Retail premises for sale in Front Street, Stanley DH9

£750,000 (£62/sq. ft)
Interested in this property? Call +44 191 244 9616 * or Request Details

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

Retail premises for sale 12,096 sq. ft*

Property features

  • Mixed Use Investment Opportunity for Sale
  • £88,204 pa (fully let premises) 11.16% niy
  • Seeking offers in excess of £750,000, reflecting a net initial yield of 11.16 %

Property description

Location


Stanley is a former colliery town conveniently located midway between Durham (9 miles to the south east) and Newcastle (10 miles to the north east). Junction 63 of the A1 (M) motorway is 6 miles to the east, along the A693. Stanley is a market town which benefits from a population of approximately 20,000 people and a district population of approximately 54,000 people.

Stanley has recently seen an influx of new commercial operators including McDonalds and Tool Station whilst new Starbucks, Greggs and Dominos outlets are currently under construction on Agnes Street.


Situation


The subject property occupies a prominent position at the end of the pedestrianized Front Street where it meets Co-operative Street. Immediately adjacent to the premises is a new Aldi supermarket to the north and an Asda supermarket to the south. Meanwhile Front Street is home to a mixture of local and national retail and leisure outlets. The A693 roundabout is only 100m from the premises which connects to the A1(M) to the east and the larger town of Consett to the west.


Description


The property comprises a three-storey sandstone and brick-built building, which has been subdivided into 12 units; ten of which are retail and food businesses on the ground floor, one is a gym that covers the majority of first floor and one treatment and therapy suit that occupies part first and second
floors. The roof is pitched and tiled whilst the shop fronts are a mixture of uPVC and traditional timber. All upper floor windows are uPVC and the individual units benefit from roller shutters. Parking is not specifically allocated, however, there is space for roughly 10 vehicles to park at the rear and side of the premises whilst there are 3 free, large public car parks in close proximity.


Tenure


The property is held freehold.


Professional costs


Each party is to be responsible for their own costs incurred in the transaction.


VAT


The property is not registered for VAT.


Anti-money laundering regulations


In accordance with anti-money laundering regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser.


Proposal


We are instructed to seek offers in excess of £750,000 (Seven Hundred and Fifty Thousand Pounds) for our client’s freehold interest, subject to contract .

A sale at £750,000 reflects a net initial yield of 11.06% assuming standard purchasers costs of 5.40%. A sale at this level also reflects a low capital value of just £62 per sq ft

Property info

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

Arrange Viewing

For more information about this property, please contact
Johnson Tucker LLP, NE15 on +44 191 244 9616 * (local rate)

Contact Johnson Tucker LLP about this property

Enter details
    Morning (8am-noon)
    Afternoon (noon-5pm)
    Evening (5pm-9pm)
  1. Characters remaining: 500

By submitting this form, you accept our Terms of Use and Privacy Policy. When you click 'Send message''Request valuation', we will pass your personal data to the selected estate agents so that those agents can respond to your request for information or to arrange a viewing. valuation request.

Disclaimer

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

Properties on the market nearby

4 more properties like this

View all Front Street commercial properties for sale