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45 Durham Road, Chester-Le Street, Birtley, DD3 2QH

not specified / Retail

For Sale - £230,000.00

Under Offer - Last updated: 21 September 2019

Prime Position On Busy Thoroughfare
Extensive Stand Alone Ground Floor Unit
Let To Savers Health & Beauty Plc
Expiry: 28th September 2024
Passing Rent: £19,500p.a
Offers In Excess Of £230,000 Are Invited
 
Location
The subjects are situated on the West side of Durham Road, South of its junction with Beaconsfield Terrace within Birtley’s town centre.
Birtley lies 6 miles south-east of Newcastle-upon-Tyne, to the west of the junction of the A1(M) and A194(M).
The property is situated in the town centre shopping area, adjacent to a Morrisons Supermaket.
Occupiers close by include Greggs, Ladbrokes, William Hill and Lloyds Bank.
 
Subjects
 
The subjects comprise a single storey, stand alone retail unit of steel framed construction surmounted by a pitched roof with extensive aluminium framed glazed frontage. 
 
Internally the subjects have been decorated in accordance with Savers corporate specification, lighting is provided by way of ceiling mounted fluorescent strips on the suspended ceiling, partitions have been erected to the rear of the demise to form office, staff area, storage and w.c facilities.
 
Customer parking is provided adjacent to the demise.
 
Area
The property provides the following accommodation and dimensions: 
Gross Frontage 12.85 m (42' 2")
Net Frontage 12.05 m (39' 6")
Shop Depth 18.35 m (60' 3")
Built Depth 30.75 m (100' 10")
 
Executive Summary
 
The subjects are currently let on a full repairing and insuring lease on the following terms;
 
Tenant: Saver Health and Beauty Plc
Term:  15yrs from 29/9/2004
Expiry: 28th September 2024
Passing Rent: £19,500p.a.x
Further: No approach has been made to the tenant to discuss a lease extension. We understand this unit trades well and would be open to entering into negotiations.
 
Tenant Information
No. of Branches: 230.
Website Address: www.savers.co.uk
For the year ended 27th December 2014, Saver Health & Beauty plc reported a turnover of £299.925m, a pre-tax profit of £19.565m and a negative net worth of £22.019m. (Source: Experian 22.09.2015.)
 
Proposal
 
Our client is offering their freehold interest in the subjects for offers in excess of £230,000 representing a Gross Initial Yield of 8.5%
 
V.A.T
 
The subjects have been elected for V.A.T as such the transaction would be treated as a ToGC ( Transfer of a going concern). Further information available on request.
 
EPC
 
E.P.C available on request
 
Legal
 
Each party shall bear their own legal costs incurred in the transaction 
 
Viewing
 
The subjects can be viewed during opening hours, detailed viewings can be arranged via the marketing agent.
 
Title & Lease
 
Available on request 

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
  For Sale Freehold £230,000.00 NA

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Will Rennie

TSA Property Consultants

0141 538 0192



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