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.)