Heron Foods Front Street Sacriston, Durham County Durham DH7 6JT

Heron Foods
Front Street
Sacriston, Durham
County Durham
DH7 6JT

Freehold Retail Investment

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
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Retail Investment

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

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

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).