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Iceland, Houghton-Le-Spring

15 Newbottle St, Houghton le Spring DH4 4AP, UK

Basic Facts

Property ID: 13626 Post Updated: 2023-06-05 09:49:27
Status: Type:
Tenure: Freehold Area: 1292.70 sq ft
Gross Rent: £ 65,000 Lease Term: 10 years from Mar '21
Lease Term Expiry Date: 21/04/30 Years left on Lease: 5.9

Property Description

  • Freehold Blue-Chip Supermarket Investment.
  • The premises comprise an end of terrace retail unit arranged over ground, first and second floors and benefit from a rear loading bay.
  • The property is situated fronting the main retail thoroughfare of the town where national occupiers including: Superdrug, Savers, Greggs, Ladbrokes, William Hill, Heron Frozen Foods and B&M have representation.  The Premises benefit from rear servicing and the free public car park to the rear.

Location Description

  • Houghton-Le-Spring is a town in the City of Sunderland, Tyne and Wear, North East England.
  • It is situated almost equidistant between the cathedral city of Durham 7 mile (11 Km) southwest and Sunderland about 7 mile (11 Km) northeast.  The town of Seaham and the North Sea lie about 5 mile (8Km) directly east.

Tenancy & Additional Information

  • Let to Iceland’s Foods Limited on a 10 year FRI from 22nd March 2021 at a current rent of £65,000 p.a.  Fixed increase at year 5 to £70,000 p.a.

Features

£1m - £5m
Blue-chip tenant
Customer car parking
Finance available
Suitable for a SIPP

View on Map

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