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

LOCATION
The subject property forms part of an attractive Grade II Listed parade prominently situated on Grainger Street with return frontage to Grainger Market.

Surrounding occupiers include Monkey Fist Hair, Sally Hair & Beauty, L’Occitane and End Clothing, with the Central Arcade and Cote Restaurant being situated opposite the subject property. Start Fitness and Start Cycles are nearby, together with the many banks, bars and restaurants located on Grey Street.

The property is well served by public transport links including bus, metro and train.

DESCRIPTION
The property comprises a Grade II Listed building which forms part of the Grainger Market. The building is of stone construction incorporating timber framed windows and door. The property is set over ground and first floor, with residential apartments above which are accessed via a separate entrance and are separately let.

Internally, the property provides retail accommodation to the ground floor with fully glazed shop front with return frontage to Grainger Market. The basement provides storage accommodation and staff w.c. facilities.

The retail area is presented in shell condition, with painted plastered walls and ceilings and exposed timber floor, ready for fit out by an incoming tenant.

It should be noted that due to the Grade II Listed status of the building, installation of extraction systems would not be viable.

ACCOMMODATION
The property provides ground floor sales space as follows:

Ground floor sales 50.91 sq m (542 sq ft)
Basement store 48.96 sq m (527 sq ft)
Max internal width 5.90 m (19’ 4”)
Sales depth 10.80 m (35’ 5”)

TERMS
LEASE TERMS

The property is available to let by way of a new effectively fully repairing and insuring lease.

RENT

£30,000 per annum plus VAT, exclusive of business rates.

OUTGOINGS
The property has a rateable value of £53,500

Interested parties should verify this figure and the amount of rates payable with the business rates department of Newcastle City Council.

LEGAL COSTS
Each party to bear their own legal costs in connection with the preparation and execution of the lease.

OTHER
ENERGY PERFORMANCE CERTIFICATE

The property is Listed and therefore does not require an EPC rating at this time.

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 YoungsRPS.