The property is of brick construction with an attractive glazed window frontage and is arranged to provide an open plan sales area and staff WC's and ancillary storage amd staff break out space to the lower ground floor.
Location
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 Express, Holland & Barratt, Caffe Nero, Tortilla, T4, Grape Tree & Lloyds Bank.
Accommodation
Ground Floor - 85.28 sq m (918 sq ft)
Lower Ground Floor - 44.87 sq m (483 sq ft)
TOTAL - 130.15 sq m (1,401 sq ft)
Terms
TERMS - The property is held on a lease expiring 13th December 2030 at a passing rent of £45,000 pax and subject to review on the 13th December 2025.
Further details available on request.
BUSINESS RATES:
Rateable Value : £29,750
Estimated Rates Payable : £14,845.25
Our estimate is calculated by applying the appropriate Business Rate Multiplier to the RV. It is, however, important that interested parties confirm the accuracy of this information and the actual rates payable with the Local Authority.
ENERGY PERFORMANCE - The property currently has an EPC rating of 115 within Band E.
VAT - 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
LEGAL COSTS - 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.
Specification
- Ground Floor of 85.30 sq m (918 sq ft)
- Lower Ground Floor of 45.00 sq m (483 sq ft)
- Located within the Prime Retail Pitch at the Heart of the City Centre
- Close to Tesco Express, Holland & Barratt, Caffe Nero, Tortilla, T4, Grape Tree & Lloyds
- Primary Retail Catchment c. 120,000 People, Estimated 5.5 Million Tourists pa, Durham University Student Numbers Rising to c.22,000 by 2025
- Available by way of Lease Assignment