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Under Offer

Restaurant to let in Town Hall Buildings, Princes Street, Corbridge, Northumberland, NE45

£18,000 per annum

2302 sq ft

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About this property

LOCATION
Corbridge is an affluent village situated in the Tyne Valley, approximately 15 miles west of Newcastle upon Tyne and 5 miles east of Hexham. The village lies immediately south of the A69 Trunk road which connects Newcastle in the east to Carlisle in the west. There is also a main line railway station situated on the edge of the village.

The village has a resident population of around 3,672 (2011 Census), however the size of the village is set to grow shortly with the construction of a new residential development. The area is also popular with tourists and has a wide catchment area including the nearby town of Hexham.

The subject property is located on Princes Street at its junction with Hill Street. Adjoining occupiers include Boots the Chemist and the Post Office.

DESCRIPTION
The subject property forms part of a two-storey detached building of stone construction under a slate covered pitched roof. The building is Grade II Listed.

Currently, to the ground floor, there is an entrance hallway leading to a bar which also has access to a small rear courtyard. Stairs from the entrance hallway lead up to the first floor lounges and dining rooms which benefit from large ornate bay windows overlooking the village. The space provides a number of lounges and dining areas together with a bar, toilets and catering kitchen.

The staircase then leads on to the attic space which provides useful office and storage space. The property is heated by a gas fired central heating system to radiators.

ACCOMMODATION
We have calculated the property as providing the following net internal areas which excludes hallways and circulation space:

Ground floor:
Bar 24.25 sq m (261 sq ft)
First floor:
Lounges and bar 102.07 sq m (1098 sq ft)
Kitchen 18.81 sq m (202 sq ft)
Attic space:
Office 15.06 sq m (162 sq ft)
Storage rooms 53.82 sq m (579 sq ft)

Total 214.01 sq m (2302 sq ft)

TERMS
The property is available to let by way of a new effectively full repairing and insuring lease for a term of years to be agreed.

RENT

£18,000 per annum, exclusive of Business Rates and payable quarterly in advance. The property is not registered for VAT and therefore VAT will not be payable on the rent.

The property is available at nil premium.

OUTGOINGS
The property is entered into the Rating List as follows:

Description: Public House & Premises
Rateable Value: £20,500

Interested parties should verify the amount of Business Rates payable with the Local Authority.

LEGAL COSTS
Each party is to bear their own legal costs.

PLANNING
USE

The property has most recently been used as a bar and restaurant. We understand the property has planning consent for such a use, however all interested parties should satisfy themselves as to the precise terms and conditions of any planning consent and licencing conditions.

The property may also be suitable for alternative uses, subject to all necessary consents including planning consent being obtained.

OTHER
ENERGY PERFORMANCE CERTIFICATE

The property has an Energy Efficiency Rating of
C-72.

A copy of the EPC and recommendation report is available upon 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

VIEWING
Strictly by appointment with sole agents, YoungsRPS (Ref: Michael Blake or Paul Fairlamb).

All figures quoted above are exclusive of VAT where chargeable.

Location