UK - Washington, Tyne & Wear
£21,170,000 | 118,611 sf
Transport and retail hub with significant asset management opportunities.
• St Stephens street is a busy transport and retail hub with high footfall which is currently undergoing improvement works.
• Circa 54% let mixed-use office, retail and car park asset.
• Extensive asset management and development opportunities.
• Part-let to Specsavers until 2029 (7.4 years to exp) and Sainsbury’s
to 2028 (6.4 yrs to exp).
• Further occupiers include Greggs Plc, CEX Limited and
WH Smith Retail Holdings Limited.
• Offers retail units across three frontages; St Stephens Street, Surrey
Street and Queens Road.
• Benefits from high footfall due to position opposite Chantry Place
Shopping Centre and proximity to Norwich Bus Station (abutting to the
north and to the bus stops on St Stephens Street.
• Freehold tenure.
• WAULT of 4.1 years to expiry and 3.0 years to break.
• Total gross income of £1,568,165 per annum and a net income of
£1,008,927 per annum.