Retail premises for sale in Frederick Street North, Meadowfield DH7

£195,000 (£96.87/sq. ft)
Retail premises for sale 2,013 sq. ft*
Interested in this property? Call +44 191 686 9796 * or Request Details

* Calls to this number will be recorded for quality, compliance and training purposes.

Property description

Location


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.


Description


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


Accommodation


Gf Retail 66m2 710 ft2 itza 44.22m2 (476ft2)
14a 56m2 603 ft2
14b 65m2 700 ft2
Total 187m² 2,013ft²


Rating assessment


Description rv Estimated Rates Payable
Betting Shop and premises £5,300 £2644.70

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.


EPC rating


Gf Shop EPC rating – D80
14a EPC rating – E49
14b EPC rating – D55


Terms


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.


VAT


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.


Legal costs


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.

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For more information about this property, please contact
Bradley Hall, NE1 on +44 191 686 9796 * (local rate)

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Disclaimer

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.

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