sw.co.ukFormer New Bridge, 2-4 Argyle Street, Newcastle upon Tyne NE1 6PF

TO LETPROMINENT LEISURE

OPPORTUNITY

Former New Bridge, 2-4 Argyle Street, Newcastle upon Tyne NE1 6PF

Location

Newcastle upon Tyne is located in the North East of England and has an urban area population ofcirca 190,000 persons. Newcastle is principally accessed via the A1, A19 and A69. NewcastleAirport, 7 miles north west of the city centre, provides international and domestic services.

The subject property is situated on Argyle Street/New Bridge Street a short walking distance fromNewcastle city centre. The property is situated in an area that has undergone significantredevelopment in the last 6 years with Northumbria University Law and Business School immediatelyopposite the subject property and more recently substantial development of student accommodationwhich is approximately 200 yards away from the subject leisure opportunity.

To the rear elevation is the Technopole Business Park of which Newcastle based developersAdderstone Group have recently made plans to demolish the existing office accommodation andreplace it with two new student housing developments in a £40m scheme. The initial proposals wouldsee circa 160 apartments accommodating 533 bedrooms including a student hub, dining room,games room, cinema and gym.

There are circa 1,000 student bed spaces in the immediate vicinity with a total number of studentswithin Newcastle equating to approximately 60,000. Northumbria University has a student populationof around 32,000. There is a limited offering in the subject location for students to eat and drink ofwhich an operator could capitalise on with the acquisition of this leisure opportunity.

Description

The subject property comprises a semi-detached, brick cavity wall property with accommodation overbasement, ground and first floors under a pitched slate roof.

Internally the ground floor and basement are fitted out as a public house with plastered and paperedwalls, central bar servery at ground floor level with a variety of loose chairs and tables and settleseating. Male and female WC’s are also situated at ground floor level. To the back of house there isa fully fitted catering kitchen with stainless steel appliances and extraction system. At basement levelthere is a good size cellar with adequate floor to ceiling height.

Lease Terms

The premises are available by way of a new Full Repairing and Insuring lease for a term of years tobe agreed at an asking rent of £40,000 per annum exclusive, subject to contract.

Rent £40,000 per annum exclusive

New effective Full Repairing andInsuring lease for a term of years to be

agreed

Total Area 281.61 sq m (3,031 sq ft)

Accommodation

We understand that the accommodation provides the following approximate net internal floor areas:-

Rates

The property is currently listed within the 2017 Rating List as follows:-

Public House & Premises RV £22,250

Interested parties should verify the accuracy of this information and rates payable with the Local RatingAuthority, Newcastle City Council.

VAT

All rents quoted are deemed exclusive of VAT.

Legal Costs

Each party is to be responsible for their own legal costs incurred throughout this transaction.

EPC

The property has an Energy Performance Asset Rating of Band C (56). Full copy of the EPC is available uponrequest if required.

Services

We understand that all mains services are connected to the property however any interested party shouldcarry out their own investigations with regard to this matter.

Planning

The subject property has consent for A4 Use Class under the Town and Country Planning Use Classes Order1987. Alternative uses may be suitable subject to obtaining necessary planning consent. Licencing hours are11am – 11pm Monday to Saturday and 11am – 10:30pm on Sunday.

Former New Bridge, 2-4 Argyle Street, Newcastle upon Tyne NE1 6PF

Description Sq m Sq ft

Ground Floor Public House 176.72 1,902

Basement Cellar 104.89 1,129

Total Area 281.61 3,031

Misrepresentation Act 1967: Messrs Sanderson Weatherall LLP for itself and for the vendor(s) or lessor(s) of this property whose agents they are, give notice that: 1) Theseparticulars do not constitute any part of an offer or contract; 2) None of the statements contained in these particulars as to the properties are to be relied on as statements ofrepresentations of fact; 3) Any intending purchasers must satisfy themselves by inspection or otherwise as to the correctness of each of the statements contained in these particulars;4) The vendor(s) or lessor(s) do not ake or give and neither Messrs Sanderson Weatherall LLP nor any person in their employment has any authority to make or give anyrepresentation or warranty whatsoever in relation to this property; 5) None of the building’s services or service installations (whether these be the specific responsibility of thefreeholder, lessor or lessee) have been tested and are not warranted to be in working order. Finance Act 1989: Unless otherwise stated all prices and rents are quoted exclusive ofVAT. Consumer Protection from Unfair Trading Regulations 2008 and Business Protection from Misleading Marketing Regulations 2008; Every reasonable effort has been made bySanderson Weatherall to ensure accuracy and to check the facts contained in these particulars are complete. Interested parties are strongly advised to take appropriate steps toverify by independent inspectionor enquiry all information for themselves and to take appropriate professional advice.

SandersonWeatherall LLP Registered in England company number OC 344 770 RegisteredOffice 6th floor, Central Square, 29 Wellington Street, Leeds, LS1 4DL

sw.co.uk

Strictly by prior appointment with theagents:

Mark Convery

0191 269 0103

mark.convery@sw.co.uk

Kevin McGorie

0191 269 0174

kevin.mcgorie@sw,co.uk

Sanderson Weatherall22-24 Grey Street

Newcastle upon TyneNE1 6AD

February 2019