Description
The Victoria Centre is an established retail warehouse scheme comprising a terrace of modern retail units occupied by a range of national operators including Iceland, Argos and Betfred.
The available accommodation extends to approximately 13,955 sq ft at ground floor level. The unit provides open plan accommodation with prominent frontage and strong visibility from both Victoria Road and the adjacent bus interchange.
The property benefits from dedicated rear servicing together with extensive customer parking immediately adjacent and is considered suitable for a variety of retail, discount retail, foodstore, leisure or trade counter uses, subject to the necessary consents.
Location
Consett is a substantial market town in County Durham, located approximately 13 miles north-west of Durham City and 14 miles south-west of Newcastle upon Tyne, with both cities accessible within approximately 20 minutes’ drive time.
The town benefits from strong road connectivity via the A692 and A691, with the A68 located approximately 2 miles to the west and the A1(M) approximately 12 miles to the east.
Consett serves a primary catchment population of approximately 48,000 people, extending beyond the town itself into surrounding villages and rural communities which rely on Consett as their principal retail destination. Ongoing residential development within and around the town continues to support population growth and consumer demand.
Terms
The property is available by way of a new effective full repairing and insuring lease for a term of years to be agreed at a commencing rent of £100,000 per annum exclusive.
Situation
The property occupies a prominent town centre position within the Victoria Centre, directly adjoining Consett Bus Station and immediately accessible from Medomsley Road. The bus station provides regular services to Durham, Newcastle, Stanley, Chester-le-Street and the surrounding catchment.
The immediate surrounding area comprises a strong mix of national retailers and town centre operators including Home Bargains, JD Wetherspoon, Superdrug, Greggs and Specsavers, reinforcing the location as one of the town’s principal retail pitches. The scheme also benefits from substantial customer parking and consistent pedestrian flow generated by the adjoining bus interchange.
Service Charge
A service charge is payable in respect of the upkeep, maintenance and management of the external common areas and shared parts of the scheme. We understand the current service charge provision is approximately £2.00 per sq ft per annum.
Business Rates
Rateable Value (effective 1 April 2026): £90,500
Estimated Rates Payable: £38,915 per annum.
Interested parties are advised to verify the above figures with the Local Authority.
VAT
All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Graham S Hall upon this basis and where silent, offers will be deemed net of VAT.
Legal Costs
Each party to bear their own.
Anti-Money Laundering Regulations
In accordance with anti-money laundering regulations, two forms of identification and confirmation of the source of funding will be required from the purchaser / tenant.
About Us
Established in April 2017, Graham S Hall Chartered Surveyors are a highly regarded independent firm of Chartered Surveyors and commercial property agents based in Durham.
We are passionate about property and getting the best results for our clients. We pride ourselves on hard work and giving good honest advice, irrespective of the fee and even when it might not be what the client wants to hear.
While our focus is primarily on sales, lettings and acquisition of retail, office, industrial and investment, we also offer extensive experience in asset management, development and lease advisory, such as lease renewal and rent review.
Our main core areas of work include:
Leasing and letting
Sale and purchase
Investment sale and purchase
Lease renewal and rent review
Asset management
Development
Consultancy
Expert witness
However big or small, we are ready to help. Talk to us today.
