Spar, Kelloe

 

Front Street, Kelloe, Durham, DH6 4PD

Offers in excess of
N/A
Sold
Type - Commercial
Tenant type - Supermarket
  • Tenure: Freehold
  • Gross Rent: £25,000
  • Lease Term: 10 years from Jul '16
  • VAT applicable?: Y

Property Description

  • Freehold Blue-Chip, Convenience Store Investment
  • The property occupies a site area of 0.083 hectares (0.2 acres) and is arranged on ground floor and basement to provide a convenience
    store with basement storage.
  • Externally, the property benefits from
    customer parking to the front.

Location Description

  • The attractive village of Kelloe is located some 12.5 north-miles west of the coastal town of Hartlepool and some 6.8 miles south-east of Durham.
  • The town is conveniently situated some 2.5 miles south-east of Junction 61 of the M1 Motorway.
  • The property is located on the south side of Front Street, the main thoroughfare of the village, which comprises a mixture of commercial and residential property.
  • The property acts as the principal convenience store in the village, whilst there is a pharmacy and post office opposite.
  • Kelloe & District W.M. Club is close by and Kelloe Primary School lies some 0.2 miles north of the property.

Additional Notes

  • The entire property is at present let to NORTH EAST CONVENIENCE STORES LIMITED for a term of 10 years from 21st July 2016 at a current rent of £25,000 per annum.
  • The lease provides for rent reviews every fifth year of the term and contains full repairing and insuring covenants.
  • North East Convenience Stores is a wholly owned subsidiary of James Hall & Company Limited who employ more than 800 staff and are a wholesaler and distributor for SPAR, serving over 600 stores in the North of England. Website Address: www.jameshall.co.uk.
  • For the year ended 30th November 2015, North East Convenience Stores Limited reported a turnover of £29.7m, a pre-tax profit of £1.379m, shareholders’ funds of £2.059m and a net worth of £1.608m. (Source: Experian 04.01.2017.)

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