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Head of Steam

2 Neville Street, Newcastle City Centre NE1 5EN
Voir la carte
Ref: 6450583
Freehold£450,000

Contact

David Cash
David CashRegional Director (North) - Pubs & Restaurants
+44 7736 621 023david.cash@christie.com

Points clés

  • Hospitality sale and leaseback opportunity
  • New lease with Cameron's Brewery Limited
  • Gross rental income of £45,000 p.a
  • Net Initial Yield: 9.57%
  • Site area: c.385.29 m. sq.
  • EPC Rating B
Voir tous les détails Head of Steam
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Head of Steam
2 Neville Street, Newcastle City Centre NE1 5EN
Ref: 6450583

Head of Steam

Description

The property occupies the basement, ground floor and first floor of a six storey commercial building of mid‑century construction. The building extends to just under c.385.29 sq. m. and sits on a site of approximately 0.487acres.

Localisation

The Head of Steam occupies a prominent position on Neville Street, directly opposite Newcastle central station, the city’s main rail hub and a major gateway for regional and national travellers. This high‑profile location benefits from strong, consistent pedestrian flows driven by station footfall and the surrounding cluster of hotels, offices and hospitality businesses. Neville Street forms part of an established city‑centre leisure circuit with convenient links to Collingwood Street, Grey Street and the Bigg Market. The immediate area supports sustained customer demand throughout the day and evening. Public transport connectivity is excellent. Central station provides direct rail services to key UK cities including Edinburgh, York and Leeds, while numerous local bus routes and strategic road links via the A167(M) and A1(M).

Le bien

Opportunity to secure a passive income by way of rent from a long‑established and reputable hospitality operator, whilst owning the long leasehold interest in a prime city centre asset.

Typologie

Long Leasehold: Landlord: Baron House Developments LLP Term: 47 Years Expiry: 16/12/2073 Service charge: tenant must pay a fair proportion of the costs set out in the Third Schedule. Ground rent: £1 per year (if demanded)

Location

The property is currently operated by Head of Steam within the managed estate of Camerons Brewery Limited. Camerons Brewery has instructed Christie & Co to dispose of the long leasehold interest and simultaneously take a new occupational lease as part of a sale and leaseback arrangement. Tenant: Camerons Brewery Limited (parent company) Lease term: the seller is looking to take a minimum 10 year lease but is open to a 15+ year term Rent review: upwards only to market rent of in line with RPI Rent review frequency: to be discussed and will be partly determined by lease length