Whitley Road, Whitley Bay

Location And Situation - The property is located in the centre of Whitley Bay which is a coastal town lying approximately 9 miles to the east of Newcastle city centre. The local road network connects to the A19 (Trunk Road) and A1058 (Coast Road) which provide good vehicular access to other parts of the Tyneside conurbation. The location provides residents and businesses with a broad range of local facilities and amenities which include Whitley Bay Metro Station that provides good public transport connections to Newcastle city centre and other parts of the region. The property is positioned on the east side of Whitley Road between the junctions of North Parade and Esplanade. This is a secondary retail area where occupiers cater for mainly local requirements as well as a degree of passing trade. Nearby occupiers include charity shops, licensed premises and hot food takeaways.

Description - The property comprises a three floor mid-terraced building of traditional construction thought to have been built in approximately 1900. Internally the property provides cellular accommodation to all floors. The ground floor is predominantly the main retail space with complimentary staff facilities. There are storage, kitchen and toilet facilities on the first floor together with additional stores extending into the second floor. The first and second floors are separate to the ground floor and do not appear to have been occupied for a number of years other than for records storage. The upper floors are in basic condition requiring significant updating. There is a yard to the rear.

Occupancy - The property was occupied at the date of our inspection by Boots Opticians, a national retailer at a rent of £9187.50 per annum for the entire property subject to a commercial lease for five years expiring 31 March 2030.

Accomodation -

Ground Floor - 53.1sqm (571sqft)

First Floor - 49.4sqm (531sqft)

Second Floor - 37.4sqm (402.5sqft)

Total Internal Area - 140 sqm (1506.9sqft).

Tenure - Freehold.

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

Price - Our Client is seeking £135,000 + VAT.

Rating Liability - According to the Valuation Office Agency (VOA) website and the premises has a Rateable Value of:-

190 Whitley Road - £7,600 per annum
192 Whitley Road - £4,250 per annum

Vat - VAT is applicable on this property.

Money Laundering Regulations - 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.

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

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