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.
Location
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.
Accommodation
Ground Floor
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)
WC Facilities
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).
Terms
TERMS - 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.
RATING ASSESSMENT - 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.
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 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