Available
Newcastle-Upon-Tyne – Post Office & Tattoo Studio
242 Shields Road, Newcastle-Upon-Tyne NE6 1DXFreehold Retail Investment
Price
£140,000
Rent P.A.
£11,928
Yield
8.52%
Tenure
Freehold
Lease Term
8 Years
Years Left on Lease
7y 11m
Area
1,250 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Each unit let until 2033/2034 with no breaks. Tattoo Studio tenant in occupation for 10+ years
- Comprises ground floor retail shop t/a Post Office and self-contained Tattoo Studio at first floor
- Situated on the South Side of Shield Road with occupiers nearby including Max Spielmann, Greggs, Iceland, Takeaway, Barber Shop, Public House, Bicycle Shop, Fitness and many more.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property comprises ground floor retail shop t/a Post Office (fitting out) and self-contained Tattoo Studio at first floor, accessed from the rear, providing the following accommodation and dimensions:
Ground Floor Shop: 58 sq m (625 sq ft)
Open plan retail, storage, wc
First Floor Tattoo Studio: 58 sq m (625 sq ft)
Reception, treatment rooms, kitchen, wc
Total NIA: 116 sq m (1,250 sq ft)
Ground Floor Shop: 58 sq m (625 sq ft)
Open plan retail, storage, wc
First Floor Tattoo Studio: 58 sq m (625 sq ft)
Reception, treatment rooms, kitchen, wc
Total NIA: 116 sq m (1,250 sq ft)
Tenancy Description
The ground floor shop is at present let to Interim Enterprises Management & Consultancy Services Ltd for a term of 8 Years from 1st August 2026 at a current rent of £7,500 p.a. and the lease contains full repairing and insuring covenants. Fixed rental increase to £8,000 p.a. on 01.08.30 until the remainder of the term. No breaks. Deposit held of £2,500.
The first floor studio is at present let to an Individual for a term of 9 Years from 1st July 2024 at a current rent of £4,428 p.a. and the lease contains full repairing and insuring covenants. Rent review every 3 years linked to RPI. No breaks. Lease renewal. Tenant in occupation for 10+ years.
The first floor studio is at present let to an Individual for a term of 9 Years from 1st July 2024 at a current rent of £4,428 p.a. and the lease contains full repairing and insuring covenants. Rent review every 3 years linked to RPI. No breaks. Lease renewal. Tenant in occupation for 10+ years.
Tenancies & Accommodation
Location Description
Byker is a suburb of Newcastle upon Tyne and is located approximately 2 miles east of the city centre. Byker is situated on the north side of the Tyne on the A193, with direct access to the A167(M). The A167(M) links with the A184 which provides access to the A1 north and south. The property is situated on the South Side of Shield Road with occupiers nearby including Max Spielmann, Greggs, Iceland, Takeaway, Barber Shop and many more.
