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Newcastle upon Tyne, 54 Dean Street

Rent: £60,000 - £60,000

Region: Tyne and Wear

Town/City: Newcastle upon Tyne


LOCATION
Newcastle upon Tyne is the principal city in the north east of England and is located within the borough of Tyne & Wear. It has a local population of 295,000 and a greater Tyneside population of 880,000 persons (2017 Estimate). The unit is accessible & located within the city centre just off the Tyne Bridge, 400 meters from Monument Metro Station and close to the city’s key bus stops. Dean Street Multi Story car park is also a stone’s throw away providing 257 spaces and is free after 5pm as part of Newcastle’s “Alive After Five” scheme.
The property is located a 5 minute walk from Eldon Square Shopping Centre to the north, a 5 minute walk from Newcastle Quayside to the south, as well as just 5 minutes to Newcastle Central Station to the west.

 

SITUATION
The subject property is located on the junction of Grey Street, Dean Street, and Mosley Street and forms part of Churchill House. This puts it in the heart of Newcastle’s premier leisure circuit with nearby occupiers including but not limited to: Miller & Carter, Portofino, Longhorns, Brewdog, Pizza Express, Antler and Dacantus.

 

DESCRIPTION
The unit comprises of a former character basement restaurant of 3,522 sqft with access and frontage at ground floor level on Dean Street.  Considerable works have been undertaken including tanking of the space, providing a feature shell specification unit with a brick vaulted ceiling and capped services, as well as listed building consent granted to open up the street level windows.

 

USE & LICENCE
The unit benefits from A3 (Restaurant) and may be suitable for other uses subject to consents. There is a Premises Licence available for the unit, this
includes the serving of Alcohol between 11:00 – 00:00.  Further details and a copy of the licence available upon request.

 

RENT
The premises are available at an initial rent of £60,000 per annum exclusive.

 

LEASE TERMS
The unit is available by way of a new effectively fully and repairing and insuring term on a lease length of 10 years, subject to an upwards only rent review in year 5.

 

RATEABLE VALUE

Rateable Value £27,000
Rates Payable 2018/19 £12,960

We would advise any interested parties to contact the Local Rating Authority to verify this information.

 

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

 

VAT
All figures quoted are exclusive of any VAT that may be payable.

 

EPC
The energy performance certificate is available upon request.

 

VIEWING
Strictly by prior appointment through:
PETE TOWNSEND
T: 0191 280 4239
M: 07713 151 970
E: pete@atretail.co.uk

Or
IAN THURLBECK
T: 0191 280 4235
M: 07960 466 211
E: iant@atretail.co.uk

Property type: Leisure

Rateable value: £27,000

Planning use: A3

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