Rent: £Price on Application
SITUATION & DESCRIPTION
Morpeth is situated approximately 14 miles north of Newcastle upon Tyne and is Northumberland’s County Town and Administration Centre. The affluent Market Town is thriving and a popular commuter destination for the Tyneside Conurbation. Morpeth’s current population is over 14,000 but its catchment is not only considerable and draws from a wide largely rural hinterland but growing with significant new housing schemes ongoing throughout the Town and wider area.
The town has by and large resisted the trend for out of town retail development and its retail and leisure offer is almost entirely confined within the historical core.
The Town’s main retail focus is Sanderson Arcade one of the main entrances to which overlooks the opportunity. In between is the Town’s main car park (circa 222 spaces) which is currently free to use due to the Town’s disc parking scheme. Big box retailers including Next, M&S, New Look, Wm Morrison and Lidl are all situated in close proximity. The town hosts a range of multiple and independent retailers including upmarket brands and anchors such as Fat Face, Laura Ashley, White Stuff, Sea Salt, Mint Velvet, JoJo Maman-Bebe, Waterstones, Hobbs, Paperchase and others.
The town is also witnessing a growth as a leisure destination. New entrants include Pleased to Meet You, the Newcastle based bar/restaurant group, BarLuga, Lollo Rosso as well as several new local cafes and restaurants within the town centre core.
Following completion of the significant redevelopment and refurbishment works the premises will provide well-proportioned accommodation over two floors in accordance with the plans and images and following approximate areas:
|GROUND FLOOR||SQ M||SQ FT||COVERS|
|Front External Terrace||30||323|
|FIRST FLOOR||SQ M||SQ FT||COVERS|
|Front External Terrace||18||194|
The property will be handed over to a extremely high standard as indicated by the images. A full list of Landlord’s works is available but are to include lighting, bar area, entrance lobby, floor and ceiling finishes, kitchen extraction and WC facilities to both floors.
The premises are available on a new lease for a minimum term of 10 years on full repairing and insuring terms incorporating an upward only rent review based on open market value at the fifth anniversary.
Rental offers are invited at £60,000pa. No ingoing premium is sought.
The Rateable Value will be reassessed on completion of the Landlord’s Works. In the meantime all interested parties are advised to check with Northumberland County Council – Commercial Rates Department T: 0345 600 6400.
An Energy Performance Certificate has been commissioned and will be available for inspection – please ask for further information.
Internal inspections are strictly by appointment only. Please contact:
E: email@example.com T: 0191 280 4236
E: firstname.lastname@example.org T: 0191 280 4239
Property type: Leisure
Rateable value: £TBC
Planning use: A3
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