238-242B Shields Rd 4,723 SF 100% Leased Retail Building Newcastle Upon Tyne NE6 1DX $189,676 ($40.16/SF) 8.52% Cap Rate

Investment Consideration:
Gross Initial Yield: 8.52%
Rental Income: £11,928 p.a.
VAT is NOT applicable to this property
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.
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)
Tenancy:
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.
Location:
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.