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Location

The subject property is situated on Nelson Street adjacent to one of the entrances to the historic Grainger Market and opposite Red’s True BBQ, The Alchemist and Café Royal, which form part of Grey’s Quarter and Intu Eldon Square. These operators have their principal entrance off Nelson Street with associated outside seating areas.

There is an entrance into Grey’s Quarter and Intu Eldon Square at the western end of Nelson Street with Grainger Street the east, where the likes of Cath Kidston, End, Pretty Green, FCUK, Cote, L'Occitane and Urban Outfitters all represented. The property is also in close proximity to the northern end of Grey Street and Monument Mall where the likes of Byron, Banyan, Pret a Manger, Hugo Boss, Jack Wills and White Stuff are represented.

The property is Grade 1 Listed and comprises a ground floor retail unit with ancillary space in the basement which is ideal for staff, storage or for use as a preparation area.

Accommodation

The premises comprise the following approximate net internal floor areas:-

Demise Sq. ft. Sq. m.
Ground Floor 503 46.7
Basement Ancillary 281 26.1

Rent

Upon application.

Tenure

The premises are available on the basis of a new effective full repairing and insuring lease for a term to be agreed subject to five yearly upward only rent reviews.

Business Rates

We understand that the unit has a current Rateable Value assessment at £20,250 and a rates payable figure (2019-2020) of £9,942.75. Interested parties should satisfy themselves as to the rateable value and business rates payable by making their own enquiries with the Rates Department at Newcastle City Council.

As the Rateable Value is less than £51,000, the business rates 'Retail Discount' scheme may apply. Subject to eligibility, this could reduce the rates payable by one third between 2019-2020 and 2020-2021. For further information please refer to the link below.

https://www.gov.uk/government/publications/business-rates-retail-discount-guidance

EPC

Available on Request

Legal Costs

Each party to be responsible for their own legal and professional costs incurred in this transaction.

VAT

Unless otherwise stated, all prices/rents are quoted exclusive of VAT.