Freehold, Kidsgrove, ST7

LOCATION

The property has approximately 35 feet frontage to King Street and is located in the centre of an established retail parade opposite public car parking and close to a number of large retailers including; Aldi, Tesco and Home Bargains.

DESCRIPTION

A substantial three storey retail premises with 1st and 2nd floor storage accommodation, forming part of an established parade of retail units in the centre of Kidsgrove and opposite a large public car park. The ground floor sales area extends to 2,710 sq.ft. and could easily be extended to 3,274 sq. ft. with the removal of the non-structural partitions. At 1st and 2nd floor level are a number of large rooms currently used for storage and now having the benefit of planning permission to be converted into 4 x one-bedroom and 3 x two-bedroom flats. Planning permission is also in place to split the ground floor into two self-contained shops, each of which will have a GIA of approx. 1,600 sq.ft.

ACCOMMODATION

Ground Floor

Sales Area 2,710 sq.ft.

Stores 564 sq.ft.

*Note: The stores are created by non-structural partitioning which could be removed to create 3,274 sq.ft. of sales*

First Floor

Stores 1087 sq.ft.

WC’s-

Second Floor

Stores1,270 sq.ft.

Total NIA5,631 sq.ft.

SERVICES

All mains services are connected. There is a conveyor between the ground and 1st floor store. No services have been tested by the agents.

TERMS

Available freehold, subject to contract and with vacant possession upon completion. Alternatively, available by way of a new full repairing and insuring lease for a term of years to be agreed, subject to rent reviews every three years and with the ongoing tenant being responsible for landlords reasonable fees.

OUTGOINGS

BUSINESS RATES

Rateable Value:£22,000

Rates Payable:£10,252 p.a. (18/19)

VAT

The rental/purchase price is not subject to VAT.

PLANNING

Full planning was granted on the 20th December (16/008888/FUL) for the ground (rear), first and second floors to provide 4 one-bedroom flats and 3 two-bedroom flats, giving a total of 7 flats and split the retail unit into two self-contained shops.

LOCAL AUTHORITY:

Newcastle Borough Council

OTHER

EPC

Band E – Asset Rating 110

PRICE/RENTAL

The freehold is available at £299,950.

The ground floor only is available to let at £20,000 PAX.