Location
The property fronts onto Sandhill which runs along the Newcastle Quayside between the Swing Bridge and Tyne Bridge.
The Quayside is a popular location for bars and nightclubs with significant investment in surrounding units also taking place. The subject property is close to the busy Tiger Hornsby bar and live music venue and also to the award winning House of Tides restaurant.
Description
The opportunity comprises an extensive mid terraced four storey which is Grade 2 listed. The property dates back to the 18th Century and forms part of an historic section of the Quayside.
The building would lend itself to a variety of uses and has operated as a restaurant in the past.
Accommodation;
Ground Floor 105 sq.m. (1,130 sq.ft.)
First Floor 100 sq.m. (1,076 sq.ft.)
Second Floor 100 sq.m. (1,076 sq.ft.)
Third Floor 100 sq.m. (1,076 sq.ft.)
Attic 40 sq.m. (430 sq.ft.)
External
There is a terraced outdoor space which could be incorporated into the layout.
Services
Electricity, Gas and Water are installed to the site.
Rates
The premises are assessed as follows:
Rateable Value £19,500
Tenure
A new FRI lease is available at a commencing rent of £40,000 per annum, rising to £45,000 per annum after 12 months. The landlord would be willing to offer incentives that reflected the proposed use and any schedule of works.
The ingoing tenant will be responsible for the landlord’s legal fees in the preparation of the new lease.
EPC
Rating – not applicable.
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.
