Property
Palace Garden, 45-51 Stowell Street, Newcastle upon Tyne, NE1 4YB
The property comprises a three storey, end terrace brick-built building with a self-contained ground floor entrance. To the first floor there is a large open plan dining room with a bar area, male and female WCs as well storage.
The second floor incorporates a private function room with its own bar as well as the kitchen which is linked to the first floor via a dumbwaiter and has the benefit of two cold freezer/cold rooms. There are both male and female as well as staff WCs on the second floor as well.
LOCATION
The property is situated on Stowell Street in the centre of Newcastle upon Tyne in the area well known locally as China Town.
The street is home to several Chinese and other east Asian restaurants and other businesses associated with this community including a Chinese supermarket.
The building is the last building on Stowell Street, next door to the Wing Hong Supermarket and a short walk from Hadrian’s Tower.
ACCOMMODATION
| Ground Floor | 26.21 sq m | 282 sq ft |
| First Floor | 350.33 sq m | 3,771 sq ft |
| Second Floor | 387.53 sq m | 4,171 sq ft |
| Total | 764.07 sq m | 8,224 sq ft |
TERMS
The premises are available by way of a new full repairing and insuring lease at an asking rent of £75,000 per annum (exclusive). All other terms are to be agreed by negotiation including existing fixtures and fittings.
VAT
All figures are quoted exclusive of VAT where chargeable.
RATING ASSESSMENT
The 2023 rating assessment appearing on the Valuation Office Agency list is £42,750. The small business rate multiplier for the year 2023/2024 is 49.9 pence in the pound.
ENERGY PERFORMANCE CERTIFICATE
An EPC has been commissioned and will be made available ASAP.
LEGAL COSTS
Each party is to be responsible for their own costs incurred in the transaction.
ANTI-MONEY LAUNDERING REGULATIONS
In accordance with anti-money laundering regulations, two forms of identification and completion of George F White anti-money laundering compliance will be required from the successful tenant.
