12 Silver St 2,516 SF 100% Leased Retail Building Durham DH1 3RB $1,565,588 CAD ($622.25 CAD/SF) 9.20% Cap Rate

12 Silver Street presents a compelling retail and residential investment in the vibrant heart of Durham city centre. Positioned on the highly pedestrianised Silver Street between Market Place and Framwellgate Bridge, the property offers a prominent retail frontage occupied by a well-established bubble tea operator under a long-term lease. Above the shop, the upper floors provide a five-bedroom student apartment fully let to Durham University students under assured periodic tenancies. The flat has recently undergone refurbishment, ensuring continued tenant appeal and strong rental performance.
The asset provides secure and diversified income streams, supported by Durham's reputation as a leading university city with a strong student population exceeding 21,000 and limited supply of centrally located accommodation. Durham attracts over 3.1 million visitors annually and benefits from significant retail footfall, complemented by historic landmarks such as Durham Cathedral and Castle, both UNESCO World Heritage Sites.
Offering a total gross income of £84,090 per annum and net income of £80,060 per annum, this investment reflects a strong covenant mix and income stability. The guide price of £825,000 equates to a net initial yield of approximately 9.20%, assuming standard purchaser’s costs. This property combines income security with long-term capital growth potential in one of the UK's most historic and in-demand university cities.