LOCATION
Hexham is a market town in Northumberland with a population of around 12,000, set in the Tyne Valley approximately 23 miles west of Newcastle upon Tyne. Its position on the A69 corridor gives it strong road access east to the A1 and Newcastle, and west to Carlisle and the M6. The town also has its own mainline railway station on the Newcastle to Carlisle line, with regular services in both directions.
The town serves a wide rural hinterland across the Tyne Valley and North Pennines, giving it a catchment that extends well beyond its immediate population. Hexham is consistently ranked among the more prosperous towns in the North East, with above-average household incomes and low vacancy rates in its town centre.
The wider visitor economy, driven by Hexham Abbey, Hadrian’s Wall and the surrounding countryside, provides additional footfall throughout the year. The town is currently undergoing a programme of public sector investment in its built environment, including heritage restoration and public realm improvements funded by a grant of over £3.4m awarded in September 2024, as well as ongoing infrastructure upgrades to improve connectivity and accessibility within the town centre.
SITUATION
The property is situated on the east side of Fore Street, which forms the main Pedestrianised retail spine of Hexham town centre. The street runs north to south through the core of the town and connects to the wider retail offer including Cattle Market and Priestpopple, giving it a strong and consistent flow of pedestrian traffic throughout the week.
The immediate vicinity is well occupied by a mix of national multiples and independent retailers. The property sits directly adjacent to WH Smith, with Boots, Specsavers, Superdrug, Waterstones, Mountain Warehouse, Greggs, Costa Coffee, Sea Salt, White Stuff
and Card Factory all trading in close proximity. This depth of national representation reflects the quality of the pitch and its appeal to occupiers seeking a proven out-of-city retail location.
DESCRIPTION
The property comprises two adjoining commercial units fronting Fore Street. Number 36 provides a multi-floor coffee shop arranged over basement, ground, first and second floors, occupied by Nero Holdings Limited trading as Caffè Nero. Number 36A provides a self-contained ground floor unit currently in use as an independent phone repair and accessories shop. Together the units extend to approximately 280.8 sq m (3,020 sq ft).
TENANCY INFORMATION
Number 36 is let to Nero Holdings Limited (trading as Caffè Nero) on a new five-year full repairing and insuring lease commencing 19 May 2026 and expiring 18 May 2031, at a passing rent of £27,250 per annum, re-based from the previous passing rent. The lease is subject to a tenant-only option to break at the end of the third year (18 May 2029).
Number 36A is let to a private individual on a lease expiring 31 July 2029 at a passing rent of £6,000 per annum. The combined total rent reserved is £33,250 per annum.
TENURE
The property is held freehold with title number ND68600
VAT
The property is elected for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).
ENERGY PERFORMACE CERTIFICATE
TBC.
PROPOSAL
Offers are sought in excess of £415,000 (Four Hundred and Fifteen Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 7.68% assuming purchasers’ costs of 4.27%.
