Land for sale

Front Street, Chester-Le-Street, County Durham DH3

Front Street, Chester-Le-Street, County Durham Dh3

High yielding retail investment let to Lloyds Bank and occupying a prominent High Street position. Arranged across ground and first floors, the property is fully let to Lloyds Bank Plc on a 10 year lease expiring 31/10/2028 and producing £25,000 per annum. The property benefits from a rear yard and the tenant also occupies the adjacent unit.
The property benefits from a prominent frontage to Front Street, the principal retail amenity in the town. The street is characterised by a mix of local and national tenants including Costa, Specsavers and Boots. There is also a large Morrisons supermarket to the rear of the property.

Area:

Ground floor: 127.6 sq m / 1,373 sq ft

First floor: 67 sq m / 721 sq ft

Total size: 194.6 sq m / 2,094 sq ft

Tenancy:

The property is fully let to Lloyds Bank Plc on a 10 year full repairing and insuring lease expiring 31st October 2028 and producing £25,000 pa.

Terms: Available freehold at £195,000 subject to the tenancy detailed above and producing a gross initial yield of 12.54%.