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EARL GREY HOUSE 77-85 Grey Street Newcastle Upon Tyne NE1 6EF

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EARL GREY HOUSE 77-85 Grey Street Newcastle Upon Tyne NE1 6EF EARL GREY HOUSE 77-85 Grey Street Newcastle upon Tyne NE1 6EF FOR SALE - Prime Mixed Use Office Retailand Leisure Investment EARL GREY HOUSE Grey Street is said to be the most beautiful street in England. EARL GREY HOUSE Investment Summary • Prime multi-let office, leisure and retail opportunity extending to 58,853 sq ft • Landmark Grade II / Grade II* Listed Building – hence no empty rates • Freehold • Well let to a host of well-known covenants such as Costa Coffee, Rathbone Brothers Plc, Grant Thornton, Handlesbanken and Nationwide • Total income of £956,639 per annum with a WAULT to breaks of 13.86 years and to lease expiry of 15.73 years • Offers in excess of £12,055,000 which represents an initial yield of 7.50% and a reversionary yield of 9.19% and a capital value per ft2 of £204 Harry’s Bar & Brasserie EARL GREY HOUSE Scotland Glasgow Edinburgh Newcastle Sunderland Carlisle Leeds Manchester Millennium Bridge, Quayside Liverpool Nottingham Birmingham Wales England Newcastle upon Tyne Cardiff London Bristol Newcastle upon Tyne is the regional capital and principle focus of economic activity within the North East of England. With a population of 280,177 people the City Newcastle has attracted many high Newcastle plays host to two leading universities their expertise around the world. The initiative is located 270 miles north of London and 105 profile occupiers with global, national and attracting over 50,000 students from more is driving development within the City Centre miles south of Edinburgh. regional occupiers in the area, many of which than 125 countries combined. The University of with a main focus on Science Central – a new have expanded or upgraded their existing Newcastle features in the top 20 of the majority landmark urban quarter for science, business, Newcastle is the largest employment centre in space. Companies include Barclays Bank Plc, of the UK rankings and is currently number 10 living and leisure. Tyne & Wear with 166,011 employees at 2011. PWC, Sage Group, Virgin Money and in the UK for overall student satisfaction. It is Newcastle has a demographic profile which is Procter & Gamble. a member of the Russell Group (an elite group Newcastle’s retail offerings serve as the attractive to the service sector being skewed of 24 of the country’s most highly regarded primary retail destination for over 600,000 towards younger and more highly educated The City is home to a wide range of important universities) and is ranked number one in this people making it the dominant retail centre workers. The service sector accounts for nearly public sector functions with not only local group for Graduate Employment. Northumbria in the North East. There is approximately 2.6 90% of employment in the City. The Financial and regional government operations, but University is located within a modern city centre million ft² of retail floorspace ranking the City & Business Services sector accounted for 25% national government departments based in the campus with an outstanding reputation as the sixth out of the 100 PROMIS Centres. of jobs at this level showing the strength of the area. The most significant are HM Revenue & largest university in the North East. The prime area is centred around Eldon Square office economy and office demand. Customs and the Department for Work Shopping Centre and Northumberland Street & Pensions. The importance of the contribution of the and is home to a number of national retailers The office market has been central to the universities to the City was recognised in 2005 including John Lewis, Marks & Spencer, growth of Newcastle as a City and since the Newcastle has historically had a high reliance when Newcastle was designated as one of six Fenwicks and Debenhams. In addition, the regeneration of the Quayside in the early on these public sector operations, but despite UK Science Cities following the world-class MetroCentre, one of the UK’s largest out of 1990’s, the market has continued to grow the recent financial crisis, and cut back in research undertaken by the universities and town shopping centres, is within 15 minutes’ and mature leading to increasingly high quality public services, the City Centre has continued to the potential of its science industry base. drive time. developments similar to those in competing attract new private sector companies including The Science City initiative aims to maximise the regional centres such as Leeds and Manchester. BSkyB, DAC Beachcroft Solicitors and Qubic Tax. City’s specific potential and raise awareness of EARL GREY HOUSE Current Inward Investment Science Central As part of Newcastle Science City (a partnership between Newcastle University and Newcastle City Council), Science Central will be a new urban quarter