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, WHSmith, White Stuff, 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
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, WHSmith, White Stuff, Boots the Chemist and Superdrug.
Tenure
Freehold.
Description
The property 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.
Planning
Planning Permission was granted in January 2020 for proposed installation of new shop front to Fore Street; alterations to rear elevations to St Mary's Chare & internal alterations to subdivide the property into two retail units. Northumberland County Council t: 0345 600 6400 (www.northumberland.gov.uk) REF: 19/04327/FUL
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property 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.
Planning
Planning Permission was granted in January 2020 for proposed installation of new shop front to Fore Street; alterations to rear elevations to St Mary's Chare & internal alterations to subdivide the property into two retail units. Northumberland County Council t: 0345 600 6400 (www.northumberland.gov.uk) REF: 19/04327/FUL
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Ground First Second
Retail/Ancillary Ancillary Ancillary
413.05 356.84 70.79
(4,446) (3,841) (762)
ICELAND FOODS LIMITED (1)
1 year from 24/06/2022 with a mutual option to determine on 15/01/2023 or any date thereafter on a full repairing and insuring lease
£54,000
Total
840.68
(9,049)
£54,000
(1) For the year ending December 2021 , Iceland Foods Limited reported a turnover of £3,715,300,000, a pre-tax profit of £73,100,000 and a shareholders funds of £721,700,000 (Source: Experian Group 15/06/2022). Iceland Foods was founded in 1970 and now has over 900 stores throughout the UK. (2) Elevated from the provisions of Sections 24-28 of the 1954 Landlord & Tenant Act
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
