TO LET - LAST REMAINING UNIT 389 SQ M (4,187 SQ FT) Plus Storage
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NEWCASTLE UPON TYNE CITY CENTRE RETAIL/ LEISURE OPPORTUNITY TO LET - LAST REMAINING UNIT 389 SQ M (4,187 SQ FT) Plus Storage UNIT 2A NEWGATE STREET NEWCASTLE UPON TYNE NE1 5RE INSIDER NORTH EAST PROPERTY AWARDS COMMERCIAL DEVELOPMENT OF THE YEAR 2019 10 SITUATION 13 10 23 25 14 18 8 5 4 9 22 7 3 2 16 26 15 21 1 12 17 11 19 6 24 20 1 The Property 14 Science Central 2 The Gate 15 Grainger Market 3 St Andrews Way, Intu Eldon Square 16 Showcase Cinema 4 Intu Eldon Square Shopping Centre 17 Indigo Hotel 18 St James’ Park Metro Station 5 Northumberland Street 19 Bigg Market 6 Grey Street 20 Central Station 7 Fenwick Department Store (East Coast Mainline & Metro) 8 M & S 21 Monument Metro Station 9 John Lewis 22 Newgate Co-op Building & Premier Inn 10 Newcastle University 23 Sandman Hotel 11 Motel One Hotel 24 County Hotel 12 Everyman Cinema 25 Haymarket Bus / Metro Station 13 St James’ Park 26 Blackfriars / China Town NEWCASTLE UNIVERSITY LIBRARY ROAD CASTLE LEAZES RD GREAT NORTH FO MUSEUM: HANCOCK SANDY RICHAR D A O NEWCASTLE R REET D D GALLERY RWICK ST SON A UNIVERSITY WA RI OA NORTH R R O OA T C TH I D V OR N N E T LACE E RY’S P MA U EA ST NORTHUMBRIA ST R Q T G UNIVERSITY HOMAS’ 8 Haymarket NEWCASTLE 1 S 3 NEWCASTLE S TRE 1 CITY CAMPUS T ET B CITY HALL O LEAZES PARK DD A L R EA T S ZE B TREE A R RS R A T T C ERRACE K A167(M) RO A NORTH EAST Haymarket D A167M ST. JAMES’ PARK ART COLLECTIVE NORTHUMBERLAND ST A1 89 T JOHN DOBSON S E LOCATION C CY S PLA Y ER P BERR W OLD ELDON P I A193 W TRA L B S SQUARE G ELLING AR Unit 2A comprises part of a landmark development in the RA ST JAMES’ PARK BLACKETT R C ST I Manors K St James M RO INTU ELDON SQUARE T heart of Newcastle City Centre. The location is very accessible A T D SHOPPING CENTRE S A167(M) TO E Monument T R N N by public transport with both Newcastle Central Station and RE EL E T SO E WS CHINATOWN ST N T T T BLACKETT STREET EE EL RE St James S Metro Stations within 5 minutes’ walk, whilst Newgate Street is E E T Monument LINGT T E TR E G T A R LL E T O AT GA GRAINGER G WG S one of the main bus routes through the city. ON S GREY’S R T W E MARKET E S T CHINA E MONUMENT Y A T N DIANA S TOWN T S TR G THE GATE CITY CENTRE RETAIL/ E S A167M ELL ARK T To the immediate West of the site is The Gate Leisure complex, EE T W M MANORS SCIENCE W E R T THEATREE O EE N LEISURE OPPORTUNITY Manors CENTRAL ROYAL E home to a 12 screen Empire Cinema in addition to a variety of TR ST P T THE CITY CENTRE RETAIL/ E IL GATE G G D LEISURE OPPORTUNITY D R restaurants including, Nando’s and TGI Friday plus several late G I I R T M D S R R A CORPORATION ST V EB S V N T night bars and an Aspers Casino. E Y O H W BL STOWELL S 55 E L T B ST IG G S G ’ YT AT U I DEGREES E ROAD EE G T O LA M H R NORTH W ES TR E ES B C A TGA R E T ’ K E R M BIGG MARKET T Newcastle’s historic Bigg Market has recently been refurbished OAD S ET E ON S JA M YT HOTEL MALMAISON DEAN ST 6 T offering al fresco eating and drinking. A W J E 18 S S INDIGO SUMMERHILL TGA O2 ACADEMYCLA A T TE R PITCHER PARK S OADNEWCASTLE GRAINGER ST & PIANO St James’ Park Football Stadium, a 52,000 seat capacity ST NICHOLAS’ ST S LAW COURTS THE BALTIC T Premier League Venue, and the City’s Business District are T CENTRE FOR NI S COLLINGWOOD ST A186 CONTEMPORARY W W SIDEC O E E MILLENNIUM S S HO E ART located nearby to the North West. TGA T D O ET G I BRIDGE L E S A186 TR TE R A L Y R S T T A ILLE REE D E AS U DISCOVERY E NEV ST R Q T LLE Central O ’ EVI AD YSIDE Also, in immediate proximity is the Debenhams entrance A N NEWCASTLEST RIVER TYNE MUSEUM W QUA WESTM NEWCASTLE CASTLENEWCASTLE to Intu Eldon Square; Newcastle’s premier shopping ORLAND ROAD NEWCASTLE CENTRAL CASTLE LL TYNE Central Station I BRIDGE centre, providing 1.6 million sq ft of retail accommodation. DH CITY MARINA N CENTRE A SAGE S SWING TYNE GATESHEAD FOR LIFE BRIDGE TIMES ST Other nearby retail occupiers and landmarks include: RIVERSIDE SQUARE TH B R NEWCASTLE R FO ID GE HIGH LEVEL BRIDGE THE HILTON A167M E S NEWCASTLE O L GATESHEAD C FORTH BANKS ©Tony Hall DEMOGRAPHICS Newcastle City Centre is a regional retail destination for the North East of England and pulls from a wide geographical area. The nearest competing centres are Edinburgh some 100 miles to the North and Leeds the same distance to the south. 