Retail premises to let in Benton Road, Newcastle Upon Tyne NE7

Location

The property is located in a prominent position within a busy parade of shops situated approximately 3 miles north of Newcastle upon Tyne city centre. Four Lane Ends Bus and Metro Interchange is located to the north of the street whilst Northumbria University’s Coach Lane Campus is located due east. Nearby occupiers include Subway, Greggs, Iceland and a Tesco Express / Esso garage. The property is also very close to the hmrc, Department for Work & Pensions as well as the Ministry of Pensions.

Description

The premises comprise a first floor former hair salon in a terraced row of retail units immediately above Subway. The majority of the premises are laid to a hair salon with an office and toilet facilities.

Accommodation

The property briefly comprises:

Sales Area - 670 sq ft 62 sq m

Terms

The premises are available by way of a new full repairing and insuring lease at a rent of £8,250 per annum (exclusive). All other terms are to be agreed by negotiation.

Rating assessment

The rating assessment for the future appearing on the 2023 Valuation List is as follows: -

Shop and premises: £4,450

The Small Business rate for the year 2023/2024 is 49.9 pence in the pound. Due to the Rateable Value being beneath £12,000 we understand that small business relief may be available. All interested parties are urged to make their own enquiries in this regard.

Legal costs

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

EPC

The property has an energy performance certificate rating of D(87).

VAT

We are advised that the property is not elected for VAT.

Anti-money laundering regulations

In accordance with anti-money laundering regulations, two forms of identification and confirmation of the source of funding will be required from the successful tenant.