Spar, Kelloe

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.)