Leisure/hospitality to let in Grey Street, Newcastle Upon Tyne NE1

Situation
The unit occupies a prominent spot on the historic and iconic business & leisure street of Grey Street in Newcastle, a prime city centre location that leads to both the Quayside to the south and
Northumberland Street & Eldon Square Shopping Centre to the north.
The street is undergoing significant placemaking measures to pedestrianise and promote pavement trade from the leisure occupiers and benefits from multi storey car parking and metro stations nearby.
Adjacent to Cafe Mercy, other nearby occupiers include Sushi Me Rollin’, Pizza Punks, Las Iguanas, Zizzi, Leila Lily’s, Barluga and Grey Street Hotel. The City’s Theatre Royal is also in close proximity, together with a number of other established local leisure operators.

Accommodation
Arranged over ground & basement, the premises comprise a ground floor shop unit with an office facility to the rear, which could also be used for storage or extended sales:

Ground Floor
97.7 M2
1,051 ft2

Basement Staff/Store
79.3 M2
854 ft2

* Additional space at first floor level may be available providing 116.1 m2 (1,249 ft2), currently with separate access, further detail upon request.

Lease terms
A new Full Repairing & Insuring lease for a term to be agreed is available at £45,000 per annum exclusive for the ground and basement space. Details on application to include the first floor accommodation.

Planning use
The premises currently trade under ‘E class’ consent and are suitable for a variety of uses, subject to appropriate planning.

EPC
The property has a Energy Performance rating of D. A copy of the EPC is available upon request.

Business rates

Rateable Value
£28,000

2023/2024 ubr
£0.499

Estimated Rates Payable
£13,972

Interested parties are advised to make their own Business Rates enquiries with the relevant Local Authority.

Costs
Each party is to be responsible for their own legal costs incurred with this transaction. Service charge?

VAT
All figures quoted are exclusive of any VAT that may be payable.

Viewing
For enquiries, viewing, and general information, please contact:
Sarah Hart
E:
M: