Durham.

1-7 North Road

Map View

Status.

Sold on 24/05/2022

Service Charge.

£51,001

EPC.

EPC's are available upon request.

Location.

The subject property is located in a strong retailing pitch opposite Riverwalk Shopping Centre and within close proximity to Framwelgate Bridge. A substantial, prominent parade, the investment comprises one convenience foodstore, five retail units and a kiosk. All the units front onto North Road.

The property is not listed.

Description.

Durham has a catchment population of approximately 111,000 and comprises a particularly high proportion of young adults aged 15-24. The Durham area contains a significantly above average proportion of adults within the most affluent AB social group.

Durham has one of the most recognised university’s in the world ranking 86th in 2021. In the UK Durham University is ranked 4th by the Guardian University Guide 2021 and 7th in the Complete University Guide 2021. The University employs over 4,300 members, has a total student population of 18,707 (2018/2019) and is third oldest in the UK behind Oxford and Cambridge.

Durham castle and cathedral are designated by UNESCO as a World Heritage Site which assist in attracting tourists to Durham every year. 4.37 million people visited Durham City in 2019 generating £237.93 million in visitor expenditure. The number of people employed as a direct result of tourism is 2,861 people.

The central shopping area is compact and development is constrained by the historic nature of the city and the River Wear. This constraint on supply provides a strong foundation for rental growth. Retail floor space provision is estimated at 530,000 sq ft and is focussed on Riverwalk Shopping Centre, Land of Prince Bishops Shopping Centre, Silver Street and North Road.

Rent.

£311,333.00 pax

Availability.

Share.

All viewings are strictly by prior appointment.

David Freeman.

Partner | Investment

Patrick Over.

Partner | Investment

Ed Smith.

Partner | Investment

What Our Clients Say.

Green & Partners understand our needs and continually exceed expectations.

abrdn

Thorough, tenacious, practical in their outlook and approach but above all they get results.

La Salle Investment Management

The expertise and excellent client focus provided by Team G&P is greatly valued and appreciated. The continuing hard work to support our investment, Leasing and Asset Management activities has enabled us to drive investment performance for our clients.

M & G Real Estate

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DTZ Investors

With Green & Partners you get Partner level involvement and Commitment whether it's an MSU or a small kiosk. They are creative and tenacious and have a very good knowledge of shopping centres and the retailer market at all levels.

Hammerson