19 Frederick Street, South Shields NE33 5DY

FOR SALE BY LIVESTREAMED ONLINE AUCTION ON TUESDAY 15th JULY 2024.
For bidding registration, please visit auctionhouse.co.uk/northeast

SUBSTANTIAL FREEHOLD COMMERCIAL PREMISES WITH ESTABLISHED BUSINESS!

A rare opportunity to acquire a freehold commercial property in the heart of the redeveloping Laygate area of South Shields. This long-standing family butchers, established around 1865, spans four floors and is ideally positioned close to local amenities and modern housing developments.

The premises benefit from on-street parking and currently generate average weekly takings of £3,000–£3,500. Offered as a turnkey business with all fixtures and fittings included, the property also presents strong potential for redevelopment or conversion to a mixed-use property, SSTP.

The ground floor includes a front retail area and a rear preparation room with stainless steel sinks, a wash basin, and gas water heater, leading to a small office and stairs to the lower ground floor. This lower level offers front and rear storage, a separate W.C., and a built-in freezer. Upstairs, the first floor comprises several rooms with period features, including fireplaces and alcove storage. A half landing provides a W.C. with electric water heater, and the attic room offers additional storage space. Externally, there is a private rear yard.

Held freehold, the property benefits from a re-slated roof and a burglar alarm system. This is an excellent opportunity for owner-occupiers, investors, or developers seeking a well-located site with income and development potential.

On the day of the auction, you must be in a position to legally exchange contracts at the fall of the gavel. Payment of a 10% deposit (£5,000 min, unless stated otherwise within the legal pack) will be required, alongside any additional fees as outlined in the Special Conditions of Sale. The completion deadline can also be found within the legal pack.

You must be registered to bid. Please note that previous purchases, interest or registration are not valid for a forthcoming auction.

A pre-authorisation of £6,200 is required to bid within the auction. This is a temporary hold on funds within your bank account which will be released after the auction if you are not the successful bidder. Please note it can take up to 7-10 business days (sometimes longer) for the funds to be made available within your account, subject to your bank’s processes.

For any questions or further assistance registering to bid, please contact us.

Tenure: See Legal Pack

Administration Fee: £3600 inc VAT payable on exchange of contracts.

Disbursements: Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.