Prominent office building comes to the market in South Shields
August 2016
A prominent office building has been brought to the market in South Shields town centre.
Naylors Office Agency team has been appointed to sell South Tyneside House, which is located on Westoe Road adjacent to South Shields Town Hall.
The four-storey building, which offers over 18,000sqft of open plan office accommodation is being sold on behalf of the current owners, Seapoint Capital, a London-based investment company.
Naylors’ head of office agency, Simon Taylor says the property offers excellent development potential, he commented: “This is an excellent development opportunity for a potential alternative use such as residential, retail or leisure, however it would also make a fantastic office headquarters for an owner occupier. The steel portal frame construction and high level of glazing gives the building fantastic flexibility and a number of options for whoever buys it.”
The first floor of the property is currently let to Ingeus until March 2017 and together with two telephone masts on the roof the building currently produces an annual rental income of £55,000.
Simon added: “The central core of the building has recently been refurbished and offers toilets on each floor together with a passenger lift. The first floor office has been fully fitted out for the current tenant and incorporates raised access floor, suspended ceiling and comfort cooling. Given that it is a town centre building with good access to amenities and public transport we expect that there will be a high level of interest’
The building has been placed on the market with a guide price of £595,000. For further information contact Simon Taylor email: simontaylor@naylors.co.uk or T: 0191 211 1565.