188 Ocean Road, South Shields

LOCATION
South Shields is a coastal town located approximately 4 miles South East of the Tyne Tunnel, 8 miles east of Newcastle upon Tyne and 9 miles North West of Sunderland. The town has a resident population of 75,300 persons widening to 150,000 persons in the South Tyneside district. The nearby development of the South Shields transport interchange makes the unit easily accessible. The Masterplan Vision for South Shields sets out a framework for the future of the Town Centre over the next 10 years.

DESCRIPTION
The subject property is a mid terrace hot food takeaway, very prominently located along Ocean Road, South Shields. The business is fully equipped and ready to start trading from the outset and consists of a serving area, kitchen, washroom and WC facilities.

ACCOMMODATION
Property NIA 46m2 (495 ft2).

BUSINESS DETAILS
The business is currently not trading due to owners’ personal circumstances. Fixtures & Fittings apart of sale.

LEASE DETAILS
Leasehold
By way of an Assignment of current 17-year lease term dated 17th July 2018 at a passing rent of £6,300 per annum.

Available by way of an Assignment of Lease at an Asking Price of £50,000 (Fifty Thousand Pounds).

RATING ASSESMENT
The rateable value of the premises as at 1 April 2023 is£4,950 and the estimated rates payable for the current year is £2,425. 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
Awaiting EPC

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