12 Cheapside, Spennymoor, DL16
£97.24 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
1,923 sq ft
179 sq m
- SECTOR
High street retail property for sale
Key features
- Popular High Street Location
- Investment Opportunity
- CPI Indexed Reviews
- Long Lease Term
Description
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
A longincome retail investment let on a 25year FRI lease from 26 January 2013 to 25 January 2038.
The property is occupied by K & S Retail Limited, providing secure income with minimal landlord obligations.
Key Financials & Lease Terms
Passing Rent:
£19,200 per annum, rent indexed via CPI every five years (2028, 2033, 2038) ensuring inflation linked growth.
Lease Term: 25 years, expiring 25 January 2038
Break Options: None—the lease contains no tenant or landlord break clause.
Tenant: K & S Retail Limited.
Repair Obligations: Full repairing and insuring (FRI) lease.
TERMS:
A purchase at this level reflects an Inital Yield of 10.00%
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.
Energy Performance Certificates
EPC Rating Graph12 Cheapside, Spennymoor, DL16
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Bishop Auckland Station4.3 miles
Notes
Disclaimer - Property reference CMR260066. 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 Bradley Hall, 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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