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

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

  • 17/19 & 21 Fore Street and 10/12 & 14 St Mary's Chare<br>Hexham<br>NE46 1LU

Freehold Supermarket Investment & Development Opportunity

  • Entirely let to Iceland Foods Limited
  • Tenant in occupation since 2009
  • Re-based rent with recently extended lease
  • Approx. 9,049 sq ft
  • Change of Use/Development Potential with recent planning to split the shop units
  • Affluent and Historic Market Town
  • Lot
    19
  • Auction
    12/Jul/2022
  • Rent
    £54,000 per Annum Exclusive
  • Status
    Available
  • Price*
    £695,000
  • Sector
    Supermarket
  • Auction Venue
    Live Streamed Auction
  • Expand
  • Photos
  • Map

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

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, 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
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, 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 £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    22.06.22
    File Size
    33 MB
    Login to View
  • Brochure
    Updated Date
    22.06.22
    File Size
    3 MB
    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

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Edward MartinEdward Martin +44 (0)20 7034 4854 +44 (0)7478 673 535edward.martin@acuitus.co.uk
Seller's Solicitors
Druces LLP Salisbury House, London Wall
London
EC2M 5PS
Karen Chapman +44 (0)20 7216 5591k.chapman@druces.com

Useful Links

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

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