Property description

LOCATION

The City of Durham is approximately 18 miles South of Newcastle upon Tyne, 15 miles South West of Sunderland and 20 miles North of Teesside with Darlington approximately 20 miles to the South. Durham is a University City being the third oldest University behind Oxford and Cambridge with approximately 15,000 students with slight variance year on year.  There has been an indication that the University are looking to increase their numbers. 

The subject property is located close to the Arnison Retail Park approximately 1 ½ miles north of Durham City Centre.  The park is anchored by a 100,000 ft² Sainsburys Superstore and 65,000 ft² Marks and Spencer store which opened in Spring 2013.  Arnison is Durham’s largest retail warehouse destination with over 289,000 ft² in 20 units with over 1400 free car parking spaces. 

SITUATION

The subject premises are shown edged red on the location plan attached.  They occupy a prominent front line position in Block C within the Business Park and benefit from a good level of car parking to the front.  The Estate lies off Abbey Road and leads onto Front Street, Pity Me and the A167 roundabout to this. 

DESCRIPTION

The property is of brick and block cavity wall construction up to a height of approximately 2 metres with insulated cladding panels above and to the roof with a height to eaves of 4.6m (15ft 1in). 

Internally the property benefits from fluorescent lighting, 3 Phase electric and mains water to a ground floor WC.  The unit will have a clear floor space following removal of the previous tenants sub division walls. 

Externally there is a plate glass entrance door, rear personnel/emergency exit and a roller electronically operated shutter to a height of 3.47m and width 4.14m. 

ACCOMMODATION

The accommodation extends to 403 m²             (4,342 f²)  

TERMS

The property is available on the basis of a new lease for a minimum term of 5 years, subject to 5 yearly upward only rent reviews, on a full repairing and insuring basis save for the roof which is the responsibility of the landlord who reserves the right to recover a proportion of the costs of repair shared amongst the occupiers of the block.  In addition, the landlord maintains the external common areas but reserves the right to charge a proportion of the costs to the tenants of the estate by way of service charge. 

RATING ASSESSMENT

We understand that the rating assessments on the premises as at 1  April 2010 is  as follows, although we would advise that some of the assessments may have been the subject of appeals and any interested party should confirm the current position with the Local Authority.

Description                            RV                           UBR

Warehouse & Premises        £18,750                   48.5p

LEGAL COSTS

Either party to be responsible for their own legal costs save the to be responsible for providing an undertaking that should they withdraw before the matter is completed, they will be responsible for the landlords abortive legal costs incurred in the matter. 

RENT

Offers in the region of £35,000 per annum.

ENERGY PERFORMANCE

A copy of the Energy Performance Certificate is available upon request.

VAT

All rents, premiums and purchase prices quoted herein are exclusive of VAT.  All offers are to be made to Bradley Hall upon this basis and where silent, offers will be deemed net of VAT.

VIEWING

For general enquiries and viewing arrangements please contact sole agents Bradley Hall Chartered Surveyors and ask for Graham Hall.

AGENTS NOTES

You may search our company website www.bradleyhall.co.uk for details of all our current instructions.

In accordance with the Code of Leasing Business Premises: England and Wales the landlords are willing to consider alternative lease terms to those set out above but please bear in mind that variations may affect the level of rent proposed.

A copy of the Code of Leasing Business Premises: England and Wales can be obtained at www.leasingbusinesspremises.co.uk or obtained from the Royal Institution of Chartered Surveyors, Telephone 0207 334 3806.

Property Features :

• Extends to 403.39 m2 (4,342 ft2)
• Excellent location, close to the Arnison Retail Park, Durham´s Premier Retail Park
• Retailers include Sainsbury, Marks and Spencer, Boots, Next, Asda Living, Nike Outlet and others
• Height to Eaves - 4.6m (15ft 1in)
• Neighbouring occupiers include Plumbase, Plumb Centre, Graham Builders Merchants, Tyrex, Ivan Simp