Movin’ and shakin’ in Darlington
After only three months of ownership, Craigard Investments has made a fantastic start improving its purchase in Northgate, Darlington.
British Heart Foundation, which had a kiosk next door, has relocated to bigger premises at 59-63 Northgate. It has taken a ten-year lease at an initial rent at £45k per annum rising to £50k per annum over the first three years. As part of the deal, there is a three-month rent free period.
Commenting on this transaction Paul Foster, Managing Partner of Craigard said: “We are delighted that British Heart Foundation, which has traded here very successfully for the last seven or eight years, has strengthened their representation through this deal. They will be undertaking a comprehensive refit of the unit, which is a real confidence statement on the strength of the pitch. We will shortly be bringing forward proposals, subject to planning, to over clad the front of the building. McDonalds has recently put a new franchisee into its unit as well, so the whole site is showing some great potential, which is very encouraging. We now have the former British Heart Foundation kiosk to re-let and our agents are working very hard in this regard. For those interested it would ideally suit a little coffee shop, jeweller or newsagent. It’s opposite M&S so I am confident that it will go well.