Retail to let in Clayton Street, Newcastle Upon Tyne, NE1

LOCATION
The property occupies a prominent location on the corner of Clayton Street and Newgate Street in the heart of Newcastle City centre, directly opposite Burger King and adjacent to KFC and Ladbrokes.

In addition, the premises is in close proximity to The Gate leisure complex which consists of multiple restaurants, bars and a Cineworld cinema. The site benefits from being located near Eldon square shopping centre which boasts a weekly footfall of approximately 689,000 people as well as The Grainger Market and the McAleer & Rushe mixed use development including 575 student rooms and a 265-bedroom Maldron Hotel.

On street parking is available on adjacent streets with further parking at The Gate, Eldon Square and Eldon Gardens. There is excellent public transport links with the Monument Metro Station and bus services being located close by.

DESCRIPTION
The property is a Grade II listed end of terrace unit with a stone-built façade. The property has single glazed timber framed windows, return frontage on Clayton Street and Newgate Street with the benefit of pedestrian access from each aspect.

Internally, the property is arranged over basement, ground and first floor levels which can all be used for sales, staff areas or storage with full ceiling heights. The unit is presented in a shell condition to allow for a range of uses for a tenant fit out.

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

Ground Floor
Sales: 86 sq m (928 sq ft)
Basement
Sales/Staff/Storage 74 sq m (800 sq ft)
First Floor
Sales: 70 sq m (751 sq ft)

TOTAL 230 sq m (2479 sq ft)

OUTGOINGS
The property is entered into the 2023 Rating List with a rateable value of £39,500.

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

VAT
The property is registered for VAT and, therefore, VAT will be payable on the rent.

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

OTHER
TENURE
The property is available to let for a term of years to be agreed on a fully repairing and insuring lease.

RENT
The property is available to let at a rent of £65,000 per annum, exclusive of business rates and payable quarterly in advance.

LOCAL AUTHORITY
Newcastle City Council, Civic Centre, Barras Bridge, Newcastle Upon Tyne, Tel: 0191 232 8520).

ENERGY PERFORMANCE CERTIFICATE
The property is currently waiting for an EPC.

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 the sole agents, YoungsRPS, contact 0191 261 0300 or:

Stephanie Dixon:
Stephanie.dixon@youngsrps.com
07936 359 506

Cameron English:
Cameron.english@youngsrps.com
07566 766 781