Retail premises to let in Town Centre, 35-37, Queensway, Billingham TS23

Billingham is a large town situated in County Durham in the North East of England. It has a resident population of 55,000 inhabitants within a 10 minute drive time. It is within a 20 minute drive from Middlesbrough (138,400) and Stockton on Tees (83,490).

Billingham town centre is a 320,000 sq ft open air retail scheme. Billingham is part of the Tees Valley Economic area, home to the largest integrated chemical complex in the UK. It’s reputation and continued strength in these international markets has allowed the town to retain a loyal and secure residential population who regularly shop in the centre and are benefiting from the recent investment in the town centre and surrounds.
Occupiers within the centre include Asda, Aldi, Boots, Boyes, B&M, Costa and Poundland.

Lease terms

The unit is offered on a new full repairing and insuring lease, subject to an upwards only rent review at the 5th anniversary of the lease at a rental of £55,000 per annum exclusive.

Service charge

The property has an annual service charge levy.
Details upon request.

Insurance

The property has a current annual insurance charge. Details upon request.

Rating assessment

We understand that the unit is assessed under the 2023 revaluation at £24,000. The current Uniform Business Rate for 2023/24 is 0.49 pence in the £.

Interested parties should verify the accuracy of this information and the rates payable with the Local Rating Authority.

Accommodation:
Retail Unit : 8,235.00 sqft