central to Newcastle’s economic future and a hub for the scientific growth of the City. The development will be located on the outskirts of the CBD on the site of the former Scottish & Newcastle Brewery. The masterplan includes a world class research facility as well as office and residential accommodation, retail offerings and a wealth of new landscaped public realm. In excess of £30 million of public funding has been secured to develop the initial phases of the site and it is expected that the benefits to the City’s economy will be vast in attracting innovative businesses as well as start-up companies and mobile businesses. Northumbria Police Headquarters Northumbria Police Authority has recently refurbished the former Network Rail office adjacent to Central Station to create a new £37 million state of the art Policing facility. The project has provided significant regeneration utilising two existing buildings which now connect together via a new build Earl Grey House Reception element. The new Headquarters has replaced their former Market Street location. Central Station East Coast and Network Rail have announced plans for a major transformation of Newcastle’s Central Station. The Grade I listed station has seen its iconic portico pedestrianized and glazed to create a new public space to house new retail and catering choices. Commercial space has doubled and will enhance the existing retail and leisure provisions at the station. The £8.6 million project demonstrates the importance of Newcastle’s Central Station as a gateway to the City and a major transport hub for the North East and the national rail network with 67 East Coast trains serving the station each week day. EARL GREY EARL HOUSE NORTHUMBERLAND S GREY JOHN DOBSON S T CY S HOUSE ER P BA RR AC K St James’ Park Eldon Square RO T A Shopping Centre D T T EE W BLACKETT STREET EL TR LINGT G A E LLOWGAT Grey’s ON S Monument T T S DIANA S T E TR Citygate MARK A167M EE EE Science G Theatre Royal P TR Central T R I E L G Y D R R S I A T M V CORPORATION ST R ST E E L T STOWELL S E U EE T O TR W B E STGA ’ TE ROAD S E ON S NEWCASTLE M YT A CITY CENTRE J DEAN ST CLA T S WE ST GRAINGER ST GAT E ROAD A167M COLLINGWOOD ST Law Courts MILLENNIUM BRIDGE T REE ST LLE EVI The Baltic Centre N YSIDE for Contemporary Art W QUA ESTMO RLAND ROAD Central Station TYNE The Sage BRIDGE Centre SWING For Life Central Square BRIDGE St James’ Gate HIGHE LEVEL FORTH BANKS BRIDGE The Hilton Newcastle Gateshead Situation Grey Street forms the very heart of the historic core of Newcastle upon Tyne and is home to many major occupiers including Lloyds Bank, Go Ahead Group, NEDL and Rathbones. Grey Street is also a major cultural Grey Street is within Newcastle’s destination with a wide range of ‘Grainger Town’ which has one high quality bars and restaurants of the highest concentrations together with the Theatre Royal of listed buildings (244) outside which enjoys a national reputation Bath. With its gentle hill and and is the northern home of the graceful curve, Grey Street has Royal Shakespeare Company. received many accolades – Pevsner described it as ‘one of the finest Recent entrants onto Grey Street streets in England’ and in 2002 it include Las Iguanas, Carluccio’s, was voted the ‘Best Street in the Café Rouge, Browns Brasserie and UK’ by Radio 4 listeners. Harry’s Bar. EARL GREY HOUSE EARL GREY HOUSE EARL GREY Newcastle City Centre HOUSE 11 Earl Grey House 18 2 Grey Street 6 32 Monument St James’ 7 4 Eldon Square 3 4 8 3 Haymarket Hub 5 Northumberland Street Central Station 20 2 Monument 5 1 64 Citygate 9 1 75 Centre For Life 86 Central Station 19 97 Copthorne Hotel 108 Hilton Newcastle Gateshead 10 Manors 119 Tyne Bridge 11 1012 The Sage Gateshead 13 1113 Law Courts 1214 Millennium Bridge 1315 Baltic 12 1416 Quayside 17 1517 Malmaison 14 1618 St James’ Park 1619 A167M Central Motorway 16 1620 Stephenson Quarter 15 SAT NAV: NE1 6EF EARL Second Floor GREY HOUSE Grant Thornton Ground Floor Office Description HOIST MARKET STREET EXISTING PARTITION WALLS TO BE CAREFULLY STRIPPED OUT Up EXISTING SHOPFRONT COMPRISING TIMBER SHOPFRONT AND SECONDARY STONE HEADER TO BE CAREFULLY REMOVED. STONE STALL RISER IS TO BE RETAINED Female Toilets Female UNIT 6 UPPER EXISTING NON-LOADBEARING PARTITION (EXISTING VACANT RETAIL) WALLS AND BOXING TO BE CAREFULLY STRIPPED OUT NEW OPENING FORMED IN EXTERNAL WALL TO ALLOW FOR INSTALLING NEW OPENING FORMED IN EXISTING WALL Scott Wilson The property comprises a Grade II FOR NEW M&E DUCTWORK ROUTE, KITCHEN EXTRACT DUCT RUN WITH NEW LINTOLS INSTALLED AS UNIT 6 STR. ENGINEERS RECOMMENDATIONS EXISTING NON-LOADBEARING PARTITION (EXISTING VACANT RETAIL) WALLS TO BE STRIPPED OUT TOGETHER WITH ALL REDUNDANT FIXTURES & FITTINGS ASSOCIATED WITH PREVIOUS OCCUPANTS EXISTING TIMBER SHOPFRONT CAREFULLY REMOVED OPENING TO BE FORMED IN FLOOR SLAB (AREA SHOWN HATCHED) FOR INSTALLATION OF NEW STAIRCASE DURING FIT-OUT WORKS.
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