5 – 9 Woodland Road, Darlington DL3 7BJ
- Investment For Sale
- Let to Halfords Autocentre
- Attractive 7.22% Net Initial Yield
- 10 Year Lease from 29 November 2016
- Rent £22,000 per annum
- FRI Lease
- Subject to Schedule of Conditions
Darlington is a strategically located market town with a significant catchment area and easy access across the region, making it a popular choice with businesses and commuters alike. Edge of Town Centre and walking distance from shops and town centre. Also accessible by road via Darlington’s inner ring road the A167 which provides direct access to the A66(T) to the south and the A1(M) to the north.
Darlington is a established business location that offers a wonderful place to live, work and visit. Not only does Darlington benefit from an incredible talent pool of people but boasts a fantastic transport infrastructure. The economy is built on engineers, industrialists, business, and professional services.
The property comprises a part 1 and 2-storey property with multi pitch roofs and a part rear single storey flat roof section. The premises were comprehensively redecorated by the tenant in 2019 (before agreeing to remove the break). The uppers are not in use and may provide opportunities for future residential conversion by agreement. The property lies within the town conservation area. Useful forecourt and parking in front of property.
Let to Halfords Auto Centres Limited (CRN 04050548) (occupied over 20 years). Held on 10-year lease from 29 November 2016 on FRI terms with a schedule of condition.
The passing rent at £22,000 per annum exclusive fixed until the expiry of the term, with no break. The 5-year Tenant break option was removed by deed of variation.
Guide price of £295,000 (Two Hundred & Ninety Five Thousand Pounds) exclusive, Subject to Contract, and reflecting an attractive 7.22% Net Initial Yield allowing for purchaser’s costs at 4.68%.
Garage: 4,615.00 sqft
Reception: 301.00 sqft
Locker Room: 96.00 sqft
Stores: 103.00 sqft
Works Office: 103.00 sqft
Stores: 492.00 sqft
First Floor Office/ Stores: 673.00 sqft
Total: 6,383.00 sqft