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Consett – Retail Investment

43 Middle Street, Consett, DH8 5QP

  • Offers in the region of

£145,000

Property Features

  • Busy town
  • Prime location on the pedestrianised Middle Street
  • New 5 year lease
  • Tenant operates a busy cafe
  • Current Rent - £14,000 pax
  • Price - £145,000
  • Net Initial Yield – 9.5%
  • Ideal SIPP purchase
Gross Frontage
7.43m
24'0''
Net Frontage
6.50m
21'4''
Internal Width
6.55m
21'6''
Shop Depth
17.70m
58'1''
GF Sales
108.41 sq.m
1,167 sq.ft.
FF Staff/Stock
40.88 sq.m.
440 sq.ft.
£13,250
View Brochure

Location

Description

The principal retailing in Consett is focused on Middle Street with many national retailers represented including Specsavers, Superdrug, Greggs, Halifax, Ladbrokes, British Heart Foundation, Iceland and Lidl.

The property occupies a prime location on the pedestrianised section of Middle Street, adjacent to Specsavers, opposite Greggs and the entrance to the Derwent Shopping Centre. There is a free public car park for approximately 100 cars on Nile Street, behind the subject property.

The propertry is two storey of stone construction with a pitched dormer roof and Edwardian style railing detail.  There is a stone ledge running along the front of the building and sliding sash single glazed windows.

The ground floor provides retail sales with first floor stock and staff facilities.   The ground floor has been fitted out as a café by the current tenant. There is an enclosed service yard to the rear.

The property is let to Patterson Vintage Tearooms Ltd on a 5 year FRI lease from 26th July 2021 at a current rental of £14,000 per annum exclusive.

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Agent Details

Tom Grimshaw

BSc (Hons) MRICS

Surveyor

07827 965146
tom@bht.uk.com

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