Rent: £99,000 - £99,000
Sale price: £1,500,000
Region: Tyne and Wear
Town/City: Newcastle upon Tyne
The premises comprise the ground floor and basement of an attractive Grade 2 Listed building and are centrally situated on Grainger Street within the city centre. Nearby retailers include TJ Hughes, Bon Marche, McDonalds, Start Fitness and the popular Grainger Market is located immediately to the rear as indicated on the attached Goad Extract.
The retail accommodation is arranged on ground and basement levels and offers the following approximate floor areas and dimensions:-
|Gross Frontage||64 ft||19.5 m|
|Internal Width||62 ft 8”||19 m|
|Ground Floor Sales||2,020 sq ft||187.7 sq m|
|Basement Storage||1,467 sq ft||136.3 sq m|
The premises are offered by way of a new Full Repairing and Insuring Lease for a term to be agreed at an initial rent of £99,000 per annum exclusive
subject to five yearly rent reviews.
The premises are available for sale with vacant possession of the ground floor and basement and subject to a long leasehold interest with circa 70 years unexpired at an annual rent of a peppercorn and at a price of £1,500,000 exclusive.
We are verbally advised that the premises are assessed as follows:-
|Rates Payable April 2018/19||£64,887|
Interested parties are advised to seek verification of the above from the Local Rating Authority.
ENERGY PERFORMANCE CERTIFICATE
An Energy Performance Certificate (EPC) is available upon request from this office.
Each party will bear their respective legal costs incurred in connection with the transaction.
All figures quoted in these terms are exclusive of VAT where chargeable.
By prior appointment through @retail:-
DD: 0191 2804235
Mob: 07960 466211
Property type: Retail
Rateable value: £129,000
Planning use: A1
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