44 - 48 Clayton Street Newcastle-upon-Tyne Tyne & Wear NE1 5PF

44 - 48 Clayton Street
Newcastle-upon-Tyne
Tyne & Wear
NE1 5PF

Freehold Retail Investment

Entirely let to Caversham Trading Limited
Tenant option to determine in March 2016 not excercised
Prominent retail position on busy Clayton Street
Close to both Intu Eldon Square Shopping Centre and The Gate Leisure Centre
Nearby occupiers include Debenhams, New Look, Monsoon and British Heart Foundation
For the Seller's Legal Pack, please click the Property Documents tab below
For a Buyer's Legal Report please click <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
13
Auction
11th February 2016
Rent
£63,000 per Annum Exclusive
Status
Sold
Price
£915,000
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Receivers CBRE

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Freehold Retail Investment

Entirely let to Caversham Trading Limited
Tenant option to determine in March 2016 not excercised
Prominent retail position on busy Clayton Street
Close to both Intu Eldon Square Shopping Centre and The Gate Leisure Centre
Nearby occupiers include Debenhams, New Look, Monsoon and British Heart Foundation
For the Seller's Legal Pack, please click the Property Documents tab below
For a Buyer's Legal Report please click <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 13
Auction 11th February 2016
Rent £63,000 per Annum Exclusive
Status Sold
Price £915,000
Sector
High Street Retail
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Receivers CBRE

Property Information

Location

Miles: 14 miles north-west of Sunderland, 18 miles north of Durham
Roads: A1, A19, A1(M), A167(M)
Rail: Newcastle Railway Station
Air: Newcastle International Airport

Situation

The property is situated on the western side of Clayton Street, in Newcastle City Centre. The property is within a short walk of both Intu Eldon Square Shopping Centre, which houses retailers including Debenhams, Next, Topshop and Poundland, and The Gate Leisure Centre. Surrounding occupiers include Bargain Buys, Heron Foods, Poundstretcher as well as a number of independent retailers.

Tenure

Freehold.

Location

Miles: 14 miles north-west of Sunderland, 18 miles north of Durham
Roads: A1, A19, A1(M), A167(M)
Rail: Newcastle Railway Station
Air: Newcastle International Airport

Situation

Tenure

Freehold.

Description

The property, a Grade II listed building, comprises a ground floor retail unit with ancillary accommodation on basement, first, second and third floors. The property benefits from a rear loading bay.

Six Week Completion

Note
This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without
personal liability.

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground Basement First Second Third	Retail/Loading Bay Office/Ancillary Ancillary Ancillary Ancillary	276.30 sq m 221.40 sq m 267.30 sq m 247.00 sq m 265.40 sq m	(2,974 sq ft) (2,383 sq ft) (2,877 sq ft) (2,659 sq ft) (2,857 sq ft)	CAVERSHAM TRADING LIMITED (1) (t/a Brighthouse)	10 years from 25/03/2011 until 24/03/2021	£63,000	25/03/2016
Totals		1,277.40 sq m	(13,750 sq ft)			£63,000

(1) For the year ending 31st March 2015, Caversham Trading Limited reported a turnover of £67,479,000 pre-tax profits of £2,759,000 and a total net worth of £56,365,000. (Source: Experian Group 13/04/2016)