Location
These properties form part of an imposing terrace overlooking the main transport exchange, in the heart of the town centre.
The immediate area offers predominantly commercial and office accommodation with on street metered parking. There are student halls above the nearby Trinity Square shopping centre which provide rooms for Northumbria University students and Newcastle City centre is a 15 minute walk away via the High Level Bridge. There are regular bus departures from the neighbouring Transport Exchange and the Metro system links Gateshead with Sunderland, the airport and the coast.
Description
The investment comprises two adjacent mid-terrace Grade 2 listed buildings of traditional brick construction and with pitched slate roofs over.
Accommodation
11 Walker Terrace
GIA is 323 sq.m. (3,475 sq.ft.) and the space is configured to provide educational, pupil and staff facilities over 4 storeys. There is a large, enclosed yard which is used by the pupils and for parking.
13 Walker Terrace
GIA is 278 sq.m. (2,990 sq.ft.) and the space is configured to provide educational, pupil and staff facilities over 3 storeys. There is a large, enclosed yard which is used by the pupils.
Occupational Leases
11 Walker Terrace Let to The Cedars Academy Trust by way of a 10 year FRI lease from 16th December 2021. Current rent £23,500 per annum increasing to £25,000 per annum in December 2024. There is a final rent review in December 2026 but no break clauses.
13 Walker Terrace Let to The Cedars Academy Trust by way of a 10 year FRI lease from 30th September 2016. The current passing rent is £25,000 per annum and there are no break clauses.
EPC Rating
Rating D
Services
There is water, electricity and gas to each property.
Business Rates
11 Walker Terrace RV £24,500
13 Walker Terrace RV £18,750
Tenure
We are informed that the properties are held on Freehold titles. Interested parties should seek legal confirmation of the title.
Money Laundering Regulations
In accordance with the current Anti-Money Laundering Regulations, the Purchaser will be required to provide two forms of identification and proof of the income source.
Viewing
Strictly by appointment with this office.
