42-47 Fish Quay, North Shields, Tyne and Wear, NE30 1JA

Location

The property is adjacent to Clifford Street which connects with Union Road, Union Quay leading to Bell Street. The area is a mixed use leisure, residential and commercial location in North Shields, 8 miles to the east of Newcastle upon Tyne.

The property is directly opposite the North Shields Fish Quay dating back to the 13th Century on the north bank of the River Tyne. The property is also adjacent to Clifford's Fort Scheduled Ancient Monument. Other buildings nearby include Dock Masters House, the Old Low Light Heritage Centre and the Barracks building occupied by Carney Consultancy.

Description

A unique two storey property with an attractive brick façade with feature walkway under a slate roof.

The ground floor is currently fitted out and occupied as small studio units by the tenants with the first floor in good decorative condition with superb protected views out to sea.

Tenure Comments

The property is owned by way of a lease dated the 11th October 2023 from North Tyneside Council for a term of 125 years. The permitted uses are Class E, F1 or F2 but the lease also provides for permitted future additional uses including café, restaurant or pub, subject to increased rental.

The current ground rent is £4,500 pa, subject to five yearly rent reviews based on RPI with a minimum uplift of 2% and a maximum uplift of 4%.