12 Regent Terrace

LOCATION
The property is situated in Gateshead town centre, on Regent Terrace, opposite Gateshead Civic Centre.

The nearby Trinity Square development provides 240,000 sq ft of modern retail and leisure space, including a Tesco Extra superstore, 41 retail units and a 7 screen cinema complex, together with 750 car parking spaces and student accommodation.

Adjacent to the Trinity Square development is Gateshead Bus & Metro Interchange, which provides excellent public transport facilities to the surrounding area. Newcastle City centre is located approximately 1 mile to the north.

There is also a pay and display surface car park directly behind the subject property.

DESCRIPTION
The subject property comprises the ground floor office within a two-storey Grade II Listed building of brick construction under a slate covered pitched roof. The windows are single glazed and the property benefits from gas fired central heating to radiators. The property is situated within a Conservation area.

Internally, the property has carpeted floors and plastered walls and ceilings. The space is divided into four rooms accessed off a shared corridor. There is a kitchen to the rear of the ground floor and a W.C with wash basin. Additional basic storage has been created within the basement.

There is off street parking to the front and rear.

This property is suitable for office use.

ACCOMMODATION
The property provides the following net internal floor areas:

Basement 15.62 sq m (168 sq ft)
Ground Floor:
Office 1 20.20 sq m (217 sq ft)
Office 2: 21.69 sq m (233 sq ft)
Office 3: 17.82 sq m (192 sq ft)
Office 4: 21.79 sq m (235 sq ft)
Kitchen: 6.59 sq m (71 sq ft)

Total: 103.71 sq m (1,116 sq ft)

TERMS
The property is available to let for a term of years to be agreed with provision for upward only rent review at the end of the third year of the term. The lease will be drawn on an internal repairing and insuring basis and there will be a service charge operating relating to the maintenance of the common parts.

The rent is £12,250 per annum exclusive of business rates and payable quarterly in advance.

OUTGOINGS
We understand the property is entered into the 2023 Rating List with a Rateable Value of £7,900.

Interested parties should verify this figure with the Local Authority. A new tenant may qualify for Business Rates Relief.

VAT
The property is not registered for VAT and therefore VAT will not be payable on the rent.

LEGAL COSTS
The ingoing tenant is to pay a contribution towards the landlord´s proper legal costs.

OTHER
CODE OF PRACTICE FOR COMMERCIAL LEASES

The Code of Practice for Commercial Leases in England and Wales recommends parties intending to enter into leases should seek advice from professionals or lawyers at an early stage. The Code is available through professional institutions and trade associations or through the website,

VIEWING
Strictly by appointment with youngsRPS.
Contact Paul Fairlamb on .