37-39 St Georges Terrace, Jesmond, Newcastle Upon Tyne, Newcastle Upon Tyne, NE2 2SX

Property Description

The property comprises a three-storey building of traditional brick construction under a pitched roof.
The ground floor benefits from a glazed frontage beneath Starbucks commercial signage/ branding.
Starbucks occupy the entire ground floor providing a large sales area with a barista station, kiosk and customer seating. To the rear, there is W/C and ancillary storage. The first and second floors are occupied by Marrime a luxury wedding dress retailer who have their own entrance located on the front façade of the property and a car parking bay at the side of the property.

Tenancy Summary
The property is let to Starbucks Coffee Company (UK) Limited on a 10-year internal repairing and insuring lease from 14 September 2015 until 13 September 2029 at a rent of £51,332 per annum

Marrime Limited occupy the upper floors on a 10-year internal repairing and insuring lease from 6 July 2023, expiring 5 July 2033 at a rent of £24,000 per annum

The combined total passing rent is £75,332 per annum.

The businesses do not form part of the sale and will remain unaffected by the proposed sale of the property. Further information including leases, title documents and EPC is available upon request.

EPC
The property has an Energy Performance Certificate rating of B47.

VAT
All figures quoted are exclusive of VAT, where applicable.

Legal Costs
Each party is to be responsible for its own legal costs incurred in connection with the transaction.

St George’s Terrace is ideally located within Jesmond, providing excellent public transport connectivity and convenient access to Newcastle city centre.
West Jesmond Metro Station is approximately a three-minute walk from the property, providing direct access to Newcastle Central Station and the wider Tyne and Wear Metro network.