Rent: £59,950 - £59,950
Region: Tyne and Wear
Town/City: Newcastle upon Tyne
This unique leisure opportunity is situated prominently on Percy Street adjacent to the main Newcastle University Campus, directly opposite the Haymarket Metro Station and within close proximity to both Northumberland Street and Eldon Square, the prime retail areas within Newcastle city centre, RVI Hospital, the Civic Centre, the City Hall, the Northern Stage, St James’ Park Football Stadium and the Great North Museum. This locality therefore benefits from substantial footfall throughout the day and evening. The subject leisure opportunity is situated within the ground floor and basement of a three storey Victorian building which is partly Grade II listed. The Bruce Building was significantly refurbished in 2015 and comprises of several offices and fifty-seven residential apartments which are occupied by students, young professionals and a range of corporate and leisure visitors.
We understand that the property comprises of the following approximate net internal floor areas:-
|Bar/Café||1,157 sq ft|
|Stores/Disabled WCs||89 sq ft|
|Basement Kitchen||336 sq ft|
|Basement Prep Area||319 sq ft|
|Storage/Staff/WCs||352 sq ft|
|TOTAL||2,253 sq ft|
|Supply of Alcohol||Every Day 10.00-00.00|
|Playing of Films, Live and Recorded Music||Every Day 10.00-00.00|
|Late Night Refreshment||Every Day 23.00-00.00|
|Opening Hours||Every Day 07.00-00.30|
Full details of the licence and suppliers in place are available upon request.
The premises are available at an initial rent of £59,950 per annum. The unit is available by way of a new effectively full repairing and insuring lease for a term of 10 years, subject to an upwards only rent review in year 5.
Our client has fully fitted out the bar/café (with the exemption of the bar top,furniture, signage and window display) and they are looking for the benefit of this fit out to be rentalised over the
duration of the lease, further details are available upon request. A full schedule of the fit out/equipment/specifications is available upon request.
The business rates will need to be reassessed upon occupation or practical completion of the proposed refurbishment works. We would therefore recommend that any interested party make their own investigations with regard to this matter and the likely estimated rates liability for the proposed use of the leisure unit by contacting the Local Rating Authority (Newcastle City Council).
The Energy Performance Certificateis available upon request.
Strictly by prior appointment through;
T: 07949 938 210
or joint agent;
T: 0191 211 3969
Property type: Leisure
Rateable value: £TBC
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