South Parade, Whitley Bay

Location - Whitley Bay is a popular seaside commuter town situated approximately 10 miles east of Newcastle City Centre. The property is positioned on South Parade within close proximity of the Seafront. The property forms part of a mixed residential / commercial area including a number of licensed premises and Restaurants.

Description - The property is currently used as a Nightclub although has significant potential for alternative uses or residential conversion, subject to receipt of planning permission.

Currently Let until October 2026 at a passing rent of £25,000 per annum inclusive of VAT.

Floor Area - The property extends to a Gross Internal Floor Area (GIA) of 915 sqm (9857 sqft)

Rating Liability - The property is currently assessed for Business Rates at a Rateable Value of £29,000.

Planning - The property has planning permission for its current use as a Nightclub and Licensed Premises.
Interested parties are invited to engage with the relevant local authority regarding alternative uses and / or residential conversion.

Tenure - We understand that the site is freehold with no onerous or restrictive covenants.

Price - Our Client is seeking offers over £325,000 for the freehold interest

Legal Costs - Each party will be responsible for their costs in the transaction.

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

Vat - All prices quoted are exclusive of VAT at the prevailing rate

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

Property Redress Scheme - R A Jackson & Son LLP are part of The Property Ombudsman. Membership number T01923.

Client Monies Protection Scheme - R A Jackson & Son LLP is a proud member of the RICS. The RICS Client Money Protection for Residential Agents scheme has been approved by Government under the The Client Money Protection Schemes for Property Agents (Approval and Designation of Schemes) Regulations 2018. This means that RICS registered firms holding money in the areas covered by the regulations, will have met the requirements under The Client Money Protection Scheme for Property Agents Regulations (2018) to belong to an approved scheme. Further information