Leisure/hospitality for sale in Rear Of Side, Newcastle Upon Tyne NE1

Location
Newcastle upon Tyne, the commercial capital of the northeast of England, is situated approximately 300 miles north of London, 100 miles south of Edinburgh, and 100 miles north of Leeds. The city has excellent transportation links, being situated on the main A 1 (M) motorway connecting London and Edinburgh. It also links with Carlisle and Cumbria to the west via the A69 trunk road.

Newcastle International Airport is located approximately 7 miles north west of the city centre providing daily flights to most major domestic and European destinations Newcastle Central Railway Station is a short walk from the property and forms part of the east coast main line between Edinburgh and London As well as overground rail connections, Newcastle is the only city in England
outside of London to benefit from an underground rail network, the Tyne and Wear Metro. The Metro has 60 stations across the North East connecting Newcastle City Centre to the wider conurbation including Sunderland, South Shields, and Newcastle Airport. Newcastle is home to two leading universities with over 50,000 students; Newcastle University and Northumbria University.

Newcastle University is a member of the Russell Group, a prestigious group of 24 UK universities. Both universities have large international student populations and have recently expanded their city-centre campuses. The population of Newcastle upon Tyne, England is approximately 300,200 people, according to the 2021 UK Census. The wider population of the Tyneside
metropolitan area, which includes Newcastle and the surrounding boroughs of Gateshead, North Tyneside, and South Tyneside, is approximately 880,000.

Situation
The property is situated in the heart of Newcastle city centre, at the intersection of Side and Sandhill. Side is a notable street in Newcastle upon Tyne, known for its historical significance and vibrant atmosphere. Descending steeply from the iconic
Newcastle Cathedral down to the lively Quayside, Side is a key thoroughfare that showcases the city’s rich heritage and dynamic urban life.

The street is lined with a blend of architectural styles, reflecting Newcastle’s long history. Many of the buildings date back to the Georgian and Victorian eras, contributing to the area’s charm. Side is home to a variety of establishments, including quaint cafés, traditional pubs, boutique shops, and modern restaurants, making it a popular destination for both locals and tourists. As you walk down Side, you can enjoy views of the River Tyne and the famous Tyne Bridge. The street’s steep incline and cobbled surface add to its distinctive character. Its location makes it a convenient route for accessing Newcastle’s Quayside, known for its vibrant nightlife, cultural attractions, and scenic river views.

Description Side
Enter through an enclosed brick archway from Side and step into a quaint cobbled courtyard. To your right, there is the internationally celebrated Side Photographic Gallery, a four-story brick-built property refurbished for use as an art gallery. The
top floor houses a design studio, and all floors are easily accessible via a passenger lift.

Side Photographic Gallery
On the left side of the courtyard, there is The Side Cinema, an intimate independent venue with seating for 51 guests. The first floor above the cinema hosts a modern photography archive, while the upper two floors offer versatile design and studio spaces. Recent upgrades include heritage roofing, skylights and flashings renovation

The Side Cinema & Upper Floors

On the left side of the courtyard, there is The Side Cinema, an intimate independent venue with seating for 51 guests. The first floor above the cinema hosts a modern photography archive, while the upper two floors offer versatile design and studio spaces. Recent upgrades include heritage roofing, skylights and flashings renovation.

11A Side Holiday Cottage
With a traditional retail frontage from Side, this popular Thai restaurant spans two floors whilst there is a separate lease for the top floor used as additional restaurant storage.

Bangrak Thai Restaurant

With a traditional retail frontage from Side, this popular Thai restaurant spans two floors whilst there is a separate lease for the top floor used as additional restaurant storage.

Tenancy Schedule and Accommodation

Please download brochure.

Tenure

The property is held freehold under the Title Numbers TY49964 and TY20163.

VAT

One of the freehold titles is not VAT elected whilst the other is and therefore it is

envisaged that the sale will be treated as a togc.

Proposal

We are seeking offers in excess of £695,000 for our clients freehold interest.

Based on a valuation of the cottage at £175,000, £520,00 represent a niy of 10.04% after purchasers costs of 4.78%.