1, King Street, Staffordshire, ST5 1EN

LOCATION

Excellently located on King Street, which is both one of Newcastle’s principle professional trading areas as well as the main arterial route between Newcastle and Hanley, the property is within easy walking distance of Newcastle town centre. The A500 is approximately ½ mile providing access to both Junctions 15 and 16 of the M6 as well as the recently extended A50.

DESCRIPTION

A rare opportunity to acquire a prominently located period restaurant premises arranged on ground and 1st floor, together with a separately accessed 2nd floor penthouse style apartment. The restaurant is accessed via an imposing entrance hall leading to the main dining area which has an extensive floor to ceiling glazed frontage to King Street. There are additional function rooms with bar facilities at ground and 1st floor together with spacious kitchen, male and female toilets and private office accommodation. The apartment extends over the entire area of the building, at 2nd floor level and although internally accessed. There is an external staircase to the rear making the apartment completely self-contained. The apartment is well appointed with fully fitted kitchen and two spacious bathrooms and offices. This offers superb town centre living accommodation.

ACCOMMODATION

Ground Floor:

Entrance Hall -

Bar/Function Room 364 sq. ft.

Drink store 75 sq. ft.

Restaurant 782 sq. ft.

Store 20 sq. ft.

Servery 50 sq. ft.

Kitchen 359 sq. ft.

Disabled WC -

1st Floor:

Gallery Landing -

Function Room 298 sq. ft.

Office 324 sq. ft.

Store 72 sq. ft.

Gents 180 sq. ft.

Ladies 320 sq. ft.

2nd Floor (Flat):

Kitchen 180 sq. ft.

Bedroom 1 210 sq. ft.

Bathroom 1 78 sq. ft.

Bedroom 2 231 sq. ft.

Bathroom 2 81 sq. ft.

Living room 289 sq. ft.

Box room 49 sq. ft.

Total NIA 3,962 sq. ft.

Cellar Unmeasured

External: There is a car parking area to the rear for 5 cars (see attached Title Plan).

SERVICES

All mains are connected. No services have been tested by the agents.

OUTGOINGS

BUSINESS RATES/COUNCIL TAX

Restaurant:

Rateable Value: £29,750

Rates Payable: £14,607.25 pa (19/20)

Apartment:

Council Tax Band E

VAT

The sale price is not subject to VAT.

PLANNING

Formerly used as offices, the property had consent granted in 2002, to be used as a restaurant and more recently with a self-contained flat above at 2nd floor level. With an established A3 Use Class Order the property can also be used for A2 (Professional Offices) and A1 (Retail) purposes without needing planning permission.

OTHER

EPC

Rating D (98)

TENURE

Available by the way of a new internal repairing lease for a term of years to be agreed, subject to rent reviews every 3 years and with the incoming tenant being responsible for landlords reasonable legal fees.