Property description
SITUATION
The subject property is located on the north side of Shields Road being approximately 2 miles to the east of Newcastle upon Tyne City Centre.
Immediately adjoining the premises is a relatively new retail discount store.
The property had the benefit of nearby Walker Metro Station giving access to all parts of Tyneside and lies within easy reach of the City Centre, A1(M) and A19.
Adjacent to the property is a large Lidl store with and Newcastle Shopping Park lies less than one mile to the west of the property, boasting national occupiers including Asda Superstore, B & M, Marks & Spencer and TK Maxx. Other occupiers include Carpet Right and DW Fitness.
DESCRIPTION
The subject property is shown on the attached plan having extensive frontage with pedestrian access to the rear and side.
The property comprises a three bay factory warehouse premises with ancillary office accommodation served by two roller shutter doors to the front elevation.
Internally the eaves high is approximately 23ft (7.01m), the unit is also served by five tonne craneage.
PRE APPLICATION PLANNING ADVICE
The property would be suitable for a number of uses subject to planning permission and a pre-application has been carried out with Newcastle City Council which confirms the principle of residential development within the area. A copy of the pre-application is available to interested purchasers.
ACCOMMODATION
The existing accommodation comprises:
Ground floor warehouse
2,623.6m²
(28,239.9ft²)
Ancillary offices
209.4m²
(2,253.9ft²)
Total
2,833.0m²
(30,493.8ft²)
SERVICES
We understand the property has the benefit of all main services, these being gas, water, electricity together with mains drainage.
TERMS
The property is available on the basis of a new lease subject to 5 yearly rent reviews. Rental offers are invited around £1.50ft²
Alternatively, our client may sell the property and freehold offers are invited.
RATING ASSESSMENT
Description
RV
Estimated Rates Payable
Warehouse and
£51,500
£24,256.50
Premises
We are advised that the rateable value of the premises as at 1 April 2010 is £51,500 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 :
- Warehouse For Sale or To Let
- Gross internal area 2,833m² (30,493.8ft²)
- Site area approx 3,455m² (37,189ft²) 0.8537 acres
- Pre planning application for residential development
- Adjacent to Lidl supermarket