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Featherbed Court, Seaham, Durham, SR7 7XR

Industrial
0.36 Acres (0.15 Hectares)
For Sale
£1,310,000 for the Freehold

Anchored by Sainsburys Plc by way of a new 10 year lease

0.36 acre potential development site.

Total net rental income £114,700 per annum.

Other occupiers include hot food takeaway, hairdressers, kitchen / bathroom suppliers.

Offers in excess of £1.31M which shows a blended net initial yield of 8.26% after costs.

Sainsburys have just committed to a new lease at this location showing their strong commitment to the location.

Fergus Laird

Interested in this property?
Please contact me

fergus@naylorsgavinblack.co.uk 0191 232 7030
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Location

Featherbed Court is a small neighbourhood retail parade located at the entrance to an extensive modern residential development to the north of Seaham.

Seaham is a harbour town located on the East Durham coast, 7 miles south of Sunderland and 15 miles east of Durham.

The A19 trunk road runs close by and links to the A1 north via the Tyne Tunnel and A1 south at Thirsk.

Description

The development comprises a total of 7 single storey terraced retail units constructed in 2006 under pitched tiled roof. Sainsburys benefit from rear servicing yard.

A pub operated by Marstons is located within the site and has being sold off by way of a long lease.

The scheme benefits from a total of 97 car parking spaces.

Terms

Freehold subject to the tenancies as detailed in the table. The occupational tenancies are effectively full repairing and insuring by way of service charge.