2 -3 Market Place South Shields Tyne and Wear NE33 1BH

  • 2 -3 Market Place<br>South Shields<br>Tyne and Wear<br>NE33 1BH

2 -3 Market Place
South Shields
Tyne and Wear
NE33 1BH

Retail Investment

  • Two adjoining ground floor shops
  • Busy town centre location adjacent to South Shields Open Market
  • Prominent corner position some 250 metres from South Shields Metro Station
  • Occupational Leases Outside the Security of Tenure Provisions of the Landlord and Tenant Act 1954
  • Nearby occupiers include Lloyds Bank, Heron Foods, Subway, Poundland and Bonnemarche
  • Lot
    42
  • Auction
    9th May 2024
  • Rent
    £26,167 per Annum
  • Status
    Sold Prior
  • Price
     
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Update
  • Expand
  • Photos
  • Map

Retail Investment

  • Two adjoining ground floor shops
  • Busy town centre location adjacent to South Shields Open Market
  • Prominent corner position some 250 metres from South Shields Metro Station
  • Occupational Leases Outside the Security of Tenure Provisions of the Landlord and Tenant Act 1954
  • Nearby occupiers include Lloyds Bank, Heron Foods, Subway, Poundland and Bonnemarche
  • Lot 42
  • Auction 9th May 2024
  • Rent £26,167 per Annum
  • Status Sold Prior
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction

Property Information

Location
Miles
11 miles east of Newcastle and Gateshead, 8 miles north of Sunderland
Roads
A194(M), A19
Rail
South Shields Metro Station (direct link to Gateshead, Sunderland, Newcastle and Newcastle Airport)
Air
Newcastle International Airport
Situation

The property is situated in a prominent corner location at the junction of Chapter Row and Market Place adjacent to South Shields Open Market and some 30 metres from King Street, South Shields' prime pedestrianised retail thoroughfare. Nearby occupiers include Lloyds Bank, Heron Foods, Subway, Poundland and Bonnemarche.

Tenure

Long Leasehold. Held for a term of 126 years from 04/12/2014 expiring 30th August 2137 at a current ground rent of £200 per annum.

Location
Miles
11 miles east of Newcastle and Gateshead, 8 miles north of Sunderland
Roads
A194(M), A19
Rail
South Shields Metro Station (direct link to Gateshead, Sunderland, Newcastle and Newcastle Airport)
Air
Newcastle International Airport
Situation

The property is situated in a prominent corner location at the junction of Chapter Row and Market Place adjacent to South Shields Open Market and some 30 metres from King Street, South Shields' prime pedestrianised retail thoroughfare. Nearby occupiers include Lloyds Bank, Heron Foods, Subway, Poundland and Bonnemarche.

Tenure

Long Leasehold. Held for a term of 126 years from 04/12/2014 expiring 30th August 2137 at a current ground rent of £200 per annum.

Description

The property comprises two adjoining ground floor shops.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises two adjoining ground floor shops.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas
Approx sq m
Floor Areas
Approx sq ft
Tenant Term Rent p.a.x.
2 Market Place
Ground
Retail
106.20
(1,143)
INDIVIDUAL
t/a Knit n Purl
A term of years expiring 17/04/2026
£14,167
3 Market Place
Ground
Retail
69.96
(753)
INDIVIDUAL
t/a Michaels Cafe
A term of years expiring 11/06/2028
£12,000
Total  
175.89
(1,896)
(1)
   
£26,167

(1) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk).

If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Property Documents

  • Brochure
    Updated Date
    17.05.24
    File Size
    3 MB
    View PDF
  • Common Auction conditions
    Updated Date
    20.05.24
    File Size
    620 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Jon SkerryJon Skerry +44 (0)20 7034 4863 +44 (0)7736 300 594jon.skerry@acuitus.co.uk
Alexander AuteracAlexander Auterac +44 (0)20 7034 4859 +44 (0)7713 135 034alexander.auterac@acuitus.co.uk
Seller's Solicitors
Addleshaw Goddard LLP Exchange Tower 19 Canning Street
Edinburgh
EH3 8EH
Juliette Fisher +44 (0)131 222 9596Juliette.Fisher@addleshawgoddard.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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