Prominently located modern car showroom investment

INVESTMENT SUMMARY

Prominently located car showroom investment in Durham

Durham has an immediate population in excess of 50,000 and a county wide population in excess of 520,000

Highly visible location immediately opposite Durham City Retail Park

Nearby occupiers include B&Q, Currys PC World, B&M, Argos, Boots, SCS, KFC, and Pizza Hut

The local area forms a motor retail cluster, including Toyota and Renault, with Cooper BMW, Seat, Nissan, Mazda, and Skoda dealerships nearby

The excellent location may provide future opportunity for redevelopment, particularly for roadside uses

Comprising a 10,806 sq ft showroom with 117 car parking spaces on a site of approximately 1 acre

The property is entirely let to Sherwoods Motor Group Limited (t/a Peugeot) at the passing rent of £140,000 per annum (only £12.95 psf) subject to 5 yearly upward only rent reviews to market rent.

The next rent review is in July 2025 providing an early opportunity for rental growth

According to CreditSafe (Jan-25) Sherwoods Motor Group Limited have a credit risk score of 78 – Very Low Risk and an International Risk Score of A – Very Low Risk.

We are instructed to seek offers in excess of £2,100,000 (Two Million, One Hundred Thousand Pounds) reflecting a net initial yield of 6.27% and assuming standard purchasers costs of 6.30%