Leisure/hospitality to let in 48-52 Sandhill, Newcastle Upon Tyne NE1

£75,000 pa (£14.22/sq. ft. pa)
Leisure/hospitality to let 5,274 sq. ft*
Interested in this property? Call +44 191 686 9796 * or Request Details

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Property description

Location


The subject property is located on Sandhill in Newcastle upon Tyne city centre. Sandhill forms part of Quayside and is a popular leisure and business destination in Newcastle and has surrounding occupiers including Sambucas, The Quilted Camel, Uno Trattoria, The Vermont Aparthotel, Aveika, Livello and House of Tides.

The property benefits from being within close proximity to Tyne Bridge and Swing Bridge, making it easily accessible. There are also bus stops 200ft away and Central Train and Metro Stations are 0.4 miles away.


Description


The subject property comprises a large ground floor bar and café premises which currently trades at Empourium. The premises has an occupancy of circa 500 people with two separate bars. Both the bar and café area have gone through extensive refurbishment recently and offer a high-end version of a city centre bar. The property benefits from external seating to the front of the property.


Accommodation


Total 490m² 5,274ft²


Rating assessment


Description rv Estimated Rates Payable
Public House and Premises £40,000 £19,960

We are advised that the rateable value of the premises as at 1 April 2017 is £60,000 and we have estimated the accrual 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


Awaiting EPC Rating.


The business


The business currently trades as Empourium, has a weekly turnover of £15,000 and the stock valuation totals £120,000. The property benefits from a license until 3am 7 days a week as well as a pavement café license. Further information can be provided upon request.


Terms


The property is available by way of a new lease with terms to be agreed at £75,000 (Seventy Five Thousand Pounds) per annum.


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.

Property info

  • Unfurnished

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

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For more information about this property, please contact
Bradley Hall, NE1 on +44 191 686 9796 * (local rate)

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Disclaimer

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