Location
Morpeth is a market town in central Northumberland 14 miles north of Newcastle upon Tyne and accessible by road via the A1 and by rail via the East Coast mainline.
The town has a resident population of circa 13,500 with a retail and leisure catchment area of over 50,000 heads within the Castle Morpeth district.
The property is located on the west side of Newmarket which runs off the main shopping area on Newgate Street down towards the Riverside Leisure Centre. There are two car parks adjacent to the subject property and parking is free for up to 2 hours via a disc.
Description
The opportunity comprises an extensive open plan first floor space within a spacious three storey property. The ground floor is occupied by JD Wetherspoon Limited, trading as The Electrical Wizard.
The premises would be suitable for a variety of uses subject to landlord’s consent.
Accommodation;
Ground Floor
Entrance Lobby circa 435 sq.ft. (40 sq.m.)
First Floor
Former Nightclub circa 6,200 sq.ft. (577 sq.m.)
Gents Toilets
Ladies Toilets
Services
Electricity, Water and Gas are installed.
EPC
Rating - TBC
Rates
The premises are assessed as follows:
Rateable Value £11,000
Rates free incentives subject to status.
Tenure
A new full repairing and insuring lease is available at a commencing rent of £36,000 per annum. Full terms to be agreed but the minimum term will be 3 years.
Legal Costs
The ingoing tenant will be responsible for the landlord’s legal costs in the preparation of the new lease.
Money Laundering Regulations
In accordance with the current Anti-Money Laundering Regulations the Purchaser/Tenant will be required to provide two forms of identification and proof of the source of income.
