Retail premises for sale in Tubwell Row, Darlington DL1

Guide price £250,000 (£77.81/sq. ft)
Retail premises for sale 3,213 sq. ft*
Interested in this property? Call +44 113 427 9011 * or Request Details

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

Property description

Location: Darlington is a large market town in County Durham of circa 100,000 people and has a wider catchment population of approximately 275,000 people.

The premises occupy a prominent position in the town centre close to the junction of Tubwell Row and Crown Street in an area providing a mixture of bars, local and multiple traders, the market hall and close to the Town Hall. The main bus stops are situated outside the property.

Accommodation:

32 tubwell row
Ground floor shop/office, rear room and toilet 27.4m² (295 sq ft)
First floor office, mess room, kitchen, male and female toilets 95.7m² (1,030 sq ft)
Second floor four separate offices
and store 74.9m² (806 sq ft)

total floor area 198.0m² (2,131 sq ft)

33 tubwell row
Ground floor lock up shop - sales area 71.7m² (772 sq ft)
Rear ancillary and toilet 22.8m² (310 sq ft)

total floor area 94.5m² (1,082 sq ft)

All measurements are approximate

lease: 32 tubwell row

Let to Arriva Durham County Ltd for a term of 15 years from 4 May 2007 with reviews and breaks at 5 and 10 years at a current rent of £11,000 pax payable quarterly in advance.

33 tubwell row

Let to Tubwell Mini Market Ltd with personal guarantor. A new Lease has been proposed (not completed) to be for a term of10 year Lease from 1 January 2020 at a rent £10,200 pax payable monthly in advance.

Total income: £21,200 pax.

Covenant strength:

32 tubwell row
Arriva Durham County Ltd is part of Arriva plc Group providing excellent covenant strength and due to the proximity of the main bus stops the premises are used as a welfare centre for bus staff as well as training and administration.

33 tubwell row
Tubwell Mini Market trading as an Eastern European continental food store entered into an annual tenancy from 1 January 2017 having taken over the original business which started in 2014.

VAT:
The property has not been elected to tax and therefore VAT will not be applicable but prospective purchasers should clarify this information at the time of sale.

Proposal: Guide £250,000 subject to contract and to the existing Lease/tenancies in place at point of sale.

This should provide a gross return of 8.48% approx. And net return of 8.2% approx. Allowing costs of 3.2% approx.

E.P.C:
32 tubwell row: Band F
33 tubwell row: Band C

Further details available on request.

Property info

* Sizes listed are approximate. Please contact the agent to confirm actual size.

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For more information about this property, please contact
Mawsons, LS3 on +44 113 427 9011 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Mawsons, and do not constitute property particulars. Please contact Mawsons 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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