Business description

? Investment Opportunity
? A5 & A1 Commercial Units
? Four Apartments
? River Views
? Approx 4,300 sq ft over 3 Floors
? Projected Income In excess of £50k
? Rare Opportunity

Property information

Property:

Freehold

Location:

The property is located on Union Quay which is the main road through North Shields Fish Quay. This is a popular tourist destination and is surrounded by a range of residential premises, restaurants and retail units. North Shields is approximately 9 miles East of Newcastle upon Tyne.

Premises details:

Our clients have advised that the premises are held by way of a 90 year peppercorn lease with approximately 80 years remaining. (This type of lease is deemed as virtual freehold). Prospective purchasers should seek legal confirmation via their solicitor of the tenure as we have not had written verification of this.

Vacant premises currently being refurbished which is due to be completed in March 2010. The building currently has planning permission for the conversion into two commercial units to the ground floor one having A5 (hot food) consent and the other having A1 (general retail). The first floor will have two 1 bedroom apartments, and to the second floor two 2 bedroom apartment which will be fitted to a high standard and will benefit from river views.

The property offers around 4,300 sq ft arranged over 3 floors. Our clients have indicated that they may sell the building prior to the conversion being complete at a reduced cost.

Other information

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