Region: Tyne and Wear
Town/City: Gosforth, Newcastle upon Tyne
LOCATION / SITUATION
Newcastle is a regional retail destination for the North East of England and pulls from a wide geographical area. There are over 2.2 million persons living within a 45- minute drive, with a annual retail spend of £8 billion. The site sits 2.5 miles north of the city centre in the affluent suburb of Gosforth on the A191, serving as a commuter route into and out of Newcastle city centre, and onto other suburbs such as Gosforth, Benton, Longbenton, and Forest Hall. Along with this it is also well connected with public transport, with Longbenton and South Gosforth Metro Stations each a 10-minute walk, and also being serviced by a comprehensive bus service opposite the site connecting the greater areas of the North East.
Nearby notable retailers include Sainsburys Local, Majestic Wines, Sue Ryder, and Magnet Kitchens and most notably adjacent to a new Lidl Store. Once completed the two units will share 105 car parking spaces.
Following completion of the works in spring 2019, the unit will provide a GIA of 6,781 sqft / 630 sqm of open A1 consent. The unit will consist of a highly prominent unit providing full height retail space provided to a standard developer’s shell specification, further details upon request.
The premises will be available by way of a 10-year sublease from Lidl. This is to be drafted on an effectively Full Repairing and Insuring basis via a service charge, at a quoting rent of £15.00 psf equating to approximately £101,715 per annum excl. The premises is not capable of further sub-division.
The property will be assessed by the local authority following completion of the development and occupation. Interested parties should make their own enquiries as subject to individual circumstances the actual amount payable may vary.
There will be a service charge payable to cover the upkeep of the building and communal areas including the car park and loading facilities. Further information available from the agents listed below.
Each party to be responsible for their own legal costs incurred in connection with any transaction.
ENERGY PERFORMANCE CERTIFICATE
Available upon request following completion of the development.
Strictly by appointment with @retail:
0191 280 4236
0191 280 4239
Or alternatively our Joint Agent:
Connect Property 07904 622 277
Property type: Leisure, Retail
Rateable value: £TBC
Planning use: A1
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