* Calls to this number will be recorded for quality, compliance and training purposes.
Frederick Street is located on the west side of Durham approximately 2.5 miles from Durham City Centre just off the A690 Wear Valley to Sunder-land road which crosses the A167 at Nevilles Cross and also links onto the A1(M) Motorway at Carrville.
The subject property is a brick built and rendered, mid-terrace mix use property a pitched concrete tile roof comprising: A ground floor retail unit, currently occupied by Chisolm Bookmakers Limited, and 2no. 1 bedroom residential flats currently let on assured shorthold tenancies where both tenants have been in occupation for a number of years.
Property Rent (per annum) Term Ground Floor Chisholm Bookmakers £6,750 5 years from 25.1.2019 First Floor Flat 14a £4,800 Holding Over – AST First Floor Flat 14b £4,620 Holding Over - AST Total £16,170
We are advised that the rateable value of the premises as at 1 April 2017 is £5,300 and we have estimated the accrual rates payable for the current year above. This is based on the standard Small Business Rate of 49.9p in the pound. However, interested parties should confirm the current position with the Local Authority.
We are instructed to seek offers in excess of £195,000 (One Hundred and Ninety Five Thousand Pounds) for our client’s freehold interest which represents a net initial yield of 8.11% after purchasers costs.
All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT.
Each party is to bear their own legal costs involved in the transaction.
Money laundering regulations
In accordance with the Anti-Money Laundering Regulations the Purchaser/Tenant will be required to provide two forms of identification and proof of the source of income.
* Sizes listed are approximate. Please contact the agent to confirm actual size.
For more information about this property, please contact Bradley Hall, NE1 on +44 191 686 9796 * (local rate)
Contact Bradley Hall about this property
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Bradley Hall, and do not constitute property particulars. Please contact Bradley Hall for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.