2.2M people live within a 45 minute drive time. This catchment has a total retail spend of £8bn. Northumberland Street The city centre is dominated by Intu’s Eldon Square Shopping Centre comprising 150 shops and restaurants in 1.35M sq ft. Intu have spent in excess of £240M in the past 10 years extending, refurbishing and refreshing the scheme. Grey’s Food Quarter was created circa 3 years ago with Intu spending £25million. St Andrew’s Way anchored by Debenhams at the Newgate Street end of the scheme is now recognised to be Newcastle’s prime retail pitch. Marks & Spencer, Fenwicks, John Lewis and Debenhams all have major department stores in the City Centre and all linked into Eldon Square. 34M shoppers visit Eldon Square alone annually, one of the highest footfall counts for a UK Shopping Centre and Trevor Wood has recently ranked Eldon Square as 15th in the UK hierarchy of schemes. Fenwick, Northumberland Street ©Tony Hall St Andrew’s Way Newgate Street THE MASTERPLAN McAleer & Rushe have demolished the former 1960’ shopping centre which was accompanied with the Newgate Hotel and have recently completed the new development on a circa 2 acre site creating an award winning development within the heart of the city centre. The landmark scheme includes a 575 purpose built student rooms operated by Unite Group. The subject opportunity sits directly underneath the student accommodation. A 265 bed Maldron Hotel has also been developed on the upper parts within the same scheme with both operations benefitting greatly from good occupancy levels from the outset. THE PROPERTY Unit 2A provides a spacious retail/leisure opportunity comprising circa 4,187 sq ft at ground floor level which is serviced via BOH area at basement level providing ancillary storage, refuse and delivery access along with secure car parking. We understand that all mains service are connected to the property however interested parties should make their own investigations with regard to this matter. The retail unit is in shell specification ready for a suitable operator to carry out proposed fit out works. TERMS Expressions of interest are invited for Unit 2A with terms to be agreed on an effective full repairing and insuring basis subject to contract. RENT Ground Floor £75,000pa = £17.50 sq ft Basement £8,035pa = £5.00 sq ft PLANNING Consent has been granted for retail and/or leisure uses (Use class A1, A2 and/or A3) under application 2014/0568/01/DET and 2017/1227/01/DET. Newgate Street ENERGY PERFORMANCE CERTIFICATE The property currently has an Energy Performance Asset Rating of Band B (26). A full copy of the EPC is available upon request if required. Landlord will update the EPC once Tenant works have been undertaken. BUSINESS RATES The Rateable Value is estimated at £72,500 however may be subject to change once the unit has been assessed by the Valuation Office Agency. VAT All rents quoted are deemed exclusive of VAT where chargeable. LEGAL COSTS Each party is to be responsible for their own legal costs incurred throughout any transaction. FLOOR PLANS Ground Floor Basement NEWGATE STREET NEWGATE STREET ACCOMMODATION UNIT SQ M SQ FT Unit 2A - Ground 389.00 4,187 Unit 2A - Basement 68.34 736 Unit B - Ground UNDER OFFER Unit A Unit B - Basement 80.89 871 Unit A Unit B Basement TOTAL 538.23 5,794 Storage UNDER Unit B OFFER Basement Storage Not to scale. For identification purposes only. CONTACT A development by: Mark Convery Ian Angus Direct: 0191 269 0103 Direct: 0191 280 4235 Mobile: 07525 872141 Mobile: 07960 466211 [email protected] [email protected] MRP Full Colour Version IMPORTANT NOTICE: Every reasonable effort has been made to ensure accuracy and to check the facts contained in these particulars are complete. Interested parties are strongly advised to take appropriate steps to verify by independent inspection or enquiry all information for themselves and to take appropriate professional advice. (i) No description or information given about the site or its value, whether written or verbal or whether or not in these particulars (‘information’) may be relied upon as a statement of representation or fact.