Newmarket Street, Consett, DH8
Annual Rental Of £22,500

PROMINENT FORMER BAR / RESTAURANT PREMISES OF C. 463.79 sq m (4,992 sq ft) OVER TWO FLOORS

LOCATION
Consett is a popular market town situated 14 miles south-west of Newcastle upon Tyne and 13 miles north-west of Durham City at the junction of the A691/A692, both of which provide the link to the A1(M).

Consett is home to over 37,000 people, growing to 68,000 people within a 30-minute drivetime.

The subject property occupies a prominent position on Newmarket Street, within the town centre. Surrounding occupiers include Co-operative Funeralcare, Your Move Estate Agents, Domino’s Pizza, Sambuca Restaurant & Tyre Spot.

DESCRIPTION
The property comprises an attractive three-storey, red brick, former Co-op building that has been operated in recent years as a bar, restaurant and live music venue to the ground and lower ground floor, a gymnasium to the first and residential to the second floor.

Currently, at ground floor, the inner entrance porch leads through to the main bar area, which has an industrial feel with exposed brick walls, iron work and stripped rustic wooden flooring throughout. To the rear of the main bar is a snug area, WC’s, kitchen facilities and access to the loading area.

The lower ground floor provides a separate bar / function room, currently with booth seating for approximately 40 people. The beer cellar is also located on this level.

ACCOMMODATION
Approximate net internal areas: 

Ground Floor – 337.43 sq m (3,632 sq ft)
Lower Ground Floor – 126.36 sq m (1,360 sq ft)
Cellar – not measured

Total – 463.79 sq m (4,992 sq ft)

TERMS
The property is available by way of a new EFRI lease for a term of years to be agreed at a rent of £22,500 pax. 

RATING ASSESSMENT
We understand that the premises currently have a rateable value of £6,900 effective from 1st April 2023.

Under current government legislation, Small Business Rate Relief may result in no rates being payable (subject to eligibility). Interested parties should confirm the accuracy of this information and the actual rates payable with the Local Authority.

VAT
All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Graham S Hall upon this basis and where silent, offers will be deemed net of VAT.

ENERGY PERFORMANCE
EPC Rating B 49.

LEGAL COSTS
Each party to be responsible for their own costs incurred in this transaction.

ANTI-MONEY LAUNDERING REGULATIONS
In accordance with anti-money laundering regulations, two forms of identification and confirmation of the source of funding will be required from the purchaser / tenant.

VIEWING
For general enquiries and viewing arrangements please call sole agents Graham S Hall Chartered Surveyors.