Alma Place, Durham, County Durham, DH1

The property is a purpose-built car showroom designed to reflect the
Peugeot brand. It features a striking double-height, fully glazed showroom,
complemented by a rear parts department and vehicle workshop. The
property benefits from substantial frontage onto Alma Place, a key arterial
route connecting Durham city centre to the A1(M).
Modern office accommodation is provided on both the ground and first floors.
The one-acre (0.4-hectare) site, accessed directly from Alma Place, offers
ample display space for new and used vehicles, along with generous customer
and staff parking (estimated at 117 spaces).

The property is let on a 20 year FRI lease from 9 July 2010 and expiring
on 8 July 2030 (circa 5.5 years unexpired) at a 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 9 July 2025. The tenant
did not exercise their option to terminate the lease on 9 July 2025
(subject to providing 6 months' notice) demonstrating their ongoing
commitment to the building.
The lease was assigned to Sherwoods Motor Group Limited in 2018.

The motor trade investment sector offers several attractive characteristics for
investors. These include substantial sites in prime commercial locations, often
presenting opportunities for alternative uses; low building density; tenants with
robust financial standing and reliable income streams; and frequently, potential
for future redevelopment.
This prominent location in Durham, along a main arterial route into Durham City
Centre, immediately opposite Durham City Retail Park; incorporating occupiers
such as B&M, Pure Gym, Currys, McDonalds, KFC with other presents a number of
future redevelopment opportunities, particularly for roadside uses.