Whitby Crescent, Longbenton, Newcastle upon Tyne

Material Information -

Location - The property which is located in the Four Lane Ends area of Newcastle Upon Tyne lies adjacent to Four Lane Ends Transport Interchange which provides excellent public transport connections via the Tyne and Wear Metro system and local buses to other parts of the Tyne and Wear area.

Description - The property comprises a former Social Club which provides cellular accommodation over two floors. To the ground floor there is a large concert room, main bar with seating area together with toilets, stores and ancillary rooms. To the first floor there is living accommodation together with additional toilets and stores / offices. Externally there is a car park to the properties south eastern gable elevation.

The property is in need of some repairs and updating.

Restrictive Covenant - We are informed that there is a restrictive covenant in favour of North Tyneside Council which prevents the use of the property may only be used for the following permitted uses:

•E (e) or the provision of medical or health services.

•E (g) (ii) for research and development of products or processes

Rating Liability - The property is not presently assessed for Business Rates.

Planning - The property has planning permission for use as an office and lab research facility which meets Biosafety Level 2 safety requirements. The permission was granted in July 2023. The planning application reference is 23/01037/FUL.

Interested parties can obtain further information on the existing permission via the public planning portal website at North Tyneside Council.

Tenure - We understand that the property is freehold with no onerous or restrictive covenants.

Price - The freehold interest in the property is available for offers over £300,000.

Legal Costs - Each party will be responsible for their costs in the transaction.

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

Vat - All prices quoted are exclusive of VAT at the prevailing rate