10 Hope Street, Crook, County Durham, DL15

Location

The property occupies a prominent position on Hope Street within the established retail core of Crook, an affluent market town in County Durham serving a wide rural and residential catchment.

Crook lies approximately 9 miles south-west of Durham and benefits from good regional connectivity via the A690 and A68, providing convenient access to the wider North East including Bishop Auckland and Spennymoor.

Hope Street forms part of the town’s principal retailing pitch and accommodates a strong mix of national multiple and established local occupiers. The immediate vicinity benefits from consistent pedestrian footfall driven by the surrounding dense residential catchment and the town’s role as a key local service centre.

The property benefits from nearby public car parking and good accessibility, supporting the long-term retail viability of the location and underpinning the strength of the tenant’s trading position.

Description

Investment Summary – 10 Hope Street, Crook (Ground Floor)
Secure income to a national covenanted tenant – Hays Travel Ltd

Passing rent: £7,250 per annum
10year lease from 29 November 2019
Tenant break at year 5 (exercisable Nov 2024 – now expired)
Full Repairing & Insuring liabilities
Prime position on Hope Street in Crook town centre

A rare opportunity to acquire a lowrisk, affordable highstreet investment let to the UK’s largest independent travel agent. Strong covenant strength, established trading position, long-term lease security and a simple management profile make this an ideal hands-off investment.


Tenant Summary – Hays Travel

Overview

Hays Travel is the UK’s largest independent travel agency and one of the country’s most recognisable high-street travel brands. Founded in 1980 and headquartered in Sunderland, the business has grown into a nationwide retail network with a strong reputation for customer service and financial resilience.

Business Strength

Market position: Largest independent travel agent in the UK

Established: 1980 (45+ year trading history)

Ownership: Privately owned by the Hays family

Core offering: Package holidays, cruises, flights and foreign exchange

Brand recognition: National high-street presence with strong consumer trust

Scale & Footprint

Retail network: 450+ branches across the UK (significantly expanded following the acquisition of former Thomas Cook Group stores in 2019)

Employees: c.6,000+ staff nationwide

Head office: Sunderland, England

Model: Predominantly bricks-and-mortar high street stores supported by online sales

Covenant & Trading Profile

Demonstrated ability to expand during market disruption (notably the 2019 store acquisition)

Strong recovery in UK outbound travel demand post-pandemic

Vertically integrated with its own tour operating arm (Hays Tour Operating) supporting margins

Historically profitable and cash-generative private business (accounts available via Companies House)

Why They Are Viewed as a Strong Tenant

Long-established national brand with loyal customer base

Defensive positioning in the resilient UK leisure travel sector

Significant physical store commitment versus online-only competitors

Family ownership often viewed positively for long-term occupancy stability

Active high-street occupier continuing selective expansion


1 Bedroom Flat

The property comes with a One Bedroom flat on the first floor. The property is currently vacant however was previously let at £450 per calender month / £5,400 per annum.

Total potential income of £12,650 per annum.

TERMS:

A purchase at this level reflects an Inital Yield of 8.38%

Offers are invited for the site.

Our client does not have to accept the highest nor any offer submitted to the agent.

Each party is to bear their own legal costs involved in the transaction.

VIEWING & FURTHER INFORMATION:
For all enquiries and viewing arrangements, please contact Bradley Hall.