Home Commercial Commercial Property Retail to let in Low Friar Street, Newcastle Upon Tyne, NE1
Property Unavailable

About this property

LOCATION
The subject property is situated in a central location of Newcastle City Centre, immediately to the rear of The Gate Leisure Complex. Chinatown and Eldon Square Shopping are also within close proximity of Low Friar Street. The property lies parallel to Clayton Street and enjoys direct access to Westgate Road.

Surrounding occupiers include Nudo Noodle House, Norther Runner, Breadpoint, Native Skate and Mail Boxes Etc. Low Friar Street also supports a number of local occupiers

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

DESCRIPTION
The property comprises a ground floor open plan retail shop unit with glazed timber framed frontage and benefits from electronically operated external roller shutters to the front. There are shared W.C facilities and bin storage to internal communal service corridor immediately to the rear.

Internally, the property is presented in good condition, with laminate flooring, plastered walls and integral lighting throughout. There is a demountable rear storeroom as well as a door to the rear leading to the communal service corridor.

The property has most recently been used as a Food Store but may be suitable for a variety of other uses, subject to all necessary consents including planning consents being obtained.

ACCOMMODATION
Ground Floor

Sales area 58.33 sq m (628 sq ft)

The rear could be separated for storage.

TERMS
Available on a new effectively full repairing and insuring lease for a term to be agreed. Common expenditure to the development will be recoverable via a service charge.

RENT

£11,750 per annum exclusive.

OUTGOINGS
The property has a rateable value of £10,250 from 1 April 2023.

Tenants who qualify for Small Business Rates may be entitled to a reduction. However, interested parties should verify this figure and any rates payable with the Local Authority.

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

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 has an EPC rating of C-74.

A copy of the EPC 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

VIEWING
Strictly by appointment with YoungsRPS (reference Michael Boaden Tel: 0191 2610300).

Location