Entirely let to Heron Foods Limited on a new 15 year lease from completion
Guaranteed Rental Increases with Rent Reviews linked to Consumer Price Index (CPI) (subject to a minimum of 1% and a maximum of 3%)
Substantial building totalling approximately 1,249.50 sq m (13,450 sq ft) with adjoining car park
Neighbouring occupiers include Tesco Express, William Hill and Post Office
Lot 14
Auction 25th May 2017
Rent £38,000 per Annum Exclusive
Status Sold
Price £525,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
4 miles north-west of Durham City Centre, 15 miles south of Newcastle
Roads
A1(M), A691, A167
Rail
Durham Railway Station
Air
Newcastle International Airport
Situation
The property is situated on the west side of busy Front Street in the heart of Sacriston, adjacent to the Fulforth Community Centre and Sacriston Cricket Club. Neighbouring occupiers include Tesco Express, William Hill and The Post Office.
Tenure
Freehold.
Location
Miles
4 miles north-west of Durham City Centre, 15 miles south of Newcastle
Roads
A1(M), A691, A167
Rail
Durham Railway Station
Air
Newcastle International Airport
Situation
The property is situated on the west side of busy Front Street in the heart of Sacriston, adjacent to the Fulforth Community Centre and Sacriston Cricket Club. Neighbouring occupiers include Tesco Express, William Hill and The Post Office.
Tenure
Freehold.
Description
The property comprises a substantial ground floor supermarket with ancillary accommodation on the first floor. The property also benefits from a loading bay and a customer car park to the side of the property for approximately 18 cars.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a substantial ground floor supermarket with ancillary accommodation on the first floor. The property also benefits from a loading bay and a customer car park to the side of the property for approximately 18 cars.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground First
Retail Ancillary
749.70 sq m 499.80 sq m
(8,070 sq ft) (5,380 sq ft)
HERON FOODS LIMITED (1)
15 years from completion on a full repairing and insuring lease
£38,000
Rental increases linked to CPI (subject to minimum of 1% and a maximum of 3%) 5 yearly annually compounded
Total
1,249.50 sq m
(13,450 sq ft)
£38,000
(1) Heron Foods Ltd was incorporated in 1978 and operates from some 250 outlets nationwide. For the year ending 31/12/2015, Heron Foods Ltd reported a turnover of £252,520,329, pre-tax profits of £1,854,186 and a total net worth of £30,228,203 (Source: Experian Group 24/04/2017).
