44 Newgate Street, 44 Newgate Street, Bishop Auckland | Property for sale | Savills
Guide price £90,000

44 Newgate Street44 Newgate Street, Bishop Auckland

  • New
  • Sole agency
  • Freehold
Investment
Yield 17%Yield

Key features

  • High Yielding Retail Investment
  • New Three Year Lease to Holland & Barrett
  • Producing £15,000 per annum
  • Tenant in Occupation for 10+ Years
  • 4,046 sq ft (375.94 sq m)
  • Established and Popular Location
  • Guide Price Reflects 16.6% Gross Yield

Prominent High Street Property Let to Holland & Barrett on a New Three Year Lease at £15,000 per annum

About this property

  • The property comprises a high yielding retail investment let on a new three year lease to the established and well known covenant of Holland & Barrett. Arranged across ground and first floors, the property is let to Holland & Barrett Retail Limited on a new three year lease expiring 12/03/2027 and paying a rent of £15,000 per annum. The new lease is a renewal and we understand the tenant has been in occupation for 10 years. Located on the corner of Tenters Street and Newgate Street, the property occupies a prime pitch fronting the partially pedestrianised street. There may be longer term development potential including the conversion of the upper parts to residential use, this is subject to the existing lease and any requisite consents.

Additional information

  • The property is let in its entirety to Holland & Barrett Retail Limited on a new three year lease expiring 12/03/2027 and paying a rent of £15,000 per annum.
  • The lease is on full repairing and insuring terms and is a renewal of a previous lease. We understand the tenant has been in occupation for over 10 years.
  • Holland & Barrett Retail Limited:
  • D&B Rating - 5A2
  • Turnover (2022) - £536m
  • Total Assets (2022) - £632m
  • Employees - 6,049