ADDRESS13-16 North Burns, Chester Le Street, County Durham, DH3 3TS
TYPEOther, Other Property Types & Opportunities
TENUREBusiness for sale, Development Opportunity, Investment Opportunity, For Sale Freehold
POSTED ON13th May 2020
MIXED USE INVESTEMMENT - CHESTER LE STREET
Multi let investment property with strong tenant mix Four retail tenants including Domino's Pizza plus 7 office suites occupied by 5 different occupiers Property fully let Total rental income £80,115 per annum rising to £84,040 in 2020 Established and popular edge of town location, opposite the market place and close to Tesco Superstore We are instructed to seek offers in excess of £840,000 A sale at this level reflects a net initial yield of 9% rising to 9.5% in 2020 after allowing for usual purchasers costs
Chester le Street is a busy market town located in County Durham. It is located between Newcastle upon Tyne and Durham on the main east coast mainline railway, and also adjacent to the A1(M) motorway that links Newcastle and the north with Yorkshire and the south.
The property is situated on North Burns, at the northern end of Front Street.
Ample car parking is found to the front and rear of the property.
The property comprises a substantial detached two storey building with retail units to the ground floor and multi let offices to the first floor