Restaurant/cafe to let in Aykley Heads, Durham DH1

Location

The subject property is situated off Aykley Heads Way, Aykley Vale, within Durham City Centre. The A690 is located 1.0 miles from the premises, providing quick access to the A1(M). The premises also benefits from great transport links with bus stops located within a 2-minute walk and Durham Train station only a 26-minute walk.

Aykley Heads is a unique City Centre development site which is set to be the catalyst for the Durham Innovation District. The new Innovation District, backed by Durham County Council and Durham University, will give businesses access to talent, research, networks, and resources within a setting that combines high quality infrastructure and amenity with a strong community feel. The area is already home to established businesses such as Atom Bank and Waterstones Ltd and is a short walk to the Milburngate Development.

Description

The subject property comprises of a three storey, brick built commercial property with pitch slate roof. The ground floor comprises of a restaurant area and bar as well as a kitchen and w/c. Rooms to the first floor have been utilised as additional seating arears that provide an opportunity for private dining and functions. The second floor consists of a staff office and toilet; however, this could also be utilised as additional seating. The property also has a basement that consists of internal storage and a mess/staff room. There are 17 car parking spaces plus additional parking available subject to adjacent office hours and a courtyard that has been utilised for additional seating.

Accommodation

We calculate the approximate net/gross internal floor areas to be as follows:

Ground Floor 190.40 m² 2,050 ft²
First Floor 48.10 m² 518 ft²
Second Floor 50.35 m² 542 ft²
Basement 84.30 m² 907 ft²

Total 373.15 m² 4,017 ft²

EPC rating

D95

Rating assessment

The rateable value of the premises as at 1 April 2023 is £41,750 and the estimated rates payable for the current year is £20,833.25. This is based on the standard Small Business Rate of 49.9p in the pound, however, interested parties should confirm the current position with the Local Authority.

Terms

The property is available by way of a new lease with terms to be agreed at a rent of £55,000 (Fifty-Five Thousand Pounds) per annum.

VAT

All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT.

Legal costs

Each party is to bear their own legal costs involved in the transaction.

Anti-money laundering regulations

In accordance with the Anti-Money Laundering Regulations we are required to verify the identify of the Purchaser/Tenant. We will do so based on name and address data provided but we may also require you to provide two forms of identification. We will require the Purchaser/Tenant to provide proof of the source of income.