Birtley is a town in the Metropolitan Borough of Gateshead, in the North East of England approximately 7 miles south of Newcastle Upon Tyne and 10 miles west of Sunderland.
The property is well connected via road being directly located along Durham Rd. It benefits from regular bus services.
Loyal local population of 130,834 people in the critical 10 minute drive of the store.
A modern, purpose built foodstore comprising 58,622 sq ft GIA (5,446 sq m) with three additional retail units comprising c.7,800 sq ft (725 sq m) with 312 demised car parking spaces.
Let to WM Morrison Supermarkets Limited for a term of 20 years from 31st March 2025, expiring 30th March 2045, providing an attractive unexpired term of c.19.5 years.
WM Morrison Supermarkets Limited is one of the leading food store operators in the country ranking as the fifth largest chain of supermarkets in the UK.
The current rental income is of £1,147,556 per annum (which includes £48,000 generated by the three units directly overlooking Durham Road).
Strong income profile with RPI linked rent reviews subject to a collar and cap of 1% and 3%. The next review is in March 2030.
The asset is held in an SPV, which may benefit a buyer with reduced purchaser’s costs.
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