(Image: Northcap)
A retail park unit, home to a charity superstore and a busy gym, is up for sale at a North East shopping complex.
The unit at Peel Retail Park, on Spire Road, Washington, is being marketed for offers above £3.45 million.
The 46,428 sq ft building is split across two levels, with the British Heart Foundation operating a furniture and electrical superstore below, while JD Gyms has its own dedicated entrance to the first-floor gym.
The combined units currently bring in £278,008 a year in passing rent, with both tenants set to stay.
The British Heart Foundation operates more than 750 shops across the UK and is the country’s largest independent funder of cardiovascular research.
JD Gyms, which is 97.5 per cent owned by JD Sports Fashion plc, has more than 95 sites nationwide.
The listing also highlights the security of the existing leases.
Read More:
The building has a weighted average unexpired lease term of 10.6 years until expiry and 8.3 years until break, while JD Gyms has removed a break clause that had been due in December 2029.
Set on a 3.3-acre site, the property includes 157 parking spaces and sits on the northern side of the A1231 Sunderland Highway, close to Washington town centre and Junction 64 of the A1(M).
The site forms part of a larger retail cluster, with nearby names including Lidl, B&M, The Food Warehouse, McDonald’s and Costa Coffee.