The property is a ground floor only unit comprising a large sales area and customer toilets. Tenure The premises are available by way of an assignment of the existing lease expiring 15/05/2033. There is a tenant break option on 15/05/2023. Alternatively, the premises are available by way of a sub-lease until 15/05/2023. Rent The current passing rent is £60,000, exclusive of all other outgoings. Rates We are verbally informed by the Local Rating Authority that the current Rateable Value of the shop is £47,750.00 and the rates payable are £23,445.25 pa. The UBR for 2019/2020 is 49.10p. Interested parties are advised to make their own enquiries with the Local Authority for verification purposesLess
The property is located on the pedestrianised Nelson Street in Newcastle city centre. The unit is directly adjacent to Grainger Market entrance, thus benefitting from a return frontage. The market houses numerous local traders and businesses. Opposite the store is an entrance to the Eldon Square Shopping Centre which boasts annual footfall of 37 million. In Addition, there are numerous high quality leisure occupiers in the immediate vicinity, with The Alchemist and Reds BBQ being directly opposite. National retailers in the vicinity include End Men’s Wear, Coral and Ladbrokes.