Park View Shopping Centre, Whitley Bay, NE26 1DG
Availability
For Sale
Price
£4,000,000
Description
• Park View Shopping Centre offers a rare opportunity to acquire a dominant town centre investment in Whitley Bay, one of the North East’s fastest-rising lifestyle destinations. • Park View Shopping centre was developed in 2004 and provides 45,101 sq ft (4,190 sq m) of retail and leisure accommodation. • Key anchor tenants include Sainsbury’s, Iceland, Peacocks, Superdrug, Home Bargains and Boots.
Location
• Whitley Bay is a major suburb and popular commuter destination to Newcastle. • Whitley Bay is situated approximately 10 miles (16 km) north east of Newcastle Upon Tyne, and is connected via the Tyne & Wear Metro, as well as key arterial roads. • Whitley Bay benefits from affordable housing, picturesque setting, thriving independent businesses and vibrant community. • Total catchment population within 20 minutes’ drive time of 345,000, with 65% of the 10 minute drive time catchment comprising social groups AB/C1. • Inward investment into the public realm and seafront redevelopment under North Tyneside’s Regeneration Programme, helping drive tourism to c.6 million visitors each year.
Key Points
- Current gross income of £638,890 per annum.
- WAULT to expiry of 2.18 years and 1.25 to breaks.
- Positive asset management opportunities to be explored.
- We have been instructed to seek offers of £4,000,000 (Four Million Pounds) subject to contract and exclusive of VAT.
- This reflects a Net Initial Yield of 10.66%, allowing for usual purchasers costs representing a capital value of just £88 psf.
dkeith@eyco.co.uk 
0131 558 5144 
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