17 Sandhill Newcastle Upon Tyne Tyne & Wear NE1 3AF

17 Sandhill
Newcastle Upon Tyne
Tyne & Wear
NE1 3AF

Freehold City Centre Restaurant/Bar Investment

Majority let to City Centre Restaurants (UK) Limited guaranteed by City Centre Restaurants plc until 2021
Located within renowned Quayside leisure district
Nearby occupiers include Slug & Lettuce, Chase Bar and Premier Travel Inn
Six Week Completion Period Available

Lot
25
Auction
8th December 2011
Rent
£70,000 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On Behalf of Telereal Trillium

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Freehold City Centre Restaurant/Bar Investment

Majority let to City Centre Restaurants (UK) Limited guaranteed by City Centre Restaurants plc until 2021
Located within renowned Quayside leisure district
Nearby occupiers include Slug & Lettuce, Chase Bar and Premier Travel Inn
Six Week Completion Period Available

Lot 25
Auction 8th December 2011
Rent £70,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector
Leisure
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On Behalf of Telereal Trillium

Property Information

Location

Miles: 0.8 miles north of Gateshead, 13 miles north-west of Sunderland, 37 miles north of Middlesbrough
Roads: A167(M)
Rail: Newcastle Central Railway Station and Newcastle Main Railway Station (direct to London Kings Cross)
Air: Newcastle Airport

Situation

The property is situated in a prominent position on the eastern side of Sandhill within the Quayside leisure district. Nearby occupiers include Slug & Lettuce, Chase Bar and Premier Travel Inn.

Tenure

Freehold.

Location

Miles: 0.8 miles north of Gateshead, 13 miles north-west of Sunderland, 37 miles north of Middlesbrough
Roads: A167(M)
Rail: Newcastle Central Railway Station and Newcastle Main Railway Station (direct to London Kings Cross)
Air: Newcastle Airport

Situation

The property is situated in a prominent position on the eastern side of Sandhill within the Quayside leisure district. Nearby occupiers include Slug & Lettuce, Chase Bar and Premier Travel Inn.

Tenure

Freehold.

Description

The property, an attractive Grade II Listed building, comprises restaurant/bar accommodation on ground and first floors with kitchen/ancillary accommodation on lower ground floor. The three remaining upper floors, formerly used as residential accommodation, are accessed internally.

VAT

VAT is applicable to this lot.

Viewings

There will be block viewings for this property. Interested parties must register their details with the Auctioneer and provide identification on site.

EPC

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

Description

VAT

VAT is applicable to this lot.

Viewings

There will be block viewings for this property. Interested parties must register their details with the Auctioneer and provide identification on site.

EPC

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

Tenancy & Accommodation

Unit	\|Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
Lower Ground Ground First	Kitchen/Ancillary Restaurant/Bar Restaurant/Bar	111.58 sq m 136.38 sq m 124.58 sq m	(1,201 sq ft) (1,468 sq ft) (1,341 sq ft)	CITY CENTRE RESTAURANTS (UK) LIMITED (1)(2) guaranteed by City Centre Restaurants plc	25 years from 07/08/1996 until 06/08/2021 on a full repairing and insuring lease	£70,000	07/08/2011 and 07/08/2016
Second	Formerly Residential	90.21 sq m	(971 sq ft)	VACANT POSSESSION
Third	Formerly Residential	90.21 sq m	(971 sq ft)	VACANT POSSESSION
Fourth	Formerly Residential	Not Measured	Not Measured	VACANT POSSESSION
Totals		552.96 sq m	(5,952 sq ft)			£70,000

(1)For the year ending 2nd January 2011, City Centre Restaurants (UK) Limited reported a turnover of £356,167,000, pre-tax profits of £49,629,000 and a total net worth of £57,817,000. (Source: www.riskdisk.com 03/11/2011).
(2) The tenant has sublet their demise. The subtenant is not currently in occupation.