Property
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;
| Description | Sq ft | Sq m
|
| Frontage | 6.05 m | |
| Ground Floor | 798 sq ft | 74.1 sq m |
| First Floor | 518 sq ft | 48.1 sq m |
| Second Floor | 404 sq ft | 37.5 sq m |
| Third Floor | 454 sq ft | 42.2 sq m |
| Basement | 434 sq ft | 40.3 sq m |
| TOTAL | 2,607 sq ft | 242 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.
