17, 19 and 21 Fore Street & 10, 12 and 14 St Mary's Chare Hexham Northumberland NE46 1LU

17, 19 and 21 Fore Street & 10, 12 and 14 St Mary's Chare
Hexham
Northumberland
NE46 1LU

Freehold Supermarket Investment

Entirely let to Iceland Foods Limited
Tenant in occupation since 2009
Nearby retailers include Greggs, Costa Coffee, Caffè Nero, Edinburgh Woollen Mill, Waterstones, WHSmith, White Stuff, Phase Eight, Boots the Chemist and Superdrug
Affluent and historic market town

Lot
43
Auction
11th July 2019
Rent
£108,000 per Annum Exclusive
Status
Sold
Price
£750,000
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN

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Freehold Supermarket Investment

Entirely let to Iceland Foods Limited
Tenant in occupation since 2009
Nearby retailers include Greggs, Costa Coffee, Caffè Nero, Edinburgh Woollen Mill, Waterstones, WHSmith, White Stuff, Phase Eight, Boots the Chemist and Superdrug
Affluent and historic market town

Lot 43
Auction 11th July 2019
Rent £108,000 per Annum Exclusive
Status Sold
Price £750,000
Sector
Supermarket/Convenience
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN

Property Information

Location

Miles: 22 miles west of Newcastle-upon-Tyne; 30 miles east of Carlisle; 97 miles south east of Edinburgh
Roads: A1 (M), A68, A69
Rail: Hexham Train Station (Newcastle -32 mins, Carlisle - 48 mins)
Air: Newcastle International Airport

Situation

Hexham is a picturesque and historic market town a few miles east of Hadrian's Wall, and 22 miles west of Newcastle-upon-Tyne. The town is a popular base for commuters from Newcastle and tourists visiting Northumberland and has a district population of approximately 60,000. The property is located in a prominent position on the west side of Fore Street, the primary retailing thoroughfare in Hexham. Nearby retailers include Greggs, Costa Coffee, Caffè Nero, Edinburgh Woollen Mill, Waterstones, WHSmith, White Stuff, Phase Eight, Boots the Chemist and Superdrug.

Tenure

Freehold.

Location

Miles: 22 miles west of Newcastle-upon-Tyne; 30 miles east of Carlisle; 97 miles south east of Edinburgh
Roads: A1 (M), A68, A69
Rail: Hexham Train Station (Newcastle -32 mins, Carlisle - 48 mins)
Air: Newcastle International Airport

Situation

Tenure

Freehold.

Description

The property, which is part Grade II listed and in a conservation area, comprises a three storey building arranged as sales accommodation on ground floor and ancillary accommodation on the first and second floors. The property benefits from having a significant retail frontage to Fore Street.

VAT

VAT is applicable to this lot.

EPC

Band C. See legal pack at acuitus.co.uk

Description

VAT

VAT is applicable to this lot.

EPC

Band C. See legal pack at acuitus.co.uk

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x
Ground First Second	Retail Ancillary Ancillary	395.00 sq m 334.60 sq m 72.50 sq m	(4,250 sq ft) (3,600 sq ft) (780 sq ft)	ICELAND FOODS LIMITED (1)	5 years from 10/01/2015 (2) on a full repairing and insuring lease	£108,000
Total		802.10 sq m	(8,630 sq ft)			£108,000

(1) For the year ending 30th March 2018, Iceland Foods Limited reported a turnover of £2,972,900,000, a pre-tax profit of £32,800,000 and a total net worth of £774,900,000 (Source: Experian Group 11/06/2019). Iceland Foods was founded in 1970 and now has over 900 stores throughout the UK (Source: www.iceland.co.uk 11/06/2019).
(2) The tenant took an assignment in 2009 of the previous lease that expired on 24th October 2014 for a premium.