Property description
SITUATION
The property is situated on Saddler Street on the inter section with Elvet Bridge. Saddler Street links the world heritage site of the Castle and Cathedral complex to the prime shopping area of the market place, Silver Street and land of The Prince Bishops Shopping Centre.
Elvet Bridge leads down over the River Wear to the Elvet area of Durham and the University. Nearby occupiers include Van Mildert Men’s & Ladieswear, Bramwell Jewellers, Natwest Bank, Coral Bookmakers, Zizzi, La Tasca and Pizza Express.
DESCRIPTION
The property comprises a mid terrace retail unit of masonry construction under a pitched tiled roof. Internally the property is arranged to provide attractive, well maintained retail space to the ground floor, together with internal storage and staff facilities to the first and second floors respectively.
ACCOMMODATION
Ground
Retail Sales
40 m2 (430 ft2)
First Floor
Internal Storage
18 m2 (194 ft2)
Second Floor
Staff Facilities
17 m2 (183 ft2)
Total NIA
75 m2 (807 ft2)
TERMS
The property is available by way of lease assignment. The lease is a full repairing and insuring lease with a rent payable of £42,000 per annum. The lease expires in September 2028 and is subject to 5 yearly upward only rent reviews and incorporates a once only tenant option to break in 2023.
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 of the 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
£35,250
48.2p
ENERGY PERFORMANCE
The property has an energy performance rating of 70 within Band C.
LEGAL COSTS
Either party to be responsible for any legal costs involved in the lease preparation.
Property Features :
- Lease assignment
- High footfall area
- Prominent position on intersection of Saddler Street & Elvet Bridge
- A1 Retail Use
- Total net internal area 75m2 (807ft2)