Victoria Centre, Medomsley Road, Consett, County Durham DH8 5JU

Victoria Centre, Medomsley Road, Consett, County Durham DH8 5JU

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• Town centre multi-let retail warehouse scheme let to strong covenants

• Consett is a busy town on the edge of the Pennines with a population of 37,000 people

• Ever popular markets on Middle Street on Thursdays, Fridays and Saturdays assist town centre trade

• Prominent location with direct pedestrian connection to high street (50 metres) adjacent to the town’s bus interchange

• Modern retail parade extending to 35,614 sq ft within 5 units on a large site of 2 acres

• Generous car parking provides 95 spaces (1:375 sq ft)

• Modern, well-constructed buildings with low future capital expenditure requirements

• Fully let with 95% of rental income secured against the strong covenants of Argos Limited (D&B 5A1), Iceland Foods Limited (D&B 5A1), BetFred (D&B 5A1) and Poundstretcher Limited (D&B 4A1)

• Occupiers in the convenience and value sectors tend to experience lower online penetration, lower exposure to CVA activity and more often than not a sustainable source of footfall

• Total rental income of £267,080 per annum (£7.50 psf)

• AWULT of 6.85 years to expiry and 2.25 years to first determination

• Estimated rental value of £268,987 per annum (£7.55 psf)

• Freehold

• Offers in excess of £2,790,000 (Subject to Contract)

• 9.00% Net Initial Yield and a 9.06% Reversionary Yield

• Low capital value of just £78 psf

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