- Ground Floor Retail of Approximately 61.00 sq m (657 sq ft)
- Lower Ground Floor Ancillary Storage & Staff Facilities of c. 47.70 sq m (513 sq ft)
- Located within the Prime Retail Pitch at the Heart of the City Centre
- Surrounding Occupiers Include; Tesco, Lloyds Bank, The Works, The Body Shop, Holland & Barratt, Caffe Nero & Select (Apple Premium Reseller)
- Primary Retail Catchment c. 120,000 people Boosted Significantly by an Estimated 5.5 Million Tourists per year
- Durham University Student Numbers set to Rise from 18,000 to c. 22,000 by 2025
- New EFRI Lease Available
- Rent £35,000 pax
PRIME CITY CENTRE SHOP WITH GROUND FLOOR RETAIL OF c. 61.00 sq m (657 sq ft)
The historic city of Durham is the economic and cultural centre of County Durham sitting approximately 18 miles south of Newcastle and 14 miles south west of Sunderland.
Durham benefits from excellent road communications being located in close proximity to the A690 and the A1M, connecting the city to the national motorway network. The city is on the main East Coast rail line from London to Edinburgh.
Durham has a resident population of 50,400 people and a catchment of approximately 120,000 which is boosted substantially by tourists and students. The city’s cathedral and castle are designated by UNESCO as a World Heritage Site and help to attract an estimated 5.5 million tourists per year.
The property is situated on the pedestrianised section of Silver Street, within close proximity of the River Wear and the Framwellgate Bridge.
Both the Riverwalk and Prince Bishops shopping centres are within close proximity of the subject property and provide valuable parking to the City with Silver Street being the pedestrian thoroughfare between the two.
Surrounding retailers include Tesco, Lloyds Bank, The Works, The Body Shop, Holland & Barratt, Caffe Nero & Select (Apple Premium Reseller).
The property is of brick construction with an attractive glazed window frontage and is arranged to provide an open plan sales area to ground floor and ancillary storage, staff break out space and WC’s to the uppers.
The available accommodation briefly comprises:
Ground Floor - 61.00 sq m (657 sq ft)
First Floor - 31.40 sq m (338 sq ft)
Second Floor - 48.90 sq m (526 sq ft)
Third Floor - 27.90 sq m (300 sq ft)
Total – 169.20 sq m (1,821 sq ft)
The property is available by way of a new EFRI lease for a term of years to be agreed at a rent of £35,000 per annum exclusive.
We understand that the premises have a rateable value of £35,750 effective from 02nd May 2017, reducing to £17,000 from the 01st April 2023. It is however, recommended that any interested party confirm the accuracy of this information and the rates payable with the Local Authority.
The property currently has an EPC rating of 115 within Band E.
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.
For general enquiries and viewings please contact Sole Agents Graham S Hall Chartered Surveyors on 0191 731 8660.