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Newcastle upon Tyne, 42 – 50 Grey Street
Newcastle upon Tyne, 42 – 50 Grey Street
Newcastle upon Tyne, 42 – 50 Grey Street

Rent: £75,000 - £75,000

Region: Tyne and Wear

Town/City: Newcastle upon Tyne


Newcastle has one of the Country’s most vibrant Leisure economies and Grey Street is the most sought after address with nearby operators including Browns Bar and Brasserie, Zizzi, BarLuga, Las Iguanas and Carluccio’s withother attractions including the Theatre Royal and Everyman Cinema.  The subject premises which are arranged mainly at basement level are centrally located on Grey Street and have a 4m wide ground floor entrance adjacent to Zizzi with the benefit of on-street car parking immediately to the front.

 

ACCOMMODATION
The accommodation is arranged mainly at Basement level and offers the following Gross Internal Areas:

Ground Floor (incl lift and stair) 155 sq ft 14.4 sq m
Basement NIA (Source VOA) 3,412 sq ft 317 sq m
GIA 3,641 sq ft 338.2 sq m

LEASE TERMS
The premises are held by way of an effective FRI lease for a term expiring 3rd June 2026 at a current rent of £75,000pa excl subject to a final rent review in June 2021. Alternatively, a shorter term sub-lease at a lower rent is potentially available on terms to be agreed.

 

INCENTIVE
A rent free period is available to the ingoing tenant subject to status.

 

RATING ASSESSMENT
We are verbally advised that the premises are assessed as follows:

Rateable Value £79,000
Rates Payable April 2019/20 £38,947

Interested parties are advised to seek verification of the above from the local rates authority.

 

LEGAL COSTS
Each party to be responsible for their own legal costs incurred in connection with any transaction.

 

ENERGY PERFORMANCE CERTIFICATE
The premises have been assessed within band E.  A copy of the Certificate is available from this office.

 

VIEWING
Strictly by appointment with @retail:
Ian Angus
0191 280 4235
iana@atretail.co.uk
Or alternatively through our joint agent:
John Brady
0161 839 1231

Property type: Leisure, Retail

Rateable value: £79,000

Planning use: A3

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