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Under offer

Investment Opportunity

Newcastle City Centre Offers over £130,000 Freehold REF: NE1712

Location

This investment is located on Clayton Street which is in the heart of Grainger Town, forming part of the City centre.  Clayton Street runs south from Newgate Street and Eldon Square shopping centre towards Westgate Road and the railway station.

The immediate area has seen significant development over the last few years and Hotel Indigo lies directly behind the subject property with additional hotel and student space at the northern end of the street. Nearby occupiers include HERON Foods, B&M and numerous independents.  Clayton Street is a busy bus route and there is metered on street parking nearby.

Description

This opportunity comprises a self-contained 5 storey property which forms part of a larger imposing terrace.

Accommodation

The property has been measured in accordance with the Code of Measuring Practice and reported on a Gross Internal Area basis as follows:

Basement                    circa 250 sq.ft. (23 sq.m).

Ground Floor               circa 250 sq.ft. (23 sq.m).

First Floor                    circa 195 sq.ft. (18 sq.m).

Second Floor               circa 130 sq.ft. (12 sq.m).

W.C.

Third Floor                   circa 170 sq.ft. (16 sq.m).

Occupational Lease

The property is occupied by way of a 10 year lease dated from July 2015 at a current rent of £10,000 per annum. There is an outstanding rent review from 2020 but no break clauses.

Interested parties should seek legal confirmation of this.

EPC

Rating – E

Services

Water, electric and sewerage are installed and the property is in good order throughout. 

Rates:

The premises are assessed as follows:

RATEABLE VALUE    £9,600

Rates free incentives are available subject to status.

Viewing

Strictly by appointment with this office.

Tenure

We are verbally informed that the premises are Freehold. Interested parties should seek legal confirmation of this.

Money Laundering Regulations

In accordance with the current Anti-Money Laundering Regulations the Purchaser or Tenant will be required to provide two forms of identification and proof of the source of income.

 

 

 

If you'd like to know more about how we work, give us a call on 0191 487 8566, always happy to help.

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