Leisure Premises To Let in Newcastle City Centre

1-3 Market Lane, Newcastle upon Tyne, NE1 6QQ

4,092 sq ft

City Centre Leisure Premises To Let

Summary

City Centre Location
Size: 4,092 sq ft (380.15 sq m)
Rent: £75,000 pax
Subject to Contract

Location

The property is prominently positioned at 1-3 Market Lane in a prime city centre leisure location. Situated just off Pilgrim Street, the property sits directly opposite the landmark Bank House development and The STACK Newcastle, one of the city’s most popular food, drink and entertainment destinations. This vibrant area has become a key part of Newcastle’s leisure and hospitality circuit, surrounded by a mix of bars, restaurants, cafes and cultural venues. The property benefits from strong pedestrian footfall throughout the day and evening, supported by nearby offices, residential developments and visitor attractions.

The location offers excellent connectivity with Grey Street, Dean Street and the Quayside all within a short walking distance, while Monument Metro Station and major bus routes provide easy access across the city and wider region. The Tyne Bridge and Central Motorway (A167M) are also close by.

Get directions from Google Maps

Mainline Stations

Manors

5 mins
Newcastle

7 mins
Dunston

38 mins
MetroCentre

45 mins

Underground Station

Chesham

4431 mins
Amersham

4472 mins
Chalfont and Latimer

4487 mins
Broxbourne

4487 mins

Further Information

Rent £75,000 per annum

Rates Payable Upon Enquiry

BER Rating This property has been graded as B (45)

Description

The subject property comprises a three storey leisure unit of traditional brick construction which most recently traded as Horticulture and El Guapo. The building benefits from having two access points one of which faces directly onto Pilgrim Street and the other on Market Lane. The property is within the city’s established hospitality zone sitting opposite the upcoming leisure destination STACK Newcastle. As the accommodation is arranged over three floors, this offers flexibility for multiple uses or levels of operation. The opportunity is available ideally as a whole unit giving a single operator full control over the property or alternatively it can be let to two separate leisure operators, subject to covenant strength and operational fit out requirements.

The property benefits from a late licence until 2am unlocking strong evening and night time value aligning with the city centre’s night time economy dynamics. The property also benefits from an external terrace area at first floor level and fitted kitchen ready for immediate use.

Terms

The property is available by way of an Effective Full Repairing & Insuring lease for a term of years to be agreed at an asking rent of £75,000 per annum exclusive of VAT, subject to contract.

Use/Planning

We understand that the property has consent for Sui Generis Use Class under the Town & Country Planning Use Classes Order as amended 1 September 2020.

Alternative uses may be considered subject to obtaining the necessary planning consent from the Local Planning Authority, Newcastle City Council.