Front Street, Tynemouth

A rare opportunity to purchase this key ground floor retail property in the heart of Tynemouth. The property occupies a central position on the north side of Front Street within one of the most desirable locations in the north east. Currently the ground floor retail unit trades as a specialist wine merchants by the current owners and is licenced to sell alcohol on and off the premises. Outside seating is permitted to the front. To the rear is a brick built coach house and a section of courtyard is allocated.

A rare opportunity to purchase this key ground floor retail property in the heart of, Tynemouth. The property occupies a central position on the north side of Front Street within one of the most desirable locations in the north east. Currently the ground floor retail unit trades as a specialist wine merchants run by the current owners and is licenced to sell alcohol on the premises. Outside seating is permitted to the front and there is a section of courtyard at the rear . Beyond the courtyard there is a brick built coach house that is currently used for storage. Viewings are to be arranged by appointment through our office.

Material Information - EPC rating C.
Property is mid-terraced ground floor retail premises.
Property is of traditional brick wall construction with a slate roof.
Property is connected to all mains services.
Water supply is metered.
Standard, superfast and ultrafast broadband available.
Good mobile coverage.
Permit parking available on street front and rear.
No disabled parking.
Asking price: £450,000
Tenure Freehold.

Location - The property occupies a central position on the north side of Front Street within one of the most desirable locations in the north east. Tynemouth is a highly popular residential and tourist village located on the north east coast of England approximately nine miles east of Newcastle upon Tyne. The area offers many aspects of modern living and a variety of leisure activities centred around Front Street, Tynemouth Priory and of course the local beaches.

Description - The property is a ground floor retail unit with traditional shop window frontage that has an operating licence to sell alcohol on and off the premises. The property offers an excellent retail space suitable for a variety of uses. There is pavement seating allocation to the front of the property. To the rear, the property will be allocated a section of the courtyard, the rear coach house store and a small service yard beyond providing access onto Stephenson Street . The property will be sold with vacant possession.

The property is currently on one title to include the residential accommodation above. The properties will be split on completion of sale by creating a new leasehold title for the residential accommodation. The retail accommodation will retain the freehold title subject to the long leasehold title created for the upper floors. The services have been separated. A portion of the rear external allocation will be retained by the residential element effectively running along the eastern boundary of the site.

Retail Accommodation - The retail premises has a traditional shop front window and a converted basement, the accommodation offers;
Main sales area 29.7 sqm
Basement 8.6 sqm
Basement store 4.1 sqm
Rear sales area 15 sqm
Kitchen/store 9.6 sqm
W.C

Total floor area 67 sqm (721 sqft)

External - The property has the benefit of licenced pavement seating permitted at the front overlooking front street.

To the rear, the property will be allocated a section of the rear courtyard between the rear offshoot of the retail premises and the coach house. This section runs along the western boundary and is a licenced area. The property is also allocated the coach house storage building and a portion of the service yard area leading directly to Stephenson Street.

A portion of the rear external allocation will be retained by the residential element effectively running along the eastern boundary of the site.

Coach House - A two-storey brick building with slate covered pitch roof located to the rear of the site with power, lighting and security provision.

Further Information - We understand that all mains services are connected to the property. (All interested parties should satisfy themselves with the local service providers).

According to the Valuation Office Agency (VOA) website and the premises has a Rateable Value of £11,750

The EPC rating for the property is C (63), A full copy of the Energy Performance Certificate (EPC) report is available upon request.

In accordance with the Anti-Money Laundering Regulations the Purchaser will be required to provide two forms of identification and proof of the source of income.

Viewings are by appointment only through RA Jackson & Son LLP