Corner House, 20 Lad Lane, Newcastle-under-Lyme, ST5 1RE

Summary

A well presented retail/office unit in the middle of the pedestrianised town centre of Newcastle-under-Lyme. The property is surrounded by national retailers and located next door to York Place which is being redeveloped by Capital & Centric to create 52 apartments, new commercial units and public realm space. This investment will have a positive effect on the location with a huge increase in footfall expected upon its completion. The property comprises an open plan ground floor sales area, with two large windows allowing natural light into the property. There is a cellar under the unit which houses the WC and two rooms of storage. The premises benefits from laminate flooring and roller shutters on the outside of the windows.

Note: the rent is being offered at a reduced rate of £7,000 for the first year and will be stepped by £500 in the second and again in the third.

Key Points

Services

Mains electric, water and drainage are connected. No services have been tested by the agents.

VAT

The rent is not subject to VAT

Tenure

Available by way of a new Internal Repairing and Insuring lease for a minimum of 3 years and with rent reviews every 3 years. The tenant will be responsible for the fee of £250 plus VAT for the preparation of the lease.

Business Rates

Rateable value £7,000
Rates payable £3,492 pa (24/25)
Note: If you qualify for Small Business Rates Relief you should be entitled to a 100% rates payable exemption.

Anti-money Laundering Regulations

In accordance with the anti-money laundering regulations, two forms of identification will be required (e.g. photographic driving license, passport, utility bill) from the applicant and a credit check may also be required, the cost of which will be the responsibility of the applicant. Where appropriate we will also need to see proof of funds.

Location