Nelson Street, Newcastle upon Tyne, Tyne and Wear, NE1

LOCATION

The property is prominently located on Nelson Street in the heart of Newcastle city centre, immediately adjacent to one of the main entrances into the iconic Grainger Market. This prime retail location benefits from high pedestrian footfall and is home to a vibrant mix of independent traders and national operators, including Black Sheep Coffee and Mowgli Street Food. It is also within close proximity to intu Eldon Square, Grey Street, and a wide range of cafes, restaurants, and high street retailers. Nelson Street is fully pedestrianised, providing an attractive trading environment. Nearby parking is available on Nun Street, with larger multi-storey car parks at The Gate, Eldon Square, and Eldon Garden all within a short walking distance. The area is extremely well-connected by public transport, with Monument Metro Station and numerous bus services located just a few minutes' walk away, offering convenient access for both shoppers and employees.

DESCRIPTION

The property is a Grade II Listed mid-terraced unit with a stone-built façade. The property has single glazed aluminium framed windows, and recessed pedestrian access. Internally, the property is arranged over ground floor with an open plan retail space, w.c. and kitchen facilities. The unit is presented in a shell condition to allow for a range of uses for a tenant fit out. Please note that there is no extraction system currently fitted. Hot food uses will need to investigate the viability of installation.

ACCOMMODATION

We have measured the property as providing a net internal floor area of 87.68 sq m (944 sq ft).

LEASE TERMS

The accommodation is available to let on a fully repairing and insuring basis for a term of years to be agreed.

RENT

The accommodation is available to let at a rent of £50,000 per annum, exclusive of business rates and payable quarterly in advance.

VAT

The property is registered for VAT therefore VAT is payable on the rent.

RATEABLE VALUE

The property is entered into the 2023 Rating List with a rateable value of £32,250. Interested parties should make enquiries direct with the Local Authority to establish the actual rates payable

LEGAL COSTS

Each party are to bear their own legal costs in connection with the preparation and execution of the lease.

VIEWING

Strictly by appointment with sole agents, youngsRPS. Stephanie Dixon – Tel: e-mail: Stephanie. All figures quoted are exclusive of VAT where chargeable.

LOCAL AUTHORITY

Newcastle City Council, Civic Centre, Barras Bridge, Newcastle upon Tyne, (Tel: ). ENERGY PERFORMANCE CERTIFICATE The property has an EPC rating of C-55. A copy of the Energy Performance Certificate and Recommendation Report is available on request.