122a Lumley Close, Washington
Business rates & charges may apply
- SIZE
Ask agent
- SECTOR
Commercial property for sale
Key features
- High Yielding Retail Investment
- Let to a Private Individual t/a Lush Tanning
- Lease Expires 21.09.2025
- Asset Management Potential Via Renewal
- Approx. 1,286 sq ft (119.5 sq m)
- Investment Let at £6,000 p.a. (16% GIY on Guide Price)
Description
Arranged as a ground floor retail unit totalling approx. 1,286 sq ft (119.5 sq m), the property is let to a private individual t/a Lush Tanning on a three year lease expiring 21.09.2025 and paying £6,000 per annum.
We consider the property may benefit from asset management potential via renewal of the lease and improvement of rents. The nearby 133 Lumley Close is currently let at £6,500 per annum reflecting £9.48 per sq ft. A letting of the subject property at this level would reflect approx £12,000 per annum.
The property comprises part of the principal retail amenity for the surrounding residential area. Furthermore the property fronts the only pedestrian route crossing the A182 and providing access to the Galleries Shopping Centre.
Brochures
122a Lumley Close, Washington
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Chester-le-Street Station3.4 miles
- Pelaw Metro Station3.6 miles
- Heworth Station3.7 miles
Notes
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