About this property
Shakespeare House is situated opposite the Theatre Royal in the heart of Newcastle’s traditional prime office core, close to Grey Street and benefits from ease of access to the Metro at Monument and is a two minute drive from the Central Motorway, A167(M). Newcastle’s prime retail areas of Northumberland Street and Intu Eldon Square Shopping Centre are only a few minutes’ walk and Central Station can be reached within a 10 minute walk. There are a number of surface and multi-storey car parks close to the property.
Shakespeare House has been comprehensively refurbished and modernised to provide high quality city centre office accommodation on three upper floors. The offices benefit from the following specification:
• Fully carpeted throughout
• Security entry system and CCTV
• Eight person passenger lift
• Three compartmental floor trunking
• Gas fired central heating via perimeter radiators
• Kitchen and w.c. facilities are located within the common areas of the building on each floor
• Shower facilities
• Onsite cycle storage
• Double glazing throughout
• Good natural daylighting
• DDA compliant
Other occupiers of Shakespeare House include: CBI, Christie & Co (Business Transfer Agents), Argon Properties Limited (Commercial Property Development Company), Protocol Education Limited (Education Recruitment Agents) and CK21 (Civil Engineers) and Charles Taylor Insurance Services.
This suite is situated on the third floor of the building, with views to the west and to the north on to Shakespeare Street. The entrance to the suite is off the lift landing area.
The suite is entirely open plan and extends to a floor area of 72.28 sq m (778 sq ft). Work to refurbish the suite, to include recarpeting, redecoration and the installation of LED panel lighting has just been completed.
The accommodation is available on an effectively full repairing and insuring standard form of lease for the building for a term of 6 years, inside the protection of Part II of The Landlord & Tenant Act 1954.
We understand that the suite has a rateable value of £9,100.
Interested parties should confirm the rates liability with the business rates department of Newcastle City Council.
Each party to bear their own legal costs in connection with the preparation and execution of the lease.
A service charge will be payable to enable the landlord to recover from the tenant a fair proportion of the costs of maintaining and managing the building and common areas.
The service charge will be capped for the first 3 years of the term at the rate of £6.50 per sq ft (£5,057) plus VAT per annum.
£8,950 plus VAT per annum, based upon a rate of £11.50 plus VAT per sq ft per annum for the first three years of the term.
Rent to be reviewed in an upward only direction to market rent at the end of the 3rd year of the term.
RENT FREE INCENTIVE
The first month of the term will be rent free. A further one month rent free will be offered if the tenant doesn’t break the lease. This will only apply if a further full year is assured.
TENANT’S BREAK CLAUSE
The tenant will be able to break at the end of the second year of the term and annually thereafter upon at least six months’ notice.
ENERGY PERFORMANCE CERTIFICATE
The suite has an EPC rating of D-90. A copy of the EPC certificate and recommendation report is available on request.
CODE OF PRACTICE FOR COMMERCIAL LEASES
The Code of Practice for Commercial Leases in England and Wales recommends parties intending to enter into leases should seek advice from professionals or lawyers at an early stage. The Code is available through professional institutions and trade associations or through the website, www.commercialleasecodeew.co.uk
Strictly by appointment through Joint Agents YoungsRPS or Knight Frank.