Unit 1 is let to private individuals on a 10 year lease ending 2 March 2027 at a rent of £25,000 per annum with rent reviews on 3 March 2021 and 3 March 2025.
Unit 2 is let to Pineapple and Bears Ltd on a 10 year lease from 12 Feb 2019 with a personal guarantee limited to the 11 February 2023. The annual rent is currently £25,000 per annum increasing to £32,000 per annum from 12 February 2022 and increasing further to £38,000 per annum on 12 February 2027. There are tenant breaks on 12 February 2023 and 12 February 2027 subject to 6 months’ notice.
Unit 3 is let to two private individuals at a rent of £15,000 per annum for a term of years ending on 2 March 2027. There are rent reviews on 17 May 2022 and 17 May 2026.
The total passing rent is therefore currently £65,000 per annum increasing to £72,000 per annum from 12 February 2022 and £78,000 per annum from 12 February 2027.
Offers in excess of £770,000 are invited for our client’s freehold interest reflecting a net initial yield of 8.01% increasing to 8.87% in February 2022 and 9.61% in February 2027. The vendor will top the rent up £72,000 pa to provide a NIY of 8.87% from completion of the sale.
The subject property is a three storey building most recently occupied by Marios Restaurant which had been a long standing and highly successful restaurant in Newcastle city centre.
The property would be suitable for a variety of uses subject to planning.
We also understand that planning is in place for change of use of vacant 1st and 2nd floors to three apartments (Ref: 2014/1298/01/DET).
The property comprises a versatile ground floor commercial unit formerly occupied by a beauticians. The property could be suitable for a variety of uses but is ideally suited for use by another beauticians, hair dressers, masseurs or similar business.
Internally the unit provides a reception area, nail bar area and seven separate treatment rooms. The floor benefits from a non-slip covering whilst the walls and ceiling are plastered and painted with strip florescent lighting.
The property comprises entirely ground floor premises formerly occupied as Boots the Chemist but would suit alternative retail and leisure uses subject to planning. The property has a wide retail frontage with substantial glazed elevation with recessed entrance. The property is also immediately outside a bus shop and next door to James Fulton Hair Studio and Sarah Mains Estate Agents.
The property is two storey mid terraced unit with a pitched slate roof. The ground floor provides retail space with ancillary facilities to the rear. The first floor provides further storage and a kitchen. The unit could be suitable for a variety of uses subject to planning.
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INVESTMENT OPPORTUNITY – The freehold is available to purchase together with the neighbouring retail unit trading as Yazz, which is let on a lease at £10,400 per annum until 24th March 2025 – asking price on application.
The property comprises a first floor former hair salon in a terraced row of retail units immediately above Olivers restaurant. The premises mainly comprises an open plan sales/office space alongside a centrally located kitchen and toilet.
This is a multi-purpose city centre space suitable for a variety of uses
With a floor area of approximately 16,275 sq ft split into a number of distinctive sections including two former church halls with ceiling heights in excess of 10m and a very large three bedroom flat
The property is located on the campus of Northumbria University sharing a green / courtyard with The Wynne Jones Building (lecture theatres), Picton Manor (student accommodation, restaurant & offices) and MEA House (office accommodation)
It is centrally located in Newcastle upon Tyne, just off the Central Motorway (A167) with a car park immediately to the rear on Ellison Place for 119 cars
Only a short walk from Northumberland Street, Newcastle’s prime retail pitch as well as Manors and Haymarket Metro stations
The property is Grade II Listed
Our client is seeking JV Partners or may consider an outright sale
Prominently positioned on Front Street
Other nearby retailers including Greggs, Boots and Halifax
Total ground floor area of approximately 1,761 sq ft (163 sq m)
Attractive four storey building with stone front elevation under a slate pitched roof
Offers of £37,500 per annum are sought for the ground floor retail area. All other terms to be agreed
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.
Unit 1 comprising the ground ﬂoor of the original bank has planning permission for Class A3 (restaurant and café)/A5 (hot takeaway food) usage with ﬂoor area of approximately 132.76 sq m (1,429 sq ft).
Unit 2 comprises the new glass box extension overlooking the River Pont which also has Class A3 / A5
The first ﬂoor, with independent access from Darras Road, has planning permission for a spacious 3 bedroom apartment over two ﬂoors. The upper ﬂoors can also be retained as office accommodation if desired.
Alternatively, the whole building, including all three sections can be occupied by a single tenant.
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