit is within short walking distance of Chichester Metro Station and nearby The Port of Tyne.
- Prominently located convenience store
- Store benefits from a large public customer car park to rear
- The whole property is let for 16.5 years with no breaks to Martin McColl Limited
- Total current rents reserved £28,329 pa rising to £31,278 pa on 19th May 2025
- Fixed uplifts at 2% pa compounded throughout offering guaranteed rental growth
- Low passing rent of only £8.50 per sq ft
- Offers in excess of £435,000
- Net Initial Yield of 6.24%, with a Reversionary Yield of 6.89% in 2025
Viewing & Further Information
For further information, or if you would like to arrange a viewing, please contact our agents:
020 7478 9112
020 7478 9113