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Newcastle upon Tyne, 105 – 109 Grainger Street

Rent: £99,000 - £99,000

Sale price: £1,500,000

Region: Tyne and Wear

Town/City: Newcastle upon Tyne


LOCATION
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.

 

ACCOMMODATION
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

LEASE TERMS
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.

 

FREEHOLD SALE
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.

 

RATEABLE VALUE
We are verbally advised that the premises are assessed as follows:-

£129,000
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.

 

LEGAL COSTS
Each party will bear their respective legal costs incurred in connection with the transaction.

 

VAT
All figures quoted in these terms are exclusive of VAT where chargeable.

 

VIEWING
By prior appointment through @retail:-
Ian Angus
DD: 0191 2804235
Mob: 07960 466211
Email: iana@atretail.co.uk

Property type: Retail

Rateable value: £129,000

Planning use: A1

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