Leisure/hospitality to let in East Parade, Whitley Bay NE26

Location

Whitley Bay is a seaside town and densely populated region of North Tyneside located on the North East coast, approximately 9 miles to the north east of Newcastle upon Tyne.

It is easily accessed by road from the City Centre via the A1058 (Coast Road). The A1(M) and A19 are also easily accessed via the Tyne Tunnel. The Tyne & Wear Metro line runs through Whitley Bay with the closest station to the building being approximately 0.5 miles to the west. A metro journey to Newcastle city centre takes around 25 minutes to Whitley Bay.

The property is situated in close proximity to the re-developed Spanish City and Whitley bay seafront alongside a range of bars and restaurants and next to a free car park and Play House/Theatre.

Description

The property comprises an established Victorian sea front hotel on Whitley Bay promenade.

The ground floor is split into two sections, the first is to be retained by the hotel operator and will comprise reception and dining areas.

The second is available to let and comprises a former night cub / bar, which is mostly open plan save for some small storage areas and WCs to the rear of the premises.

Our client is seeking a single leisure operator to take the space in its entirety, to compliment the hotel offering.

Accommodation

The property includes the following gross internal areas:

Open plan dining / bar 161.28 sq m / 1,736 sq ft
Bar area 5.79 sq m / 62 sq ft
Cellar 24.36 sq m / 262 sq ft
WC's 24.08 sq m / 259 sq ft
Kitchen 9.78 sq m /105 sq ft
Stores 39.58 sq m / 426 sq ft
Bar lobby(s) 8.64 sq m / 93 sq ft
Total NIA 273.51 sq m / 2,943 sq ft
Total gia 303.9 sq m / 3,271 sq ft

Plans are available on request

Terms

The premises are available by way of a new full repairing and insuring lease at a rent of £50,000 per annum (exclusive).
All other terms are to be agreed by negotiation.

Rating assessment

The rating assessment currently appearing on the Valuation List is as follows:

The rateable value is for the whole property and will need to be reassessed in due course.

The Small Business Rate for the year 2023/2024 is 51.2 pence in the pound for properties with a rateable value of over £51,000.

Anti-money laundering

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.

Legal costs

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

Energy performance

An Energy Performance Certificate has been commissioned and will be available shortly.

VAT

All figures are exclusive of VAT where chargeable..

WHAT3WORDS

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