Region: Tyne and Wear
Set within a mature landscape and ideally located immediately adjacent to the A1 and just minutes from Newcastle Airport and City Centre, Team Valley is the north east’s premier business park. Team Valley is a thriving community and home to over 700 businesses employing over 20,000 people from the skilled manual and service trades to high end manufacturing and professional services embracing world leading research and development. In addition to the significant workforce employed on the business park are a significant amount of retail and leisure operators who typically cater for the workforce or position their business in the area due to its excellent accessibility to all areas in the Tyne and Wear region. For example RETAIL
WORLD TEAM VALLEY at the south of the Park comprises 380,417 sq ft and primarily consists of fashion, lifestyle and food stores including Gap, Hobbycraft, M&S Simply Food, O2, Boots and Tapi to name a few. The retail park is one of the twenty largest retail parks in the UK, boasting over 1,300 car park spaces. MAINGATE at the north of the Park provides a well-established mixed use development providing 12 retail units, 55,000 of Grade A offices, a 115 bed Premier Inn hotel and a 20,000 sq ft Gym. Current retail occupiers at Maingate include Chisholm Bookmakers, Finlays Newsagents, O’Brien’s Coffee Shop and Sandwich Bar, Greggs, The Lighting Centre and Bathstore.com.
ENTERPRISE HOUSE is situated in a central location overlooking the roundabout connecting Kingsway North and Kingsway South and as such is extremely accessible from directions north and south as well the various roads to the east and west. Adjacent to the subject premises is an established small retail parade with dedicated parking housing a variety of tenants including
bookmakers, Papa John Pizza, Lloyds Bank and a variety of local tenants.
Work is underway to convert former office accommodation to provide up to 7 ground floor retail units and refurbished high quality first floor office accommodation. New individual office entrances to be created at the rear of the parade to serve the first floor. Planning consent has been obtained to provide the ground floor units to a standard developers shell specification to include new shop fronts. Car parking to the front dedicated to the retail units will provide circa 20 number spaces.
Upon completion of works each unit will provide between 84 sq m (900 sq ft) and 85 sq m (910 sq ft) of gross sales and storage. Units are capable of amalgamation to provide up to 168 sq m (1820 sq ft). It may be possible to amalgamate ground and first floor accommodation for specific uses. Further details upon request.
Permitted Use Classes include A1 (Shops), A2 (Financial & Professional Service), A3 (Restaurants & Cafes. Hot Food (A5) are specifically not permitted. Further details available upon request.
Each unit is offered by way of a new effectively full repairing and insuring lease for a term to be agreed, subject to five yearly upward only rent reviews.
Rental offers based on rents of £25 psf are invited.
A service charge will be levied to allow for common repairs and maintenance as well as a separate insurance charge. Further details will be provided upon request.
The premises will be assessed following completion of considerable refurbishment works.
All figures quoted in these terms are exclusive of VAT where chargeable.
Each unit will need to be formally reassessed for rating purposes following occupation by the Tenant. Interested parties are advised to make their own enquires of the Local Rating Authority for further information.
Each party will bear their respective legal costs incurred in connection with the transaction.
Strictly by prior appointment through @retail:
T: 0191 2804239
M: 07713 151970
T: 0191 2804235
M: 07960 466211
All enquiries relating to the OFFICE ACCOMMODATION should be
directed to Knight Frank:-
PATRICK MATHESON – KNIGHT FRANK
T: 0191 221 2211
Property type: Retail
Rateable value: £TBC
Planning use: A1,A2,A3 & A5
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