Retail premises to let in Grainger Street, Newcastle Upon Tyne NE1

Location

Prominently situated on Grainger Street, the subject property enjoys a prime pitch in the city centre. The property is situated on the northern side of Grainger Street which is nearer to Grey’s Monument. Noble occupiers in the area include End and Start Fitness.

The property is situated approximately 0.1 miles from Monument Metro Station, and Greys Street. Grainger Street is a highly sought after retail destination in the city centre.

Description

The property comprises a retail unit arranged over a ground floor and basement. The property benefits from a prominent wide glass frontage facing onto Grainger Street. The unit has a modern fit out.

Accommodation

We calculate the approximate net/gross internal floor areas to be as follows:

Basement 160.4m² 1,727ft²
Ground Floor 129.4m² 1,393ft²
Total 289.8m² 3,120ft²

EPC rating

Awaiting EPC rating

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.

Anti-money laundering regulations

In accordance with the Anti-Money Laundering Regulations we are required to verify the identify of the Purchaser/Tenant. We will do so based on name and address data provided but we may also require you to provide two forms of identification. We will require the Purchaser/Tenant to provide proof of the source of income.

Rating assessment

The rateable value of the premises as at 1 April 2023 is £64,500 and the estimated rates payable for the current year is £32,185.50 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.

Terms

The property is available by way of a new lease with terms to be agreed at a rent of £80,000 (Eighty Thousand Pounds) per annum.