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singer vielle sales.com McDonald’s, 6464----7070 Northumberland Street, Newcastle NE1 7DF Prime Newcastle Retail / A5 Investment Opportunity Newcastle is a top 5 UK City 24 years unexpired lease to McDonald’s Restaurants Limited McDonald’s Restaurants Limited – SF £971 million Lease extension in 2014 at existing rent The tenant has been in occupation since 1987 5.0% net initial yield £7,140,000, subject to contract www.singerviellesales.com Location Newcastle-Upon-Tyne is the economic and cultural capital for the North East of England. The city is situated approximately 160 km (100 miles) north of Leeds, 136 km (137 miles) north of York and 168 km (105 miles) south of Edinburgh. Newcastle city centre is easily accessible from the regional road network with arterial dual carriageways providing direct access to the A1 (Motorway) and the A19 which give access to the wider region. Newcastle Central Station is a major transport hub and key destination on the East Coast railway line. East Coast trains provide direct services to London Kings Cross with a fastest journey time of 2 hours and 37 minutes and Edinburgh Waverley in 1 hour and 25 minutes. Regional railways connect Newcastle to its neighbouring conurbations including Carlisle, Durham, Hartlepool, Middlesbrough and Sunderland. In addition to the overground rail infrastructure, Newcastle is the only other City than London to benefit from an underground rail network. The Metro is run by Nexus and comprises of 60 stations. Newcastle International Airport is situated 11 km (7 miles) to the north west of the city centre. Serving in excess of 4.5 million passengers annually providing air travel to 74 direct destinations Newcastle International Airport is the largest regional airport generating thousands of jobs for the region. Newcastle City Centre The City has and continues to benefit from considerable inward investment enhancing its position as an expanding and vibrant regional capital. Newcastle is the principal retail centre in the North East of England, focussed around Northumberland Street and the Intu Eldon Square Shopping Centre, which is described below in further detail. The success of the Eldon Square expansion together with Hammerson’s refurbishment of Monument Mall from 36 to 12 new shops and restaurants to occupiers including Hugo Boss, Jack Wills, Jamie’s Italian, Kiehls, The White Company and Rox have strengthened Newcastle’s grip on the North East’s retail economy. In addition, the Intu MetroCentre, one of Europe’s largest out of town shopping centres, is located 7.2 km (4.5 miles) south west of the city centre in Gateshead. The City has two leading universities; Newcastle University accommodates in the region of 20,000 students and offers approximately 200 courses. The University is one of the country’s top 20 research institutions and a member of the Russell Group. Northumbria University has approximately 33,000 students and has expanded its extensive city centre campus through a multi-million pound investment. For further information please visit http://www.ncl.ac.uk and www.northumbria.ac.uk . The Stephenson Quarter is a significant mixed use development adjacent to Newcastle’s Central Station. The first phase has recently been completed and is anchored by a brand new seven-storey 251 bedroom Crowne Plaza hotel which includes a spa and wellbeing centre, restaurant, banqueting suite, bar and conferencing facilities. In addition, there will be a 3,251 sq m (35,000 sq ft) Grade A office building known as “The Rocket”, plus “The Boiler Shop”, a refurbished listed building designed to provide studio office accommodation as well as host concerts, cultural event and festivals. Completing Phase 1 will also be a 380 space multi storey car park. For further information please visit www.stephensonquarter.com . Newcastle Central Station has undergone a major multi million pound redevelopment including both the Station and the surrounding area. Amongst the improvements there is a new ticket office, travel centre, new internal retail units and amenities as well as a reconfiguration of the circulation space to underline the Grade 1 characteristics of the building. The redevelopment also includes various external improvements; alterations to the traffic flow to improve congestion, a new taxi rank, new cycle lanes and widened public footpaths as well as pavement café’s. For further information please visit www.nationalrail.co.uk . The former Network Rail office building on Forth Banks has been redeveloped for Northumbria Police Authority as part of a £36 million project. The new station, open 24 hours a day, is a base for in excess of 600 police officers and staff. For further information please visit www.northumbria.police.uk A new Hampton by Hilton hotel opened earlier this year comprising a contemporary 160 bedroom complex opposite Newcastle Central Station. Based within the former Baron House, work on the hotel was carried out by Metnor Construction which was also part of the Sleeperz Hotel development on Westgate Street for which it won a RIBA Design award, amongst