Property

Under Offer
Leisure Offices Retail

50 Clayton Street, Newcastle upon Tyne, NE1 5PF

Prime City Centre, four storey retail premises

Ground floor sales area of 74.1 sqm (798 sq ft) and 6.05m frontage

Asking Rent: £25,000 per annum

Accommodation totalling 242m2 (2,607ft2) over basement, ground and three upper floors

LOCATION

Newcastle upon Tyne is the commercial capital of the North East of England. The city is situated 12 miles inland from the east coast, some 270 miles north of London, 105 miles south of Edinburgh and 94 miles north of Leeds. The city is on the main A1 London to Edinburgh trunk road and links to Carlisle via the A689 to the west of the city. Newcastle benefits from being situated on the main east coast railway line. The Metro system provides connections throughout the city and the rest of Tyne & Wear. The city has a population of 280,835, although this extends to 879,996 if the whole Tyneside conurbation is taken into account.

SITUATION

The property is situated in the heart of Newcastle city centre, very close to Debenhams & Intu Eldon Square shopping centre, The Grainger Market and the newly constructed Maldron Hotel.

The property is located in a prominent position on Clayton Street, which is an improving location, in close proximity to the southern end of the redeveloped Eldon Square Shopping Centre, one of the largest city centre shopping destinations in the UK with an annual footfall of 35 million. Nearby is The Gate Complex and other retail and leisure occupiers.

DESCRIPTION

Grade II Listed, four storey retail property with basement. The unit offers ground floor sales with staff and office accommodation above.

ACCOMODATION

The building comprises the following Net Internal Areas;

DescriptionSq ftSq m

 

Frontage 6.05 m
Ground Floor798 sq ft74.1 sq m
First Floor518 sq ft48.1 sq m
Second Floor404 sq ft37.5 sq m
Third Floor454 sq ft42.2 sq m
Basement434 sq ft40.3 sq m
TOTAL2,607 sq ft242 sq m

RATING ASSESSMENT 

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

Basement Ground & First Floors:-   £24,250

Second & Third Floors:- £2,850

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.

TERMS

The premises are available by way of a new full repairing and insuring lease at a rent of £25,000 per annum (exclusive). All other terms are to be agreed by negotiation.

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

EPC

The property has an EPC rating of D(88).

 VIEWING

By appointment through sole agent Johnson Tucker LLP.

 

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