Rent: £60,000 - £60,000
Region: Tyne and Wear
Town/City: Newcastle upon Tyne
Newcastle upon Tyne is the economic and administrative capital of the North East of England, with an immediate catchment population of 616,000. Newcastle City Centre is the retail focus for the wider North East region, centred around intu Eldon Square, Northumberland Street and Grainger Town.
The premises present a prominent frontage to the southern section of Clayton Street, part of the retail core of Grainger Town. Clayton Street benefits from being on principle bus routes in the city centre and acts as the value retail destination in Newcastle. To the north of the property a new 4 Star Maldron Hotel and 575 bed student residential accommodation alongside ground floor retail and Leisure accommodation has been built. This is a landmark City Centre development benefitting the surrounding streets. Retailers represented on Clayton Street include Heron Frozen Foods, British Heart Foundation, Brighthouse and Poundland Plus. Newcastle’s O2 Academy music venue is located further south on the street.
The property provides a large ground floor sales area, with a loading area to the rear accessible from Low Friar Street. Part of the first floor is suitable for sales and is accessible from the ground floor via a goods lift to the rear.
The premises offer the following approximate floor areas:
|Ground Floor||5,884 sq ft||546.63 sq m|
|First Floor Sales||2,884 sq ft||267.93 sq m|
|First Floor Ancillary||3,282 sq ft||304.91 sq m|
The property is available on a new Full Repairing and Insuring Lease for a term of years to be agreed, at a rent of £60,000pa excl.
We are verbally advised that the premises are assessed as follows:-
|Rates Payable April 2019/20||£42,084|
Interested parties are advised to make their own enquiries of the Local Rating Authority for verification of the above.
ENERGY PERFORMANCE CERTIFICATE
The property has an energy performance asset rating of C(51) . The certificate is available upon request.
Each party will bear their respective legal costs incurred in connection with the transaction.
All figures quoted in these terms are exclusive of VAT where chargeable.
Through the retained agents: –
IAN ANGUS – @retail
DD: 0191 280 4235
M: 07960 466 211
PETE TOWNSEND – @retail
DD: 0191 280 4239
M: 07713 151 970
Property type: Retail
Rateable value: £83,500
Planning use: A1
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