Retail Property (high street) to rent

Commercial information

• 2,071 sq ft (192 sq m)
• Use class orders: A1 Shops

Full description

LOCATION

The subject property occupies a prime location on the pedestrian section of Linthorpe Road. It is adjacent to H Samuel Jewellers and the Body Shop and directly opposite the entrance to The Hill Street Centre and Marks and Spencer. Debenhams, Next, House of Fraser and BHS are all close by.

DESCRIPTION

The property is constructed over three floors with ground floor retail, first floor stores / staff and uppers.

ACCOMMODATION

The accommodation provides the following approximate net internal areas and dimensions:

Gross Frontage 7.2 m (23'07")
Net Internal Width 6.5 m (21'03")
Shop & Built Depth 28.3 m (92'09")
Net Ground Floor Sales 192.4 m2 (2,071 sq ft)
First Floor Staff & Stores 74.7 m2 (804 sq ft)
Second Floor Stores 77.8 m2 (837 sq ft)

RATING ASSESSMENT

We understand that the unit is assessed under the 2010 revaluation at £64,000. The current Uniform Business Rate for 2016/17 is 0.493 pence in the £.

The draft Rating list from April 2017 has a listing of £31,750 RV subject to any feathering relief which may be applied.

Interested parties should verify the accuracy of this information and the rates payable with the Local Rating Authority.

LEASE TERMS

The unit is offered on a new 10 year fully repairing and insuring lease, subject to an upwards only rent review at the 5th anniversary of the lease. We are seeking rental offers of £28,000 per annum exclusive, subject to the overall terms of the lease.

LEGAL FEES

Each party is to be responsible for their own legal fees incurred with any transaction.

VAT

Any references to price, premium or rent are deemed to be exclusive of Value Added Tax unless expressly stated otherwise and any offer received will be deemed to be exclusive of VAT.

ENERGY PERFORMANCE CERTIFICATE

The Energy Performance Asset Rating is to be confirmed and will be made available for inspection.