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Investment Highlights
- Prominent Freehold Parade Investment.
- Lapsed consent to convert the first floor into 6 flats.
- Comprising 10 shops with self-contained uppers.
- VAT is not applicable.
- Arranged over 7,321 sq ft.
- Current Rents Reserved £115,100 per annum (11.51% GIY Plus 3,036 sq ft vacant).
- Vacant upper floor maybe suitable redevelopment subject to all consents.
Executive Summary
The property is arranged over ground and first floors to provide 10 shops with self-contained upper parts across all shop to provide further trading accommodation. To the rear is an extensive service yard. 57-75 Park View occupies a prominent position in the heart of Whitley Bay, a popular coastal town situated approximately 10 miles northeast of Newcastle upon Tyne. Park View is one of the town’s principal retailing parades, benefitting from strong footfall and a mix of established national and local occupiers.The property is well-connected, with Whitley Bay Metro Station within easy walking distance, providing regular services across Tyneside, while the nearby A1058 Coast Road offers swift access to Newcastle city centre. The surrounding area has seen ongoing investment and regeneration, enhancing its appeal as a thriving retail and leisure destination close to the seafront.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold/Long Leasehold
Property Subtype
Shopfront
Property Size
1,268 sq ft
Costar Property Class
C
Year Built
1911
Price
£1,000,000
Price per sq ft
£788.64
Tenancy
Single
Number of Floors
1
Frontage
30 ft on Park View
Major Tenants
- Tenant
- Industry
- sq ft Occupied
- Rent/sq ft
- Lease End
- Letsafe
- Retailer
- 707 sq ft
- -
- -
| Tenant | Industry | sq ft Occupied | Rent/sq ft | Lease End | ||
| Letsafe | Retailer | 707 sq ft | - | - |
1 1
Nearby Major Retailers
1 of 5
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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Presented by
57 Park Vw
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