Property description
SITUATION
Brandon is County Durham village located approximately 3
miles South West of Durham City Centre. Brandon benefits from
good public transport links and is within close proximity of the
A690 Wear Valley to Sunderland road which crosses the A167
(former Great North Road) at Nevilles Cross and also links onto
the A1(M) Motorway at Carrville.
DESCRIPTION
The subject property comprises a single storey, end terrace,
retail unit of traditional brick construction under a flat felt roof.
The property benefits from uPVC double glazing throughout
as well as mechanical roller shutter doors to all windows and
doors.
Internally the unit provides 48 m2 (517 f2 ) of open sales solid
together with a 28 m2 (301 f2 ) dispensary/internal storage
room and a small consulting room. The property has
concrete floors, suspended ceilings with fluorescent strip
lighting throughout.
TENANCY
The property was let in June 2008 on a 15 year full repairing
and insuring lease at an annual rent of £8,000 per annum and is
subject to 5 yearly upward only rent reviews.
TENANT PROFILE
Lloyds Pharmacy is a leading community pharmacy and
healthcare provider with over 1,650 pharmacies across the
UK, mainly in community and health centre locations. Lloyds
employ approximately 17,000 staff and dispense over 150
million prescription items every year. In 2010 Lloyds
Pharmacy had a turnover of £1.8 billion.
Further information can be found on the company website at
http://www.lloydspharmacy.com/
ASKING PRICE
Our client is seeking offers in the region of £120,000 for the
benefit of their freehold interest.
RATING ASSESSMENT
We understand that the rating assessments on the premises as
at 1 April 2010 is as follows, although we would advise that
some assessments may have been the subject of appeals and
any interested party should confirm the current position with the
Local Authority.
Description
RV
UBR
Shop & Premises
£3,500
47.1p
ENERGY PERFORMANCE
Awaiting EPC rating.
LEGAL COSTS
Each party is to bear their own legal costs involved in the
transaction.
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.
Property Features :
- Tenant is part of a National Pharmacy Chain
- Adjacent to Brandon Lane Surgery
- Annual rental income of £8,000 until 2023 on FRI terms
- On street car parking available
- Open sales area of 47.8 sq m (514 sq ft)