Retail premises to let in Narrowgate, Alnwick NE66

Location

Alnwick is situated approximately 30 miles to the north of Newcastle upon Tyne on the A1. It is the seat of the Duke of Northumberland with a current population of approximately 8,500. Alnwick benefits form a huge influx of visitors during the tourist season, estimated at over 60,000. Tourist attractions include Alnwick Castle and Gardens.

Narrowgate is a very popular and busy street within the centre of the town. It has always been a popular retail location and current occupiers are local traders and pubs/restaurants. The property occupies a prominent situation plenty of passing footfall.

Description

The property comprises a ground floor retail area accessed directly from Narrowgate. To the rear of the property is a lower ground floor area offering additional retail space.

Accommodation

The property includes the following net internal areas:

Ground Floor Retail Zone A 28.6 sq m / 307.85 sq ft
Basement Floor Showroom 30.5 sq m / 328.29 sq ft
Total: 59.1 sq m / 636.14 sq ft

Terms

The premises are available by way of a new effectively full repairing and insuring lease at a rent of £7,500 per annum. All other lease terms are to be agreed by negotiation. The insurance premium is £335.14 for this year but is subject to change.

The sale price for the property is £85,000.

Rating assessment

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

Shop and Premises - £5,500

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

The property has an energy assessment rating of “C” valid until 6 February 2030.

VAT

All figures are exclusive of VAT where chargeable.