Toolstation, Ritson Street, Stanley, DH9 0ADMake an enquiry
Franck-Steier Price have completed the acquisition of a single let trade counter investment on the edge of Stanley town centre in County Durham for a private investor client.
The property comprised a former social club which has been converted into a trade counter unit on a prominent site next to a new McDonalds and the town’s Aldi & Asda.
The property is let to Toolstation Ltd from completion of the recent works for 10 years, with a tenant option to break in Year 6. The initial rent is £35,000 per annum – £7.66 per sqft.
The property was purchased for £525,000 which reflected a net initial yield of 6.36%. The vendor was Almscliffe Investments who were represented by Metcalf Harland.