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47-61 King Street, South Shields

  • South Shields is an important administrative centre and popular seaside resort
  • 100% prime retail location
  • Well secured with an excellent tenant profile including Boots, Sports Direct, New Look, JD Sports and Argos
  • WAULT of 8.4 years (6.6 years including break)
  • Rebased rents offering excellent future reversionary prospects
  • Total passing rent of £466,000 per annum

We are instructed to seek offers in excess of £6,300,000 (Six Million, Three Hundred Thousand Pounds) for the freehold interest, Subject to Contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 7.00%, assuming purchaser’s costs of 5.80%