Park View Shopping Centre, Whitley Bay - Picture 2025-06-09-15-00-59
To Let

Marketed by

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Park View Shopping Centre Park View Shopping Centre, Whitley Bay, NE26 1DG

Use Class

Use Class

E

Rent pa

Rent pa

POA

Price

Price

£4,000,000

Market Sector

Market Sector

Shopping Centre

Key Features

  • 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.

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.

Disclamier

All the above information and descriptions (whether in the text, plans or photographs) are given in good faith but should not be relied upon as being a statement of representation or fact. Any areas, measurements or distances referred to are approximate only.

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