Home Commercial Commercial Property Retail for sale in Market Place, Hexham, Northumberland, NE46
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Retail for sale in Market Place, Hexham, Northumberland, NE46

1710 sq ft

1710 sq ft

About this property

LOCATION
Hexham is a thriving market town, lying adjacent to the A69 Trans-Pennine route, which provides access to the A1 trunk road, 20 miles to the east. Carlisle lies around 38 miles to the west and Newcastle upon Tyne City centre 23 miles to the east.

The town also lies on the main railway line between Newcastle upon Tyne and Carlisle and is an important retail, commercial and tourist centre.

The property is well positioned within the heart of Hexham’s town centre, boasting a prominent position on the northern side of the Market Place, close to Hexham Abbey.

The Market Place is a strong retailing area of the town centre, lying at the northern end of the pedestrianised Fore Street. Nearby national retailers include Boots, Greggs, Costa and Mountain Warehouse. The traditional market trades every Tuesday. There is limited on street parking available nearby.

DESCRIPTION
The property comprises a Grade II Listed building, dating from the 18th Century. The building is of rendered brick and stone construction with traditional timber shop front and internal roller shutters.

Internally, the property provides retail/café accommodation over ground, first and second floors. To the ground floor is an open retail area currently with a bar counter to the rear. Beyond this are two w.c.’s and stairs to the upper floors. The first floor provides two sitting areas and a kitchen and to the second floor is an office/storage room and w.c. Typically, the property has timber floors, suspended ceilings and plastered walls, with spotlights or strip lighting to the ceilings.

Additional access to the property can be gained to the rear, off Pudding Row, where one car parking space is provided.

ACCOMMODATION
We have measured the property as providing the following net internal areas:

Ground floor 64.94 sq m (699 sq ft)
First Floor 68.72 sq m (740 sq ft)
Second Floor 25.16 sq m (271 sq ft)

Total 158.82 sq m (1,710 sq ft)

OUTGOINGS
We understand the property is entered into the current Rating list with a rateable value of £21,750.

Interested parties should make enquiries direct with the Local Authority to establish the actual rates payable.

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

OTHER
USE
The property has most recently been used as a café/wine bar. It is anticipated it will be suitable for a similar use or for other retail uses subject to all necessary consents including planning consent being obtained.

TENURE

The property is available freehold at a price of £275,000 or to let by way of a new full repairing and insuring lease for a term of years to be agreed at a rent of £22,000 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 sale price/rent.

LOCAL AUTHORITY

Northumberland County Council, County Hall, Morpeth, Northumberland, NE61 2EF.Telephone 0845 600 400.

ENERGY PERFORMANCE CERTIFICATE

An EPC is currently being prepared.

CODE OF PRACTICE FOR COMMERCIAL LEASES

The code of Practice for Commercial Leases in England and Wales recommends parties intending to enter into a lease 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 YoungsRPS
Contact Paul Fairlamb or Molly Flannigan on 0191 261 0300.

Location

Stamp duty due

Based on a sale price of £275,000 the total amount of stamp duty payable will be:

*

Last updated: The calculator has been updated to reflect changes in stamp duty following the Mini Budget on 23rd September 2022.

* This value is based on the standard rate and not applicable to first-time buyers or buy-to-let / second home buyers.