580 – 580a Durham Road, , , NE9 6HX TENANT’S BUSINESS IS

NOT FOR SALE Long Income Leisure Investment producing £37,500 per annum

Johnson Tucker LLP, The Boathouse, , , NE15 8NL T: 0191 269 7890 E: [email protected] W: www.johnsontucker.co.uk

LOCATION The property is located in Low Fell, a Gateshead suburb approximately 3 miles south of Newcastle upon Tyne and 12 miles north of Durham. The property fronts Durham Road, (A167), which is a busy street between Gateshead in the north and Birtley in the south. As well as strong road connections, there are a number of bus services in Low Fell and the nearest Metro Station is approximately 2 miles to the north at . Low Fell has a population of approximately 9,000 and Durham Road is the main shopping destination to the area, comprising a mix of strong national and local retailers including Greggs, Subway, Boots, Betfred among others. DESCRIPTION The property comprises an end terrace building with brick elevations under a flat roof and has been trading as an Italian restaurant since 1961. The property currently trades as Rosa 12.

Internally the property comprises restaurant seating across basement, ground and first floors ACCOMMODATION TENANCY offering 150 covers, with kitchen and preparation The property has the following internal floor areas: The property is let to Safari Estates Limited with areas over ground and basement. There is a private personal guarantee on a 15 year lease from 22 May Basement – 987 sq ft / 91.7 sq m function suite at basement level with additional 2015 therefore expiring on 21 May 2030. The rent bar area. Ground – 1,213 sq ft / 112.72 sq m was increased at rent review to £37,500 per annum with effect from 22 May 2018. The tenant has a EPC First – 1360 sq ft / 126.4 sq m

The property has an EPC rating of C(57) Total – 3,561 sq ft / 330.82 sq m

Johnson Tucker LLP, The Boathouse, Newburn, Newcastle upon Tyne, NE15 8NL T: 0191 269 7890 E: [email protected] W: www.johnsontucker.co.uk duty to keep the property clean and tidy and in full and good repair and condition.

VAT All prices quoted are exclusive of VAT, where payable.

LEGAL COSTS Each party is to be responsible for their own costs

incurred in the transaction. ANTI-MONEY LAUNDERING REGULATIONS In accordance with anti-money laundering regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser.

PROPOSAL Offers in excess of £450,000 are invited for the freehold interest of the property. A sale at this level reflects a net initial yield of 8.00% allowing for purchasers costs of 4.47%

For more information please contact: VIEWING Daniel Capobasso MRICS Strictly by appointment through Johnson Tucker LLP Chartered Surveyors. 07968 618 948

Conditions under which these particulars are issued [email protected] All details in these particulars are given in good faith, but Johnson Tucker LLP for themselves and the Vendors/Lessors of this property for whom they act give notice that: - 1. These particulars do not and shall not constitute, in whole or in part, an offer or a contract or part thereof, and Johnson Tucker LLP have no authority to make or enter into any such offer or contract. 2. All statements contained in these particulars are made without acceptance of any liability in negligence or otherwise by Johnson Tucker LLP, for themselves or for the Vendors/Lessors. 3. None of the statements contained in these particulars is to be relied on as a statement or representation of fact or warranty on any matter whatsoever, and intending purchasers must satisfy themselves by whatever means as to the correctness of any statements made within these particulars. 4. The Vendors/Lessors do not make, give or imply, nor do Johnson Tucker LLP or any person in their employment have any authority to make, give or imply, whether in these particulars or otherwise, any representation or warranty whatsoever in relation to the property. The statement does not affect any potential liability under the Property Misdescriptions Act 1991.

Johnson Tucker LLP, The Boathouse, Newburn, Newcastle upon Tyne, NE15 8NL T: 0191 269 7890 E: [email protected] W: www.johnsontucker.co.uk