Freehold £1,395,000
LOCATION
The subject property is prominently located on the corner of Buxton Street and Gibson Street in Newcastle upon Tyne, just 0.5 miles east of the city centre.
The property is situated directly opposite the Staybridge Hotel and just 0.2 miles from Newcastle’s Quayside which is a popular and established business and leisure destination and only a 10-minute walk from Northumberland Street in Newcastle City Centre.
This makes the property easily accessible and well located, particularly for meetings, or lunch breaks in the City Centre, or Quayside.
The property is well located for accessibility by road, with the A193 just 0.1 of a mile away, the A167(M) is 0.4 of a mile away and the A186 is approximately 160 yards away.
Public transport links include Manors Metro and Railway Station which is 0.5 miles away.
DESCRIPTION
Buxton House comprises a substantial four storey, detached office building which occupies a prominent corner position.
The property benefits from a dedicated entrance from Gilbson Street, reception area, several meeting rooms and a board room. The offering is of good quality cellular office space on ground and first floors with the second floor presenting an open-plan space. The property also has a large basement area offering staff room and kitchen facilities as well as a plant room and warehouse space.
ACCOMMODATION
Basement
|
264.9m²
|
2,851ft²
|
Ground Floor
|
215.7m²
|
2,322ft²
|
First Floor
|
254.9m²
|
2,744ft²
|
Second Floor
|
321.4m²
|
3,460ft²
|
Total | 1,065.9m²
|
11,376ft²
|
USE CLASS
The property currently benefits from an B1 (Office) use class but may be suitable for a variety of uses, subject to obtaining planning permission and change of use.
CAR PARKING
The property benefits greatly from a car park to the side and rear which can accommodate 20 vehicles. This is something of a rarity in such close proximity to Newcastle’s city centre and Quayside.
RATING ASSESSMENT
Description
|
RV
|
Estimated Rates Payable
|
Office and Premises | £48,750 | £24,326.25
|
We are advised that the rateable value of the premises as at 1 April 2017 is £48,750 and we have estimated the actual rates payable for the current year above. This is based on the standard Small Business Rate of 49.9p in the pound. However, interested parties should confirm the current position with the Local Authority.
EPC RATING
E104
TERMS
The property is available by way of a new lease with terms to be agreed at £150,000 (One Hundred and Fifty Thousand Pounds) per annum.
The freehold is available at £1,300,000 (One Million Three Hundred Thousand Pounds).
VAT
All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT.
LEGAL COSTS
Each party is to bear their own legal costs involved in the transaction.
MONEY LAUNDERING REGULATIONS
In accordance with the Anti-Money Laundering Regulations the Purchaser/Tenant will be required to provide two forms of identification and proof of the source of income.
CONTACT
Richard Rafique BSc (Hons) MRICS
t: 0191 232 8080
e: Richard.rafique@bradleyhall.co.uk