other Newcastle hotels. The 8 storey building is managed by Interstate Hotels and Resorts on behalf of Baron Hotel Limited and is the first Hampton by Hilton hotel in Newcastle. For further information please visit http://www.hilton.com/newcastle and http://www.sleeperz.com/newcastle Situation The subject property occupies a 100% prime retail location on the fully pedestrianised Northumberland Street. Benefitting fro m an extremely high footfall Northumberland Street is firmly established as the prime retail pitch within Newcastle City Centre along with Intu Eldon Square Shopping Centre, with the subject property being diagonally opposite the main entrance. On either side of the property is BHS and Curry’s / PC World. Other surrounding retailers include Primark, Marks & Spencer, JD Sports, Superdrug and H&M. Intu Eldon Square is the city’s principal shopping centre and comprises some 125,420 sq m (1,350,000 sq ft) of retail, catering and leisure space over 140 units. Key retailers include Fenwick, Marks & Spencer, John Lewis, Waitrose, River Island, Boots and Next. The scheme has experienced significant investment with the opening of a 41,806 sq m (450,000 sq ft) extension anchored by a Debenhams department store. The owners are currently carrying out a refurbishment of the remainder of the centre which includes the new Grey’s Quarter restaurant development due to open in 2016. For further information please visit www.intu.co.uk/eldonsquare . Description Accommodation 64/70 Northumberland Street is an attractive mid terrace four storey period The property provides the following Net Internal floor areas: building of brick elevation beneath a flat roof. Fitted out to an exceptionally high standard the premises comprise a large rectangular ground floor retail / restaurant unit providing seating to the front and Gross Frontage 32.25 Ft 9.83 M down both sides of the restaurant with the ordering / service counter and kitchen area located to the rear. There is additional seating and ancillary accommodation Net Frontage 26.25 Ft 8.00 M in the basement. There is an area for deliveries and loading and unloading at the Sq Ft Sq M back of the property on North Street. Ground Floor Zone A 453 42.08 Zone B 490 45.52 The upper parts are self-contained with their own entrance directly from Zone C 607 56.39 Northumberland Street and comprise three floors of good quality Zone D 563 52.30 accommodation split by a central core. Each floor comprises a front and rear suite which are part occupied by McDonald’s for administrative and training ITZA 1,187 purposes and part sub-underlet. Remainder 4,276 397.24 Total Ground Floor 6,389 593 .55 The McDonald’s brand is symbolised by its golden arches logo on the exterior of the property whilst internally the property has been fitted out by the tenant to Basement Seating / Ancillary 1, 529 142.04 a very high standard in the style of their latest corporate image. The restaurant First Floor Ancillary 1, 281 119.00 operates 24 hours a day, 7 days a week. First Floor Front Office 897 83.33 Rear Office 887 82.40 Second Floor Front Office 877 81.47 Rear Office 921 85.56 Third Floor Front Office 946 87.88 Rear Office 832 77.29 TOTAL 14,559 1,31,31,3 525252 ...575757 The property has been measured by BKR Floor Plans. A full set of floor plans is available to download and the measured survey report is available for assignment to a purchaser. Planning Tenancy The subject property benefits from permission for use of the whole premises as a restaurant for the purposes of eat in and takeaway or as a shop within class A1 of the Use Classes Order or; (a) the ground floor and basement for any other McDonald’s have been in ooccupationccupation of the property sincesince 1919198719 87 i.e. 28 yyyeyeeeaaaarrrrssss.... use within classes A1, A2, A3, A5 of the Use Classes Order, and (b) the upper IIInInnn MMMaMaaarrrrcccchhhh 2220200011114444 ttththhheeee ttteteeennnnaaaannnntttt eeenennntttteeeerrrreeeedddd iiininnnttttoooo aaa rrrereeevvvveeeerrrrssssiiiioooonnnnaaaarrrryyyy llleleeeaaaasssseeee ooovovvveeeerrrr ttththhheeee eeenennnttttiiiirrrreeee floors as offices. ppprprrrooooppppeeeerrrrttttyyyy fffofooorrrr aaa fffufuuurrrrtttthhhheeeerrrr 22262666 yyyeyeeeaaaarrrrssss aaatattt ttththhheeee sssasaaammmmeeee pppapaaassssssiiiinnnngggg rrrereeennnntttt aaasasss uuununnnddddeeeerrrr ttththhheeee ppprprrreeeevvvviiiioooouuuussss llleleeeaaaasssseeee dddedeeemmmmoooonnnnssssttttrrrraaaattttiiiinnnngggg ttththhheeeeiiiirrrr lllolooonnnngggg ttteteeerrrrmmmm cccocooommmmmmiiiittttmmmmeeeennnntttt tttotooo ttththhhiiiissss ppprprrrooooppppeeeerrrrttttyyyy.... MMMcMcccDDDDoooonnnnaaaalllldddd’’’’ssss was grangrantedted a rent free period equating to 17 monthsmonths.... Tenure The property is sub-let to McDonald’s Restaurants LimitedLimited (Co. No. 1002769) The interest for sale is a long leasehold from the Official Custodian for Charities, on behalf of the Trustees of the Church Estate, on a 125 year Full Repairing on a Full Repairing and Insuring lease for a term of 26 years from and including and Insuring lease from 25th March 1979, expiring 24th March 2104.