Location
The property is located in the centre of Jackson Street which is in the heart of the town centre and links High Street with West Street. Gateshead is currently enjoying significant investment and the Council are committed to improving the central areas around the High Street and have been acquiring land and property with a long term view to regeneration.
Jackson Street is a busy bus route and one of the main routes through the town with a number of well-known occupiers including Subway, Bright House, Specsavers and the Post Office.
Business
The premises are currently used as a cards and gift shop but would be suitable for other uses, subject to any required consents.
There are strong levels of potential captive trade from the shoppers and workers but the busy road and bus stops also generate a certain level of passing trade.
Viewing is recommended to fully appreciate the central location and potential.
Premises
Comprises a retail unit within a larger property;
Ground Floor
Retail Area circa 900 sq.ft. (84 sq.m.)
W.C.
Terms
The premises are available by way of a new FRI lease at an asking rent of £13,500 per annum with a 3 yearly rent review pattern. Full terms to be agreed.
EPC
Rating C.
Planning
We understand the premises currently have planning permission for use as A1 (Retail) under the Town & Country Planning (Use Classes) order 1987 (as amended). Effective Class E.
Business Rates
The premises are assessed as follows:
Description: Shops and premises
Rateable Value (2023): £8,800
Rates free incentives subject to status.
Money Laundering Regulations
In accordance with the current Anti-Money Laundering Regulations the Purchaser or Tenant will be required to provide two forms of identification and proof of the source of income.
