Marketed by
Naylors Gavin Black
Newcastle upon Tyne
Higham Pl, Newcastle upon Tyne NE1 8AF, UK
Under Offer
1 of 8
Guide Price
£1,545,000
Gilesgate Shopping Centre, Sunderland Road, Duham, DH1 2LH
16616 sq. ft (1543.68 m²)
Key features
- Established neighbourhood shopping centre anchored by Sainsbury's Supermarkets Ltd until August 2033
- Sainsbury's has been in occupation since October 2007 and last renewed in 2023
- Located in busy residential / commercial location
- Let to 7 tenants, offering a diverse mix of income
- Includes a 'free to use' car park
- WAULT to expiry 5.1 years (4.8 years to break)
- Virtual Freehold
- Total passing rent of £123,251 per annum, with growth prospects
- Seeking offers over £1.545m. This shows a net initial yield of 7.52% after standard purchaser's costs
Description
The property consists of a two-storey retail parade comprising of 8 units. The property is of brick construction with a flat roof. The retail units face onto the busy Sunderland Road, with loading areas to the rear. The upper floors are a mix of office and storage uses. Included with the property is an adjoining car park. The property has been improved during the period of the current ownership through several refurbishments and upgrades to the units and car park.It also benefits from most of the units having long established tenants.
Reference: 3410_sales
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Marketed by
Naylors Gavin Black
Newcastle upon Tyne
Higham Pl, Newcastle upon Tyne NE1 8AF, UK
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