Retail premises for sale in 10 Victoria Road, Consett DN8

£450,000 (£69.66/sq. ft)
Interested in this property? Call +44 1522 397760 * or Request Details

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Retail premises for sale 6,460 sq. ft*

Property description

The property is a modern purpose built two storey retail unit in a prominent location ideally situated between the bus station, The Victoria Centre, large shopper car park and on the main route to the pedestrianised shopping pitch – Middle Street.

Retailers close by include Lidl, Iceland, Argos, Home Bargains and BetFred.

EPC: C65


Location


Consett is a busy town in North West County Durham, sitting on the edge of the Pennines. Its origins arise from both lead mining in the area and the development of the steel industry in the Derwent Valley.

Consett lies 14.7 miles (23.7km) south west of Newcastle upon Tyne, 13.2 miles (21.1km) north west of Durham and 32 miles (51.1km) north of Darlington. It has a resident population of 24,820 persons (2011 Census) and a district catchment of over 85,000.

The A1(M) is 13 miles (20.9km) from Consett and the town is served by the A692 which lies less than 0.5 miles (0.8km) from the town centre.


Services


We understand that mains supplies are available and connected to the property. These have not been tested and interested parties are advised to make their own investigations to the relevant utility service providers.


Town & country planning


We understand that the property has planning consent for its existing use under the Town & Country Planning (Use Classes) Order 1987 (as amended). Interested parties are advised to make their own investigations to the Local Planning Authority.


Tenancy


The property is let to Anglo Global Properties One Limited – T/a Peacocks by way of a 5 year lease from 12th April 2021 with a tenant break option exercisable on the 3rd anniversary on Internal Repairing and Insuring terms subject to a Schedule of Condition.

The rent passing is £45,000 per annum.


Tenant covenant


Anglo Global Properties Ltd. Company No. 13324423. Changed name in June 2021 to Peacocks Stores Properties Limited. Incorporated in April 2021. Peacocks were bought out of Administration by Edinburgh Woollen Mill’s Chief Operating Officer, Steve Simpson, with backing from an International Consortium in April 2021.


VAT


The property is elected for VAT and it is envisaged that the transaction will be treated as a togc.


Legal costs


Each party is to be responsible for their own legal costs incurred in documenting the transaction.

Property info

* Sizes listed are approximate. Please contact the agent to confirm actual size.

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For more information about this property, please contact
Banks Long & Co, LN1 on +44 1522 397760 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Banks Long & Co, and do not constitute property particulars. Please contact Banks Long & Co for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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