Freehold Retail Investment
Freehold Retail Investment
Birtley is a predominantly residential suburb of Gateshead, 2 miles north of Chester-le-Street, 8 miles north of Durham and 4 miles south of Gateshead. The town benefits from its close proximity to the A1(M). The property is located in a prominent roadside position on the A167 Durham Road, close to its junction with Harras Bank Road near to the Lord Lawson Academy. The property is adjacent to a Jet petrol station, with other occupiers nearby including Morrisons and Subway.
Freehold.
Birtley is a predominantly residential suburb of Gateshead, 2 miles north of Chester-le-Street, 8 miles north of Durham and 4 miles south of Gateshead. The town benefits from its close proximity to the A1(M). The property is located in a prominent roadside position on the A167 Durham Road, close to its junction with Harras Bank Road near to the Lord Lawson Academy. The property is adjacent to a Jet petrol station, with other occupiers nearby including Morrisons and Subway.
Freehold.
The property comprises a large ground floor shop with sales, staff and ancillary accommodation. The property benefits from on-site car parking. Approximate site area 0.62 acres (0.3 hectares).
VAT is applicable to this lot.
Six Week Completion
Band B. See legal pack at www.acuitus.co.uk
The property comprises a large ground floor shop with sales, staff and ancillary accommodation. The property benefits from on-site car parking. Approximate site area 0.62 acres (0.3 hectares).
VAT is applicable to this lot.
Six Week Completion
Band B. See legal pack at www.acuitus.co.uk
| Floor | Use | Gross Internal Floor Areas (Approx) |
Tenant | Term | Rent p.a.x | Review | |
|---|---|---|---|---|---|---|---|
| Ground First |
Retail Ancillary |
744.96 sq m 185.98 sq m |
(8,019 sq ft) (2,002 sq ft) |
B&M RETAIL LIMITED (1) |
10 years from completion on a full repairing and insuring lease |
£70,000 | 2024 (any uplift capped at 12% of passing rent) |
| Total |
930.94 sq m |
(10,021 sq ft) |
£70,000 | ||||
(1) For the year ended 31st March 2018, B&M Retail Limited reported a turnover of £2,629,145,000, pre-tax profits of £236,006,000 and a net worth of £600,542,000 (Source: Experian 12/06/2019). B&M was formed in 1978 and is now one of the leading variety retailers in the UK. From its first store in Blackpool, Lancashire, B&M has grown to over 600 stores and employs over 26,000 people (Source: www.bandmretail.com).
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