The property fronts onto The Close / Sandhill which runs along the Newcastle Quayside area, directly opposite the Swing Bridge and close to the Tyne Bridge and High Level Bridge.
The quayside is a popular location for bars and nightclubs with significant investment in the surrounding occupiers already taking place. The Waterside Hotel (Jimmyz Bar), Former Offshore 44 Premises and Chase Bar have recently been purchased and are undergoing transformations to provide bar / restaurant facilities.
The opportunity comprises a ground and first floor former nightclub forming part of a four storey semi detached property which would suit a potential bar/restaurant/nightclub occupier.
The property has been measured in accordance with the RICS Code of Measuring Practice and has the following Gross Internal Areas (GIA):
Ground Floor 1,017 sq.ft. (94.5 sq.m)
First Floor 1,378 sq.ft. (128 sq.m)
The premises are offered to let by way of a new full repairing and insuring lease for a minimum term of 10 years. Asking rent is £60,000 per annum.
Each Party will be responsible for their own legal costs.
All figures are net of VAT, where applicable.
We understand the ground and first floors have permission for use as Sui Generis (Nightclub) under the Town & Country Planning (Use Classes) order 1987 (as amended). For confirmation and further enquires please contact the local council’s planning department
We are advised that the property is currently entered into the Valuation List as follows;
Rateable Value: tbc
PM Commercial Property Consultants
Tel: 07984 302 525