The property comprises a mid-terraced retail premises of traditional construction, arranged over ground and first floors and surmounted by a flat felt roof. Internally, the ground floor provides a predominantly open plan retail sales area, together with associated changing facilities.
The first floor offers ancillary staff accommodation, including storage space and WC facilities. The premises benefit from air conditioning and present a practical and flexible layout. The property is currently occupied by the British Red Cross, making this a secure investment opportunity.
63–65 King Street occupies a prominent and highly accessible position in the heart of South Shields town centre, forming part of the town’s established retail pitch. King Street serves as the principal pedestrianised retail thoroughfare, benefitting from strong footfall and linking directly to Ocean Road and the wider town centre amenities. The property is well connected, with South Shields Metro Station located within a short walking distance, providing direct services to Newcastle upon Tyne and the wider Tyne & Wear region. Additionally, the area benefits from excellent road communications via the A194(M) and A19, offering convenient access to the Tyne Tunnel, Sunderland and the regional motorway network.
The immediate vicinity comprises a mix of national and independent occupiers, with nearby retailers including Boots, Greggs, Sports Direct, Savers and a range of local service providers, cafés, and convenience operators, contributing to a vibrant and diverse commercial environment. The property sits adjacent to a variety of established occupiers, reinforcing the strength of this location as a key retail and service destination within the town.
Offers in excess of £180,000 (One Hundred & Eighty Thousand Pounds) are invited for the benefit of our client’s freehold interest subject to contract, reflecting a Gross Initial Yield (GIY) of 10%.
Please note that our client reserves the right not to accept the highest or any offer received.
The British Red Cross is a well-established and highly reputable national charity, forming part of the global Red Cross and Red Crescent Movement. As a registered charity (No. 220949) it has a strong financial profile, with reported annual income in excess of £287 million for the year ending 31 December 2024, derived from a diverse range of funding sources including donations, charitable activities and government support. While the organisation does not hold a formal corporate credit rating, its scale, longstanding history and secure funding base underpin a robust covenant strength, making it a dependable tenant for investment purposes.
