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477/479 Durham Road, Gateshead, Tyne And Wear, NE9 5EX

£675,000

£89.87 per sq ft

Business rates & charges may apply

Naylors Gavin Black LLP, Newcastle Upon Tyne
SIZE AVAILABLE

7,511 sq ft

698 sq m

SECTOR

High street retail property for sale

Key features

  • Prominent Retail Unit
  • Popular suburban retail location
  • Let to Heron Foods Ltd
  • £675,000 equating to 6.33% after costs
  • Freehold
  • No VAT

Description

Location

The property is located on the east side of the busy and popular Durham Road in the affluent suburb of Low Fell, Gateshead. Nearby retail operators include Greggs, Co-Op and Savers together with many successful local traders and leisure operators. There is the Lowrey's Lane car park nearby.

Description

The retail store has been recently refurbished and the first floor premises are used for storage use with a goods lift.

Tenure Comments

The entire property is let to Heron Foods Ltd who have been in occupation for over 30 years on a new lease dated 15th January 2024 for a term to expire on the 14th January 2034, subject to a tenant only break clause on the 14th January 2029. The current passing rent is £45,000 per annum exclusive.

There is an upwards only rent review on the 15th January 2029 with a maximum uplift to 12.5% i.e £50,625 per annum exclusive.

Heron Foods Ltd have a Delphi score of 100 i.e Very Low Risk.

Brochures

477/479 Durham Road, Gateshead, Tyne And Wear, NE9 5EX

Open mapStreet View

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Gateshead Stadium Tram Stop1.5 miles
  • Felling Metro Station1.6 miles
  • Dunston Station1.9 miles

About Naylors Gavin Black LLP, Newcastle Upon Tyne

One Strawberry Lane Newcastle Upon Tyne NE1 4BX

As commercial property specialists for the North East, Naylors have their head office in the heart of Newcastle. The firm was founded twenty years ago by Bill Naylor, managing director, and has retained its independence, growing to become one of the most respected practices in the area.

This is reflected in Naylors being invited to represent the North East through membership of PAI, a prestigious organisation of like-minded professionals covering most of the Uk.

Today, Naylors handle a wide range of commercial and industrial properties in an area that stretches from Yorkshire to Northumberland and beyond. Our client list includes every kind of organisation from public bodies and national chains to local SME companies.

It is the quality of our people that makes the difference. Fully qualified professionals with a commitment to their clients’ interest and the in-depth knowledge to provide a tailor-made service.

Notes

These notes are private, only you can see them.

Disclaimer - Property reference 3235FH. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Naylors Gavin Black LLP, Newcastle Upon Tyne. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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