Restaurant/cafe to let in Groat Market, Newcastle Upon Tyne NE1

£24,000 pa (£19.90/sq. ft. pa)
1,206 sq. ft*
Interested in this property? Call +44 191 563 0289 * or Request Details

* Calls to this number will be recorded for quality, compliance and training purposes.

Property description

The property is situated in the heart of the busy Bigg Market/Groat Market and comprises a ground floor restaurant and is has recently been refitted and is presented in good condition. We are advised that the fixtures and fittings are owned outright and are to be included in the sale of the business, subject to an inventory.



Location
The property is situated in the heart of the busy Bigg Market/Groat Market, which is one of most established leisure quarters in Newcastle upon Tyne City centre.

The Bigg Market/Groat Market area is home to a wide variety of restaurants and public houses and is about to undergo a £3 million refurbishment programme, which includes significant public realm refurbishment.

Description
The property comprises a ground floor restaurant within a three-storey mid-terraced building. The property is situated in a Conservation Area and is locally Listed.The entrance hallway leads to the bar, which in turn opens out into the restaurant, which provides 60-70 covers. Stairs lead down into the basement area, where there are male & female w.C’s, as well as kitchen, food prep and storage areas. The property is situated on a slightly sloping site and therefore a door leads out from the basement to the side yard, which is shared with several other businesses.

The restaurant has been recently refitted and is presented in good condition. We are advised that the fixtures & fittings are owned outright and are to be included in the sale of the business, subject to an inventory.

Accommodation
Ground floor
Bar area 24.82 sq m(267 sq ft)
Restaurant 49.68 sq m(535 sq ft)

Basement
Office/store 9.53 sq m (103 sq ft)
Food prep area10.01 sq m(108 sq ft)
Kitchen 15.97 sq m(172 sq ft)
Store 1.92 sq m (21 sq ft)
Ladies/Gents w.C’s

Total 111.93 sq m (1206 sq ft)

terms
The current lease is for a term of 10 years from 5 March 2010, at a passing rent of £24,000 per annum. Further details and a copy of the lease can be provided to interested parties.

Alternatively, we are also advised that the landlord is prepared to grant a new lease on terms to be agreed.

Outgoings
We understand the property is entered into the 2017 Rating List with a Rateable Value of £18,500.

Interested parties should verify this figure with the Local Authority.

VAT
The property is not registered for VAT and, therefore, VAT will not be payable on the rent.

Other
Although the business has now closed, premium offers are invited for the leasehold interest in the property to include all fixtures and fittings, subject to the existing lease. Further details are available on request.

Viewing
Strictly by appointment with sole agents, YoungsRPS (reference Michael Blake or Paul Fairlamb).

Property info

Nearby transport

  • Newcastle (0.2 miles)
  • Manors (0.4 miles)
  • Dunston (1.8 miles)
  • Newcastle Airport (5.6 miles)
  • Durham Tees Valley Airport (32.8 miles)
  • Leeds Bradford International Airport (76.5 miles)
  • Newcastle International Ferry Terminal (6.7 miles)
  • North Shields Ferry Terminal (7.1 miles)
  • South Shields Ferry Terminal (7.1 miles)

Nearby schools

View all schools in Newcastle upon Tyne
  • Our Lady and St Anne's RC Primary School (0.5 miles)
  • Christ Church CofE Primary School (0.5 miles)
  • St Paul's CofE Primary School (0.6 miles)
  • Gosforth Academy (2.9 miles)
  • Monkseaton High School (7.2 miles)
  • Ponteland High School (7.2 miles)
  • Royal Grammar School (0.9 miles)
  • Bahr Academy (1.0 mile)
  • The Gateshead Cheder Primary School (1.1 miles)
Note: Distance is shown as a straight line measurement

Local info for Newcastle upon Tyne

About the neighbours in NE1

* Sizes listed are approximate. Please contact the agent to confirm actual size.

Arrange Viewing

For more information about this property, please contact
YoungsRPS, NE1 on +44 191 563 0289 * (local rate)

Contact YoungsRPS about this property

Enter details
    Morning (8am-noon)
    Afternoon (noon-5pm)
    Evening (5pm-9pm)
  1. Characters remaining: 500

By submitting this form, you accept our Terms of Use and Privacy Policy. When you click 'Send message''Request valuation', we will pass your personal data to the selected estate agents so that those agents can respond to your request for information or to arrange a viewing. valuation request.

Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by YoungsRPS, and do not constitute property particulars. Please contact YoungsRPS for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

Properties on the market nearby

5 more properties like this

View all Groat Market commercial properties to let