Costa Coffee, Yoden Way Castle Dene Shopping Centre Peterlee Durham SR8 1AL

Costa Coffee, Yoden Way
Castle Dene Shopping Centre
Peterlee
Durham
SR8 1AL

Freehold Retail Investment

Purpose Built Single Storey Retail Unit
New 10 year Lease at a Rebased Rent
Trading as Costa Coffee
Prominent Situation within Prime Retailing Destination
Focal Point in Castle Dene Shopping Centre
Neighbouring Occupiers Include Iceland, Farmfoods, Poundland, Greggs, Subway and an Asda Superstore.

Lot
25
Auction
22nd September 2022
Rent
£35,000 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
Live Streamed Auction
On Behalf of a Major Investment Manager

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Freehold Retail Investment

Purpose Built Single Storey Retail Unit
New 10 year Lease at a Rebased Rent
Trading as Costa Coffee
Prominent Situation within Prime Retailing Destination
Focal Point in Castle Dene Shopping Centre
Neighbouring Occupiers Include Iceland, Farmfoods, Poundland, Greggs, Subway and an Asda Superstore.

Lot 25
Auction 22nd September 2022
Rent £35,000 per Annum Exclusive
Status Sold Prior
Price
Sector
High Street Retail
Auction Venue
Live Streamed Auction
On Behalf of a Major Investment Manager

Property Information

Location

Miles: 8 miles east of Durham, 11 miles south of Sunderland, 18 miles south of Newcastle
Roads: A19, A1806, B1320
Rail: Horden Railway Station
Air: Durham Tees Valley Airport, Newcastle International Airport

Situation

Peterlee, a predominantly residential suburb, is located 8 miles east of Durham, on the west side of the A19, equidistant from Middlesbrough to the south and Sunderland to the north. The property is prominently situated on Yoden Way in a central stand-alone building. Yoden Way is the prime shopping row in Peterlee's busy and popular Castle Dene Shopping Centre, situated in the main shopping location in the Easington District. Neighbouring occupiers include Iceland, CEX, Poundland, Greggs, Subway and an Asda Superstore.

Tenure

Freehold.

Location

Miles: 8 miles east of Durham, 11 miles south of Sunderland, 18 miles south of Newcastle
Roads: A19, A1806, B1320
Rail: Horden Railway Station
Air: Durham Tees Valley Airport, Newcastle International Airport

Situation

Tenure

Freehold.

Description

The property, purpose built in 2013, comprises a single storey stand-alone building benefitting from an extensive frontage with ground floor retail and ancillary accommodation.

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, purpose built in 2013, comprises a single storey stand-alone building benefitting from an extensive frontage with ground floor retail and ancillary accommodation.

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 sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.	Rent Review
Ground	Retai/Ancillary	153.60	(1,653)	SIM TRAVA (NORTH EAST) LIMITED t/a Costa Coffee (1)	10 years from 01/07/2022 (2)	£35,000	RPI Linked Rent Review on 01/07/2027 collar and cap of 1% and 3%
Total Approximate Floor Area		153.60	(1,653) (3)			£35,000

(1) Sim Trava (North East) Limited was incorporated in 2013. Sim Trava is a Costa Coffee franchisee with 39 locations across the north of England and was founded in 2004 (www.simtrava.co.uk).
(2) The lease provides the tenant the option to determine the lease on (01/07/2028)
(3) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk).

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.