retail in NE33

Westoe Road, South Shields, Tyne and Wear, NE33 3PF

Starting Bid
£85,000
Current Bid £75,000
26 Bids
Time left:
Bid now

Online auction

Alternatively call 0191 580 1587 or email commercial@pattinson.co.uk

  • Two Floor A1 Retail Unit
  • Tenanted Investment
  • Let for £9,000 PA
  • NIA 85.57sqm (921sqft)
  • Very Popular Location
  • Freehold Title

retail in NE33

FOR SALE BY ONLINE AUCTION. Terms and conditions apply.

We are pleased to offer to auction this tenanted A1 retail unit, excellently situated along the popular Westoe Road, South Shields. The unit comprises two floors (ground floor and basement) within a three floor brick-built building. The ground floor consists of main sales area, storage and kitchen, with further storage space to the basement. The property is tenanted for £9,000 per annum, offering a great investment opportunity.

Summary

  • Property Type: Retail
  • Tenure: Freehold
  • Parking: On Street

Location

The subject property is located within Westoe Road around quarter of a mile outside South Shields main town centre. Westoe Road is one of the primary routes into the town from the east and is made up of various commercial businesses and residential property.

Accommodation

GROUND FLOOR
Main sales area: 28.70sqm
Internal storage: 18.40sqm
Kitchen: 11.90sqm

BASEMENT
Storage one: 15.55sqm
Storage two: 11.02sqm

NIA 85.57sqm (921sqft)

Lease Details

The property is let for £9,000 per annum on a ten year lease with no breaks, with a rent review every three years (first rent review to be on 2nd August 2021), which commenced in August 2018.

Tenure

Freehold. Title number TY222454.

Rateable Value

The adopted rateable value is £4,850 as of 1st April 2017.
Sourced from VOA.

EPC

Availale upon request.

Additional Information

For further information please contact our office direct on 0191 737 1154, or alternatively via e-mail on commercial@pattinson.co.uk. With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.

EPC for retail in NE33

This property is being sold subject to conditional reservation fee auction terms and conditions.

Timescales
There are 28 days to exchange contracts and a further 28 days to complete the purchase. 56 days in total. Legal Pack A legal pack is available to download. Special conditions may apply. We strongly recommend buyers familiarise themselves with the legal pack prior to bidding. Buyer Fees This property is sold subject to a non-refundable reservation fee of 5% + VAT to a minimum of £5,000 + VAT (£6,000 inc VAT) This does not form part of the purchase price. A reservation fee is payable by the buyer where a seller has opted to sell with no fees. As a result, a lower reserve price is usually agreed on lots where a reservation fee is applicable. More Information For more information call our auction experts on 0191 206 9335 or email auction@pattinson.co.uk

ONLINE AUCTION NOTICE

I hereby acknowledge and confirm the following:  

My bid may be accepted by the seller at any time before the close of the auction.  It is subject to the terms and conditions of the auction which I have read and understood. I have read and understood the legal pack applicable to my bid/lot and agree to be bound by any special conditions within that pack. If my bid is successful (whether as the highest bid or upon acceptance by the seller in the course of the auction) I shall be bound by the lot terms and conditions as advertised online.  

At the point of registration, you will be required to insert credit or debit card details as a way of payment towards the deposit and or reservation fee. We will only hold a nominal amount (which will be stated at the point of bidding) to enable you to bid. This amount will only be debited from your account should you be the successful bidder, in the event you are unsuccessful the agreed amount will be released back to your card within three business days.  If you are the successful bidder we will debit the agreed amount from your account immediately at the close of the auction, we will then contact you to confirm the outstanding balance (if applicable) at which point you can opt to use the same card.  Any amount payable at the close of the auction must be paid within 1 hour.   

Please note that the bidding process will work in a different way to an eBay auction, so there is NO advantage to bidding at the last second. 

Each auction will automatically stay open until there has not been a bid for 10 minutes. After 10 minutes without a bid, the auction will close and the highest bidder will be successful subject to the reserve price being met or upon acceptance of an offer by the seller throughout the auction cycle. If there is another bid within 10 minutes of the last bid, the auction countdown timer will be restarted for another 10 minutes to allow further bidding. This system avoids last minute (or second) bidding and makes for a fairer auction as in a live room auction situation. 

Please bid in good time before the end of the auction, delaying your bid to the last seconds may disadvantage you if your connection slows or you lose internet connectivity. It is the bidder's responsibility to ensure the bid has been lodged with the auctioneer. The auctioneer accepts no responsibility for bids that are not received or are received late and reserves the right to reject any bid without notice. 

Minimum online bidding increments: 
Up to £50,000 - £250 minimum bid 
£50,001 to £150,000 - £500 minimum bid 
£150,001 to £250,000 - £1,000 minimum bid 
£250,001 to £1 million - £2,000 minimum bid 
£1 million+ -  £2,500 minimum bid 

Please note this bidding process applies specifically to online auctions. 

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