Rent: £57,500 - £57,500
Region: Tyne and Wear
Town/City: Newcastle upon Tyne
LOCATION
Newcastle upon Tyne is the regional capital for the North East of England, and acts as the retail destination for the region. The subject premises are centrally located opposite the ongoing Newgate Development comprising of a fourstar hotel, student accommodation, and leisure space. The Gate, Grainger Market, and INTU Eldon Square shopping centre are close by.
The site is well connected with Newcastle Central Station and Metro services being less than a 5 minute walk, with Greggs, M.I.Dickson, McDonalds, CEX & Wilko’s all in close proximity.
ACCOMMODATION
The unit currently provides open ground floor trading space and ancillary basement storage, with the following approximate dimensions and floor areas:-
| Ground Floor Sales Area | 169 sq m | 1,821 sq ft |
| First Floor Ancillary | 48.7 sq m | 524 sq ft |
LEASE TERMS
The property is available by way of a new full repairing and insuring lease/leases for a term of years to be agreed subject to five yearly upward only rent reviews.
RENT
The property is available at a commencing rent of £57,500 per annum exclusive.
BUSINESS RATES
We are advised the property is currently assessed for rating purposes in as follows:-
| Rateable Value | £44,000 |
| Rates Payable 2019/2020 | £21,604 |
*Rates discount potential available
Interested parties should verify rates payable with the commercial rates department at the local authority.
ENERGY PERFORMANCE CERTIFICATE
An Energy Performance Certificate is available for inspection, the Rating is assessed as D100.
VAT
All figures quoted are exclusive of VAT where chargeable.
LEGAL COSTS
Each party will be responsible for their own legal costs incurred in connection with any transaction.
VIEWING/FURTHER INFORMATION
Strictly by prior appointment through:-
Pete Townsend
DD: 0191 280 4239
Email: pete@atretail.co.uk
Or
Ian Angus
DD: 0191 280 4235
Email: Email: iana@atretail.co.uk
Or through our joint agents Johnson Tucker.
Property type: Retail
Rateable value: £44,000
Planning use: A1
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