Prime Retail Investment, Hexham
27/29 Fore Street, Hexham, Northumberland, NE46 1LU
Investment
£465,000 for the Freehold
For Sale
Under Offer
Chris Donabie
Interested in this property?
Please contact me
chrisdonabie@naylors.co.uk 0191 232 7030
Find out more
About the property
The building comprises a Grade II Listed, three-storey mid terraced retail property. It is of traditional construction beneath a predominantly pitched slate roof.
The property fronts directly onto Hexham's Fore Street, providing strong visibility and consistent footfall.
Superdrug occupies the entire building, with the ground floor operating as the main retail area and the upper two floors used for staff facilities and storage.
The ground floor retail area has been fitted out to the corporate style of Superdrug.
Key features
Rarely available prime retail investment on Hexham's main and pedestrianised retail street
Let to the undoubted covenant of Superdrug Stores Plc
New 5-year lease expiring 23 February 2031 with tenant break at third anniversary
Rebased rent of £37,700 per annum
Offers over £465,000
A purchase at this level shows a net initial yield of 7.76% after allowing for purchaser costs
No VAT
Lease renewal showing tenant commitment to the property and the area
Ideal for a SIPP purchase
Location
Hexham is a historic and busy market town in Northumberland benefitting from a mix of national and local retail occupiers in its busy town centre.
Hexham sits within one mile of the A69 trunk road affording direct access to the A1 and Newcastle upon Tyne, approximately 25 miles to the east and Carlisle and the M6 motorway 38 miles to the west.
The property is also located close to Hexham's main bus station and a short walk from its train station with frequent daily trains east to Newcastle and west to Carlisle. Accordingly Hexham is a convenient commuter town for Newcastle upon Tyne.
The property is situated on Fore Street in the busy retail centre of Hexham's town centre. Fore Street is pedestrianised and comprises the prime retail street in Hexham, and accordingly benefits from a strong footfall.
Surrounding occupiers include:
- Seasalt
- White Stuff
- Greggs
- Waterstones
- Cafe Nero
- Mountain Warehouse
- Boots
Terms
Freehold.
