Offers in region of
£700,000
Property for saleWest Parade, Leadgate DH8
Freehold
About this property
Investment Opportunity
High Rental Yield
Strong Fri Leases in Place
Exceptional Freehold Commercial Investment – West Parade, Leadgate DH8
A unique opportunity to acquire a substantial freehold commercial property, ideally positioned on the bustling West Parade in Leadgate. Prominently located on the main frontage, close to Consett, this impressive former co-op building stands as a hub of local activity, benefiting from strong footfall and excellent exposure.
Comprising nine individual commercial units across two floors, this investment offers diversity and stability. Eight of the units are currently let on Fri leases to well-established local businesses, including a dance studio, two gyms (one for general fitness and another a dedicated boxing gym), a deli, beauty salon, convenience store, barbershop, and beauty clinic. The ninth unit is in use as a storage facility on a short-term licence, providing additional rental flexibility. The new shop fronts present a modern and inviting aspect, ensuring excellent kerb appeal for both tenants and their clientele.
The property generates a combined annual rental income of £73,700, presenting an attractive yield of 10.52% at the asking price. Furthermore, scheduled rent reviews as per the lease terms offer future growth potential.
Surrounded by thriving residential neighbourhoods, the property spans a generous area of approximately 1,216.79 sqm, as shown on site outline plans-offering ample space for commercial operations and potential future redevelopment (subject to necessary planning permissions).
This is a rare opportunity to acquire a high-yielding, well-maintained investment with an established tenant base in a busy and rapidly growing part of County Durham.
Viewings are strictly by appointment only. To register interest and discuss this exceptional opportunity further, please contact the office today.
A unique opportunity to acquire a substantial freehold commercial property, ideally positioned on the bustling West Parade in Leadgate. Prominently located on the main frontage, close to Consett, this impressive former co-op building stands as a hub of local activity, benefiting from strong footfall and excellent exposure.
Comprising nine individual commercial units across two floors, this investment offers diversity and stability. Eight of the units are currently let on Fri leases to well-established local businesses, including a dance studio, two gyms (one for general fitness and another a dedicated boxing gym), a deli, beauty salon, convenience store, barbershop, and beauty clinic. The ninth unit is in use as a storage facility on a short-term licence, providing additional rental flexibility. The new shop fronts present a modern and inviting aspect, ensuring excellent kerb appeal for both tenants and their clientele.
The property generates a combined annual rental income of £73,700, presenting an attractive yield of 10.52% at the asking price. Furthermore, scheduled rent reviews as per the lease terms offer future growth potential.
Surrounded by thriving residential neighbourhoods, the property spans a generous area of approximately 1,216.79 sqm, as shown on site outline plans-offering ample space for commercial operations and potential future redevelopment (subject to necessary planning permissions).
This is a rare opportunity to acquire a high-yielding, well-maintained investment with an established tenant base in a busy and rapidly growing part of County Durham.
Viewings are strictly by appointment only. To register interest and discuss this exceptional opportunity further, please contact the office today.
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