Property

Under Offer
Retail

23 Nelson Street, Newcastle upon Tyne, NE1 5AN

The property comprises ground floor retail premises within a mid-terrace building with stone front façade. The property has one entrance facing Nelson Street and one into the Grainger Market. The property currently retains the previous tenant’s fit out with a modern security counter and screen.  There is air conditioning in the unit as well a suspended tiled ceiling and a mixture of laminate and carpeted floors. The property and also has the benefit of basement storage.

LOCATION

Newcastle upon Tyne is the commercial capital of the North East of England is situated approximately 300 miles to the north of London, 100 miles to the south of Edinburgh and 100 miles to the north of Leeds.

The city has good communication being situated on the A1(M) connecting London and Edinburgh and also links with Carlisle and Cumbria to the west via the A69 Trunk Road.

Nelson Street is a popular secondary location in Newcastle city centre. Nearby local occupiers include The Alchemist, End Clothing and Coral Bookmakers.

ACCOMODATION

Ground Floor:                     56.85 sq m      (612 sq ft)

Basement:                             56.6 sq m      (609 sq ft)

Total:                                 113.45 sq m   (1,221 sq ft)

TERMS

The premises are available by way of a new full repairing and insuring lease exclusive of service charge and VAT on terms to be agreed at a rent of £27,500 per annum. All other terms to be agreed by negotiation.

RATING ASSESSMENT 

The rating assessment currently appearing on the 2017 Valuation List is £24,500.

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 EPC rating of B(44).

VAT

All figures quoted are exclusive of VAT where chargeable.

ANTI-MONEY LAUNDERING

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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