33 Front Street, Leadgate, Consett, DH3 7SB
New five year lease to Ladbrokes Betting and Gaming Ltd
Rebased rent of £8,200pa
Just £85,000 excluding VAT
Net initial yield 9.58%
The property has been used as a betting shop for many years
Fergus Laird
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Location
Leadgate is a former coal mining village just outside of Consett in the heart of County Durham and just off the A692 that links to the A1.
Front Street provides the retail offering for the village.
Description
The investment comprises a lock up ground floor shop. The upper floors are held separately.
Terms
The property is for sale by way of a 999 year lease from the 1st September 2011 and benefits from a five year occupational lease from the 25th March 2024.
The property is let on full repairing and insuring terms to Ladbrokes Betting and Gaming Ltd at a rent of £8,200 per annum with a tenant only break option on the 24th March 2027.