- Ground Floor Retail Unit Extending Approximately 169.78 sq m (1,827 sq ft)
- Potential to Include Upper Parts, Totaling Approximately 353.03 sq m (3,800 sq ft)
- High Footfall Area
- Surrounding Occupiers Include: Tesco Express, Sainsbury’s Local, Iceland, Subway, Greggs & JD Wetherspoon
- Less than 0.25 Miles from Durham Main Line East Coast Railway Station & Regional Bus Terminus
- Would Suit a Variety of Uses (Subject to Planning)
- New FRI Lease Available
- Rent from £32,000 pax
Durham City Centre is an easily accessible and very popular destination that is well connected to all the surrounding nearby towns. With the A1, a major north south trunk road and good link roads, Newcastle, Darlington and Sunderland all lie within a 30 minute drive time.
There is also excellent rail, coach and bus services into Durham from the surrounding major conurbations and the City enjoys a healthy number of visitors and tourists from all over the country.
The property occupies a prominent position on North
Road with surrounding occupiers including: Tesco Express, Sainsbury’s Local, Iceland, Subway, Greggs & JD Wetherspoon.
The new Odeon Luxe Cinema has recently opened in the former Gates Shopping Centre which has been rebranded as The Riverwalk and houses a number of retail, restaurant and leisure operators including Cosy Club. In addition, the development provides over 250 student bedrooms and covered parking for close to 500 vehicles.
The premises comprise a self-contained ground floor retail unit within a three-storey stone-built property. The first and second floors, which have recently traded as a bar, could also be included by separate negotiation.
Sales - 154.12 sq m (1,659 sq ft)
Office - 10.06 sq m (108 sq ft)
Kitchen - 3.20 sq m (34 sq ft)
Ancillary 2.40 sq m (26 sq ft)
Total - 169.78 sq m (1,827 sq ft)
*Approximately 3,800 sq ft of additional space available at first and second floor (by separate negotiation).
The ground floor of the property is available by way of a new FRI lease for a term of years to be agreed at a rent of £32,000 pax.
We understand that the premises have a rateable value of £36,750 effective from 01st April 2017 however, it is recommended that any interested party confirm the accuracy of this information and the rates payable with the Local Authority. As a new occupier, rights of appeal may exist against the assessment.
All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Graham S Hall upon this basis and where silent, offers will be deemed net of VAT.
Each party to be responsible for their own costs incurred in this transaction.
ANTI-MONEY LAUNDERING REGULATIONS
In accordance with anti-money laundering regulations, two forms of identification and confirmation of the source of funding will be required from the purchaser / tenant.
In accordance with the Code of Leasing Business Premises: England and Wales the landlords are willing to consider alternative lease terms to those set out but please bear in mind that variations may affect the level of rent proposed.
A copy of the Code of Leasing Business Premises: England and Wales can be obtained at www.leasingbusinesspremises.co.uk or obtained from the Royal Institution of Chartered Surveyors, Telephone 0207 334 3806.
Graham S Hall Chartered Surveyors for themselves and for the vendors and lessors of the property give notice that:
1) These particulars are set out as a general outline only for the guidance of intending purchasers or lessees and do not constitute, nor constitute part of any offer or contract.
2) All descriptions, dimensions, reference to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct but without responsibility on the part of Graham S Hall Chartered Surveyors or their clients. Any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them.
3) No person, either principal or employee, at Graham S Hall Chartered Surveyors has any authority to make or give any representation or warranty in relation to this property.
4) Any reference to plant, machinery, equipment, services, fixtures or fittings shall not imply that such items are fit for purpose or in working order.