Retail property (high street) to rent

General Description - An imposing three storey retail property with an extensively glazed ground floor frontage with sandstone elevations above supporting a pitched mansard roof. The property offers an open plan sales area at ground floor with a wide staircase leading to an additional first floor sales area with ancillary storage areas at second floor level. The sales areas are very well presented and benefit from plastered ceilings with recessed spotlights, laminate floor coverings and ceiling mounted air conditioning units. The property would suit a wide range of retail, office or leisure uses, subject to planning where necessary.

Location - The property occupies a prime location in the pedestrianised centre of Newcastle under Lyme, immediately opposite Lloyds bank and Clarks and is adjacent to the York Place shopping precinct, shortly to be demolished where proposals for the area could see two four-storey shop and office developments, with public open space, between Ironmarket and Merrial Street. This redevelopment ties in with the blueprint for the £30 million regeneration of the nearby Ryecroft area, with the building of a 100-bed hotel, 90 homes for over-55s and the headquarters of Aspire Housing, as well as a 450 space multi-storey car park, all of which will further energise this end of the town centre.

Services - Mains water, drainage and electricity connected. Comfort cooling and heating installed. No services have been tested by the agents.

Accommodation - Ground Floor:
Sales area: 1,352 sq ft
First Floor:
Sales Area: 855 sq ft
Toilets: -
Second Floor:
Storage (inc kit): 676 sq ft
4 x store rooms: 390 sq ft

Total NIA: 3,273 sq ft

Vat - The rent is subject to VAT

Business Rates - Rateable Value: £17,750
Rates Payable: £8,857 pa (23/24)
During the 23/24 tax year retail, restaurant and leisure businesses may be entitled to a 75% reduction in business rates. Contact the local authority to confirm.

Tenure - Available by way of a new Full Repairing and Insuring lease for a term of years to be agreed subject to rent reviews every three years and with each party bearing their own legal fees.

Anti Money Laundering - In accordance with the anti-money laundering regulations, two forms of identification will be required (e.g. photographic driving license, passport, utility bill) from the applicant and a credit check may also be required, the cost of which will be the responsibility of the applicant. Where appropriate we will also need to see proof of funds.