Property description
SITUATION
The property is located on Groat Market just off Bigg Market in Newcastle City Centre. The street provides a passage way connecting Collingwood Street and the Bigg Market providing easy access to the surrounding bars, restaurants and the main shopping district of the city centre, including The Gate and Eldon Square Shopping Centre.
Groat Market also benefits from its close proximity to Newcastle Central Station only a few minutes walk away, and the surrounding area is also well served by numerous bus routes, metro stations and multi storey car parks making it easily accessible by both public transport and car.
Surrounding occupiers include Halo Hair Salon, ncj Media and Kafe Neon.
DESCRIPTION
The property comprises a ground floor restaurant unit with basement storage within a 4 storey terraced block.
The property is accessed by a front door with separate access to the first and second floors.
ACCOMMODATION
The property comprises:
Ground floor
109.65m²
(1120.25ft²)
Basement
34.6m²
(372.42ft²)
Total
114.25m²
(1552.67ft²)
TERMS
The property is available by way of a new lease for a term of years to be agreed with a rental from £20,000 (Twenty Thousand Pounds) per annum.
RATING ASSESSMENT
Description
RV
Estimated Rates Payable
Ground floor
£23,750
£10,877.50
Restaurant and
Basement Storage
We are advised that the rateable value of the premises as at 1 April 2010 is £23,750 and we have estimated the accrual rates payable for the current year above. This is based on the standard Small Business Rate of 45.8p in the pound. However, interested parties should confirm the current position with the Local Authority.
As a new occupier rights of appeal may exist against this assessment.
LEGAL COSTS
Each party is to bear their own legal costs involved in the transaction.
VAT
All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT.
VIEWING
For general enquiries and viewing arrangements please contact sole agents Bradley Hall Chartered Surveyors.
Property Features :
- Restaurant unit to let
- Within Newcastle city centre
- Ground floor with basement storage
- EPC Rating C74
- Size 144.25m² (1,552.7ft²)