Available
Crook – Charity Shop
13 Hope Street, Crook, County Durham DL15 9HSFreehold Retail Investment
Price
£215,000
Rent P.A.
£25,000
Yield
11.63%
Tenure
Freehold
Lease Term
7 Years
Years Left on Lease
5y 9m
Area
3,826 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Refurb works undertaken in 2025 of £100,000
- Tenant option to purchase for the higher of £225,000 or market value after 01.05.30 until lease expiry
- Comprises double fronted retail premises at ground floor with ancillary accommodation at first floor
- Future residential development potential of upper floors, as well as retail redevelopment of ground floor to provide multiple retail units, subject to vacant possession and obtaining necessary consents
- Situated in the heart of town centre with occupiers nearby including Greggs, Boots, Lidl and more.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
Comprises two-storey retail premises arranged as a double fronted ground floor shop with ancillary accommodation at first floor, providing the following accommodation and dimensions:
Ground Floor: 150.5 sq m (1,620 sq ft)
Open plan retail, storage, office, wc
First Floor: 188.2 sq m (2,206 sq ft)
Office, storage, wc
Total GIA: 338.7 sq m (3,826 sq ft)
Ground Floor: 150.5 sq m (1,620 sq ft)
Open plan retail, storage, office, wc
First Floor: 188.2 sq m (2,206 sq ft)
Office, storage, wc
Total GIA: 338.7 sq m (3,826 sq ft)
Tenancy Description
The property is at present let to Farplace Animal Rescue for a term of 7 Years from 1st May 2025 at a current rent of £25,000 p.a. and the lease contains full repairing and insuring covenants. Rent review on 01.05.28 open market upward only. Mutual option to determine at any time on or after 01.05.30 with min 6 months notice. Tenant option to purchase for the higher of £225,000 or market value after 01.05.30 until lease expiry. Lease within Landlord & Tenant Act 1954.
Tenancies & Accommodation
Location Description
Crook is a market town in the Durham County Council. The nearby A690 provides access to the A1(M) Motorway. Durham Rail Station is approximately 7.7 miles to the north-east. The property is situated in the heart of town centre with occupiers nearby including Greggs, Boots, One Stop, Lidl, Betfred and more.
