Description:

The premises are located on the first floor benefiting from independent access comprising 4 offices, staffroom and WC. The premises are in need of refurbishment and our clients would consider incentives in the form of either a rent free period or reduced rental in the first year.

Location:

Sea Road is a busy suburban shopping parade located on the northern bank of the river Wear serving an affluent and well populated residential suburb. The parade is represented by most national multiples including Barclays, Lloyds TSB, Coral and Mills amongst others.

Accommodation:

GROUND FLOOR
Entrance Lobby

FIRST FLOOR
4 Offices, Staffroom and WC’s
Net Internal Area 1111 ft2 (103.21 m2)
Ladies and Gents WC’s

EXTERNALLY
Our client may allocate 1 off street parking space to the side of the property

Leasehold:

£6,500 per annum

Rateable Value:

Following an enquiry on the Valuation Office website we have ascertained that the Rateable Value is £4,750. However this figure cannot be relied upon and if necessary a written request should be made to the Local Authority for confirmation. The Uniform Business Rate for the Rates Year 2010/2011 is 41.4p.

As a new occupier rights of appeal may exist against the assessment shown above. For further information please contact our Rating Department.

Value Added Tax:

Figures quoted exclude VAT where chargeable.

Lease Terms:

A new Lease is available at a commencing annual rental of £6,500 for a term of years to be agreed (minimum 3 years) on an effective FRI basis subject to 3 yearly Rent Reviews.

Code of Practice
The Landlord accepts the principles of the Code of Practice for Commercial Leases in England and Wales. Alternative lease terms are available upon request. A copy of the Code can be obtained from the Royal Institution of Chartered Surveyors, 12 Great George Street, Parliament Square. London, SW1P 3AD Tel: 0207 6951535, Fax: 0207 3343795 or alternatively from the website: www.commercialleasecodeew.co.uk.

Legal Costs:

The Tenant will be responsible for the Landlord’s Legal Fees incurred in the preparation, settling and completion of the Lease plus any VAT and Stamp Duty.

Viewing:

Strictly by appointment with this office.