Partner Article

Good news for empty Woolworths

There is good news in store for a former Woolworths branch on a Tyneside high street.

After remaining empty for almost a year, the site on Wallsend High Street has been sold by Rook Matthews Sayer Commercial.

A local convenience store operator with several large stores has taken on a ten-year lease and will open later this month as a discount food and household goods store.

Jason Roberts, RMS Business Manager, said, “The landlord, based in London, was impressed with the focus and drive our business had in finding a tenant, which we did in a relatively short space of time. I think, like many, we saw the importance of this store being tenanted. We have known the buyer for some time, so we know what he is looking for.”

Rook Matthews Sayer Commercial & Business Sales has reported that activity seemingly returning to the market.

Jason Roberts said: “The department have agreed a good number of new deals this week and instructions are up. Although this is promising we must be careful not to over state this renewed level of activity.

“A freehold business with the right elements is still very sought after and will still fetch a handsome premium.

This was posted in Bdaily's Members' News section by Ruth Mitchell .