£3,440,000 (Subject to Contract and Exclusive VAT)
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.
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
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.
£311,333.00 per annum exclusive
Partner | Investment
Green & Partners understand our needs and continually exceed expectations.
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
Green & Partners are a focused, diligent and highly determined team who exceed our expectations time after time.
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.
27 Beak Street, Carnaby, London, W1F 9RU
020 7659 4848 | firstname.lastname@example.org