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St. Cuthberts Walk, Chester Le Street, DH3

£28,500 pa

Property Description

Key features

  • Rental offers around £28,500 Per Annum
  • Located in the townís only covered shopping centre
  • Ground Floor Sales 128.3m≤ (1,381sq ft)
  • Occupants include Morrison's, Iceland, Boots and Peter's Bakers
  • Adjoining 370 Space Car Park
  • Incentives Available

Full description

SITUATION
St Cuthbertís Walk Shopping Centre is situated on Front Street the principle retail street in the market town of Chester-le-Street. Road communications to Chester-le-Street are excellent with access via the A167 to Durham and the South and the A692 to Stanley in the West.
Chester-le-Street also lies off junction 63 of the A1(M) providing excellent access to Newcastle, Gateshead, Darlington, Durham and all major road networks. Chester-le-Street also boasts a mainline railway station on the East coast mainline.

DESCRIPTION
St Cuthbertís Walk Shopping Centre is the principle covered shopping centre in the heart of Chester-le-Street town centre extending to approximately 60,000sq ft and adjoining a 370 space car park anchored by the Morrisonís Supermarket with further lettings to Iceland Frozen Foods, Boots the Chemist Ltd, Peterís Cathedral Bakers and Thorntonís Cafe.

ACCOMMODATION
Ground Floor 128.3 m2 (1,381 sq.ft)

TERMS
The property is available by way of a new effective full repairing and insuring lease for a term of years to be agreed subject to a 3 or 5 yearly upward only rent reviews. The tenants are to be responsible for internal repairs together with all repairs to doors and windows and with the landlord responsible for all external repairs having a right to recover a proportion of these costs together with the cost of maintenance and repair of the common areas, management and security by way of a service charge (Unit 2 contribution for 2011 budgeted at £6,154.12 per annum). The landlord will insure the property and recover a proportion of the annual insurance premium from each tenant.

RATING ASSESSMENT
We understand that the rating assessments on the premises as at 1 April 2010 is as follows, although we would advise that some of the assessments may have been the subject of appeals and any interested party should confirm the current position with the Local Authority.

Description RV UBR
Shop & Premises £22,750 £0.433

As a new occupier rights of appeal may exist against this assessment. For further information contact our Rating Department at this office.

LEGAL COSTS
The ingoing tenant is to be responsible for our clients reasonable legal costs involved in the transaction.
VAT
All rents, premiums and purchase prices quoted herein are exclusive of vat.

All offers are to be made to Bradley Hall upon this basis and where silent, offers will be deemed net of vat.

VIEWING
For general enquiries and viewing arrangements please contact sole agents Bradley Hall Chartered Surveyors.

AGENTS NOTES
You may search our company website www.bradleyhall.co.uk for details of all our current instructions.
In accordance with the Code of Leasing Business Premises: England and Wales the landlords are willing to consider alternative lease terms to those set out above but please bear in mind that variations may affect the level of rent proposed.
A copy of the Code of Leasing Business Premises: England and Wales can be obtained at www.leasingbusinesspremises.co.uk or obtained from the Royal Institution of Chartered Surveyors, Telephone 0207 334 3806.



More information from this agent

To view this property or request more details, contact:

Bradley Hall Chartered Surveyors, Newcastle upon Tyne - Commercial

14-16 Grey Street Newcastle Upon Tyne NE1 6AE

0191 687 0028 Local call rate

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