55 Cheapside, Spennymoor, County Durham, DL16

Location

55 Cheapside occupies a prime position in the heart of Spennymoor town centre, set within a busy mixeduse highstreet environment. Cheapside links directly to the High Street and King Street, placing the property among popular national and local retailers, cafés, and service operators. The location benefits from excellent footfall, supported by nearby amenities including Asda, Iceland, ALDI, and Spennymoor Library & Leisure Centre, all within a short walking distance.

Investment Summary
Let to national covenant – Hays Travel Ltd
Passing rent: £9,250 per annum
10year lease from 29 November 2019 (expiry 2029)
Tenant break at year 5 (Nov 2024) Expired
FRI lease (internal repairing subject to Schedule of Condition)

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
TERMS:
A purchase at this level reflects an Inital Yield of 8.11
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.