The Union Rooms, 48 Westgate Road, Newcastle upon Tyne

Prime Leisure Investment For Sale

18,740 ft²

Price on application

Key Features

Features
Detached 19th century building
Total size of 1,741m² (18,740ft²)
Prominent city centre location
Arranged over basement, part ground, part first and part second floors
Potential to develop the upper floors sTpp
Let to Cyclone (Newcastle) limited
Personal guarantee until 2022
Passing rent of £200,000 per annum exclusive
Freehold available with price on application
Transport
Bus stops located 350 ft away
0.1 mile from Central Train and Metro Stations
Sitauted on Westgate Road
0.3 miles from A167 (M) and Tyne Bridge

Property Description

LOCATION
The subject property is located on Westgate Road in newcastle upon Tyne city centre. The property is prominently located at the junction which joins with neville street and collingwood street and is only 0.1 mile from central Train and metro stations.


The property is situated within a popular business, retail and leisure location with surrounding occupiers including hampton by hilton, county hotel, Revolution, Jalou and head of steam, as well as being adjacent to Vita student accommodation.

DESCRIPTION
The subject property comprises a detached, 19th century building which is arranged over five floors. The basement, part ground, part first and part second floors are currently operating as a public house. There is the opportunity to develop the upper floors which may be suitable for a variety of uses, including hotel use, subject to obtaining necessary planning permission.

EPC RATING

G156

ACCOMMODATION AND TENANCY INFORMATION

Tenant Occupied area Rent Lease terms Size
Cyclone (Newcastle) Limited Basement, Group, First and Part Second Floors £200,000 pax 15 years, commencing on 2 January 2019 and expiring on 1 January 2034.
Rent review on 2 January 2024 and 2 January 2029 on an upwards only, open market basis.
Tenant’s break option exercisable on 2 January 2029
1,425.25m² (15,331ft²)
Vacant space on upper floors


316.75m² (3,409ft²)
Total


1,741m² (18,740ft²)


TERMS
The accommodation is available by way of freehold with the price available on application.

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.

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.

VIEWING
For general enquiries and viewing arrangements please contact Nicholas Bramwell at Bradley Hall.

Tel:       0191 232 8080
Email:   nicholas.bramwell@bradleyhall.co.uk


Arrange a viewing


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