Ponteland is an affluent suburb of Newcastle upon Tyne, which lies approximately one mile from Newcastle Airport.
The unit occupies a prominent position in Ponteland Village and is also situated close to a large Waitrose Supermarket, with retailers in the immediate vicinity being a mix of multiple and local traders to include Café by Design, Geoff Stevens & Sons and The Seven Stars Public House.
The property comprises the ground floor within a 3 storey building, with the upper floors given over to office accommodation.
From our measured inspection we understand the property extends to the following areas and dimensions:
Gross Frontage: 33’ 4” (10.15 m)
Net Frontage: 24’ 2” (7.36 m)
NIA: 1,159 ft ² (107.67 m²)
The property has been measured in accordance with the most recent RICS Code of Measuring Practice.
The property is held on the residue of a long lease which is due to expire on the 2nd December 2024. The current passing rent is £23,625 per annum and is not subject to any further rent reviews.
Offers are sought for our client’s leasehold interest. Our clients are seeking to dispose of their interest by way of a co-terminous under lease. Alternatively, there may be the opportunity to agree a long term transaction with the Landlord.
The property is entered in the Valuation List as follows:
Description: Shop
Rateable Value (‘23/’24): £30,750
An EPC has been commissioned – further details on request.
Each party will be responsible for their own legal costs, with the ingoing under tenant being responsible for any costs incurred by the Landlord.
To comply with Money Laundering Regulations we are legally required to undertake due diligence on prospective purchasers/tenants which will at a minimum include proof of identity/address and funding. Applicable documentation will therefore be required on agreement of Heads of Terms.
Strictly by appointment via the agents:
Whitelaw Baikie Figes Reid Birkett
Contact: Gavin Anderson Contact: Mike Birkett
Tel: 0141 221 6161 Tel: 01661 820771
Email: gavin@wbf.co.uk Email: mike@reidbirkett.co.uk