Bar/Nightclub
The property comprises a former four storey up market bar in a prime location and upon inspection was in a good general condition. We feel this could realistically be re-opened with very minimal work to provide food and drinks or change of use with planning approval.
The Ground Floor comprises a double frontage fully glazed which leads into the bar and seating areas. There is a spiral staircase at the front to the upper floors. To the rear are male and female WCs and access to the internal fire escape with an approximate NIA: 2,125 sq. ft.
The First Floor comprises an attractive spiral staircase and a circular bar and seating area; (both situated to the front section of this property), and to the rear is the main seating area behind a curved glass partition with the male and female WCs with an approximate NIA: 2,125 sq. ft.
The Second Floor comprises A seating area with WCs, along with access to the third floor plant room and a fire escape exit to the rear along with a fully fitted commercial kitchen and stores approximate NIA: 2,125 sq. ft.
Basement: This is accessed via the stairs (underneath the staircase), and provides storage and barrel access via a lift from Market Lane. NIA: 2,125 sq. ft.
8,500 sq. ft.
The premises are located at the corner of Ironmarket and Market Lane in Newcastle-Under-Lyme town centre. Ironmarket is one of the main shopping streets in the town centre. Within the immediate vicinity are a number of national retailers including; New Look, Scott’s, Greggs, JD Sports, Vodafone, Costa Coffee and CEX.
We are advised that VAT will not be chargeable on this transaction.
Vacant.
Freehold.
Auction Details:
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Variable Fee (England and Wales).
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees:
The following deposits and non- refundable auctioneer’s fees apply:
- 5% deposit (subject to a minimum of £5,000)
- Buyer’s Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
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