Office for sale in Buxton Street, Newcastle Upon Tyne NE1

Location

The subject property is prominently located on the corner of Buxton Street and Gibson Street in Newcastle upon Tyne, just 0.5 miles east of the city centre.

The property is situated directly opposite the Staybridge Hotel and just 0.2 miles from Newcastle’s Quayside which is a popular and established business and leisure destination and only a 10-minute walk from Northumberland Street in Newcastle City Centre.

This makes the property easily accessible and well located, particularly for meetings, or lunch breaks in the City Centre, or Quayside.

The property is well located for accessibility by road, with the A193 just 0.1 of a mile away, the A167(M) is 0.4 of a mile away and the A186 is approximately 160 yards away.

Public transport links include Manors Metro and Railway Station which is 0.5 miles away.

Description

Buxton House comprises a substantial four storey, detached office building which occupies a prominent corner position.

The property benefits from a dedicated entrance from Gilbson Street, reception area, several meeting rooms and a board room. The offering is of good quality cellular office space on ground and first floors with the second floor presenting an open-plan space. The property also has a large basement area offering staff room and kitchen facilities as well as a plant room and warehouse space.

Accommodation

Basement 264.9m² 2,851ft²
Ground Floor 215.7m² 2,322ft²
First Floor 254.9m² 2,744ft²
Second Floor 321.4m² 3,460ft²
Total 1,065.9m² 11,376ft²

Use class

The property currently benefits from an B1 (Office) use class but may be suitable for a variety of uses, subject to obtaining planning permission and change of use.

Car parking

The property benefits greatly from a car park to the side and rear which can accommodate 20 vehicles. This is something of a rarity in such close proximity to Newcastle’s city centre and Quayside.

Rating assessment

Description rv Estimated Rates Payable
Office and Premises £43,250 £21,581.75

We are advised that the rateable value of the premises as at 1 April 2023 is £43,250and we have estimated the actual rates payable for the current year above. This is based on the standard Small Business Rate of 49.9p in the pound. However, interested parties should confirm the current position with the Local Authority.

EPC rating

E104

Terms

The property is available by way of a new lease with terms to be agreed at £10 per ft².

The freehold is available at £1,300,000 (One Million Three Hundred Thousand Pounds).

VAT

All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT.

Legal costs

Each party is to bear their own legal costs involved in the transaction.

Money laundering regulations

In accordance with the Anti-Money Laundering Regulations the Purchaser/Tenant will be required to provide two forms of identification and proof of the source of income.