Investment for sale - The Assembly Rooms, Fenkle Street, Newcastle upon Tyne, NE1 5XU

<strong>Description</strong><br>The property comprises a Grade II Listed Georgian building constructed in 1776, with an external forecourt to the front.<br /> <br /> The property spans 4 floors including basement, with the ground floor comprising a former nightclub and the upper floors currently utilised as leisure/events space. The Assembly Rooms function suites to the upper parts host corporate functions, banquets and conferences. The upper parts can accommodate up to a capacity of circa 450 guests.<br /> <br /> The upper floors have a premises license in place until 4am, whilst the ground floor former nightclub and external forecourt previously hold a separate license until 4am, most recently operated by nightclub Chinawhite.<br /> <br /> *NB We are aware the property has basement level, but have not included this in the referenced measurements.<br><br><strong>Specifications</strong><br>The property is subject to an existing lease to Split Decision Limited t/a The Assembly Rooms for a 25 year term from 1st August 2025 for a total annual rent of £150,000 per annum. The agreed rent commencement date is 1st April 2026. Further information on the tenant’s current operation can be found at https://theassemblyroomsnewcastle.com/. <br /> <br /> We understand that NCP Commercial Services Limited manages the car park to the front of the building. NCP provides car park management services, collects associated revenue and pays a monthly fee at a rate of £15,000 per annum on a rolling term (month-to-month). More information available on request.<br /> <br /> The ground floor nightclub unit is currently vacant, previously occupied by Chinawhite.<br><br>