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Retail Property (high street) for sale

Unit 10, St Cuthberts Walk Shopping Centre

Under Offer £30,000

Property Description

Key features

  • Located in the Town's Only Covered Shopping Centre
  • Ground Floor Sales 126.2m2 (1358sqft) First Floor Ancillary 104.6m2 (1126sqft)
  • Incentives Available
  • Main frontage 10.9m (35ft) onto Front Street with extensive return frontage 17.49m (56ft) to Mall
  • New EFRI Lease for a Term to be Agreed
  • Rent From - 30,000pax

Full description

SITUATIONSt Cuthbert’s 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.DESCRIPTIONSt Cuthbert’s Walk Shopping Centre is the principle covered shopping centre in the heart of Chester-le-Street town centre extending to approximately 60,000sq ft with 370 car parking spaces anchored by the Morrisons food store with further lettings to Iceland Frozen Foods, Boots the Chemist Ltd and Thorntons.ACCOMMODATIONThe accommodation briefly comprises:Ground Floor Sales 126.2 m² (1,358 sq ft)First Floor 104.6 m² (1,126 sq ft)TERMSThe 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. The landlord insures the property and recovers a proportion of the annual insurance premium from each tenant.RATING ASSESSMENTWe 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 RVShop & Premises 42,000As a new occupier rights of appeal may exist against this assessment. For further information contact our Rating Department at this office.

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