Property

Leisure Offices Retail

1st Floor, 14-18 Stowell Street, Newcastle upon Tyne, NE1 4XQ

The available premises are situated on the first floor of this brick built 4 storey building. The floor is accessed from a ground floor staircase.  The floor is currently laid out as a series of cellular offices however the space has planning use for any of A1, A3, B1 and D1 use classes.

LOCATION

The property is situated on Stowell Street in the centre of Newcastle upon Tyne in the area well known as ‘China Town’. The street is home to a number of Chinese and other East Asian restaurants and other businesses associated with the community, including a Chinese supermarket. The available premises are available in the building that is also home to Spot White snooker club whilst the main entrance to Aspers Casino is located on the other side of the street.

ACCOMODATION

The property has a gross internal area of 563.9 sq m (6,070 sq ft). Individual suites are available from as small as 18.58 sq m (200 sq ft).

TERMS

The premises are available in whole or part by way of a new effective full repairing and insuring lease at a rent of £10 per sq ft per annum (exclusive). All other terms are to be agreed by negotiation.

RATING ASSESSMENT 

The rating assessment currently appearing on the 2017 Valuation List is as follows: –

Office & Premises:  £26,500

The Small Business rate for the year 2019/2020 is 49.1 pence in the pound

LEGAL COSTS

Each party to bear their own legal costs incurred in the transaction.

EPC

The property has an energy performance certificate rating of D77.

VAT

All figures quoted are exclusive of VAT where chargeable.

ANTI-MONEY LAUNDERING REGULATIONS

In accordance with anti-money laundering regulations, two forms of identification and confirmation of the source of funding will be required from the successful tenant.

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