16 / 20 Front Street Chester le Street County Durham DH3 3DE

16 / 20 Front Street
Chester le Street
County Durham
DH3 3DE

Freehold Shop Investment

  • Let to Mackays Stores Limited (t/a M&Co) on a new 10 year lease (1)
  • Prominent town centre location
  • VAT-free Investment
  • Close to St Cuthberts Walk Shopping Centre
  • M&Co in occupation since 1982
  • Lot
    78
  • Auction
    11th July 2018
  • Rent
    £50,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £435,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On the Instructions of M&Co
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Shop Investment

  • Let to Mackays Stores Limited (t/a M&Co) on a new 10 year lease (1)
  • Prominent town centre location
  • VAT-free Investment
  • Close to St Cuthberts Walk Shopping Centre
  • M&Co in occupation since 1982
  • Lot 78
  • Auction 11th July 2018
  • Rent
  • Status Sold
  • Price £435,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On the Instructions of M&Co

Property Information

Location
Miles
8 miles north of Durham, 10 miles south of Newcastle
Roads
Al(M), A167, A692
Rail
Chester-le-Street Railway Station
Air
Newcastle Airport
Situation

The market town of Chester-le-Street is situated 8 miles north of Durham and 10 miles south of Newcastle. The town benefits from good road communications, being located close to the A1(M) motorway. The property is located in the town centre on Front Street, close to its junction with Cone Terrace. There are a number of public car parks close by. Occupiers nearby include Coral, Nationwide Building Society, Newcastle Building Society, Superdrug, Greggs, Costa and Boots.

Tenure

Freehold.

Location
Miles
8 miles north of Durham, 10 miles south of Newcastle
Roads
Al(M), A167, A692
Rail
Chester-le-Street Railway Station
Air
Newcastle Airport
Situation

The market town of Chester-le-Street is situated 8 miles north of Durham and 10 miles south of Newcastle. The town benefits from good road communications, being located close to the A1(M) motorway. The property is located in the town centre on Front Street, close to its junction with Cone Terrace. There are a number of public car parks close by. Occupiers nearby include Coral, Nationwide Building Society, Newcastle Building Society, Superdrug, Greggs, Costa and Boots.

Tenure

Freehold.

Description

The property comprises a ground floor shop with staff and storage accommodation. The first floor is void and not currently used.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a ground floor shop with staff and storage accommodation. The first floor is void and not currently used.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review
Ground

First
Retail &
Ancillary
Void
833 sq m
(8,966 sq ft)
MACKAYS
STORES
LIMITED
t/a M&Co (2)
10 years from completion
on a full repairing and
insuring lease subject to a
schedule of condition (1)
£50,000 2023
Total
833 sq m
(8,966 sq ft)
    £50,000  

(1) Tenant’s option to determine in the fifth year.
(2) For the year ended 24th February 2017, Mackays Stores Limited reported a turnover of £165,611,000, pre-tax profits of £1,100,000 and a total net worth of £36,441,000 (Source: Experian Group 12/06/2018). Mackays Stores Limited is one of the largest privatelyowned fashion retailers in the UK. Since inception in the 1960s, M&Co now trades from over 300 stores nationwide with a further 22 stores overseas.

Property Documents

  • Site Plan
    Updated Date
    18.11.19
    File Size
    2 MB
    View PDF
  • Catalogue Page
    Updated Date
    18.11.19
    File Size
    736 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Associate Auctioneers
Fawcett Mead 37/38 Margaret Street
London
W1G 0JF
Joe Baio 020 7182 7480 07807 182 7489joe@fawcettmead.co.uk
Seller's Solicitors
Keystone Law 48 Chancery Lane
London
WC2A 1JF
Stephen Kingsley 0203 319 3700stephen.kingsley@keystonelaw.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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