Leisure/hospitality to let in Newgate Street, Newcastle Upon Tyne NE1

£35,000 pa (£673 pw)
Leisure/hospitality to let
Interested in this property? Call +44 330 038 7422 * or Request Details

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

Property features

  • Last remaining unit of the recently redeveloped grade II listed iconic former department store within Newcastle City Centre.
  • 1,320 sqft unit available
  • The unit benefits from A1 & A3 planning Consent
  • Other occupiers include Turtle Bay, Zaap, and an Adventure Golf operator.
  • These ground floor restaurants compliment the 184 bedroom Premier Inn situated on the upper floors and the 17,000 Sqft basement occupied by The Gym Group.

Property description

Location
This ground floor retail unit forms part of the recently redeveloped Grade II listed iconic former department store within Newcastle city centre. Unit A – D are let to Turtle Bay, Zaap, and an Adventure Golf operator. These ground floor restaurants compliment the 184 bedroom Premier Inn situated on the upper floors and the 17,000 Sqft basement occupied by The
Gym Group The property adjoins The Gate Leisure complex, which is home to Asper’s Casino, a 12 screen Empire Cinema, tgi Friday’s, Coast to Coast and Handmade Burger Co amongst others.
Intu Eldon Shopping Centre’s St Andrew’s extension, anchored by Debenhams, is immediately opposite. The shopping centre comprises 1.6million sqft of retail space with 36 million visitors a year.

Accommodation
The accommodation is arranged on ground floor level and offers the following approximate floor areas:-

Ground Floor Sales
1,320 sq ft
122.63 sq m

The landlord is willing to undertake works to the shop front, further details available upon request.

Planning
The unit benefit from A1 and A3 planning consent and therefore is suitable for a variety of uses. Interested parties are advised to make their own enquiries regarding use to the Local Authority

lease terms
The premises are offered by way of a new effectively full repairing and insuring lease for a term to be agreed, subject to five yearly upward only rent reviews at a rent of £35,000 pa.

Service charge
The annual service charge is estimated at £1.50 per sqft.

Rates
Interested parties are advised to make their own enquires of the Local Rating Authority as the property will need reassessing for rating purposes.

Legal costs
Each party will bear their respective legal costs incurred in connection with the transaction.

Viewing
Strictly by prior appointment sole agents @retail:
Ian Thurlbeck
dd: Mob: Email:

Or

Pete Townsend

or alternatively via our joint agent jll

Property info

Floorplan(s): Floorplan 1

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For more information about this property, please contact
@retail, NE28 on +44 330 038 7422 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by @retail, and do not constitute property particulars. Please contact @retail 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.

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