Office for sale in Vine Place, Houghton Le Spring DH4

Location
The town of Houghton le Spring is located approximately 8 miles southwest of Sunderland and 7.5 miles northeast of Durham immediately accessible from the A690 which in turn provides direct access to both the A1M and A19. Vine Place is a Conservation area just off The Broadway and Newbottle Street which is the principal shopping area.

Description
We understand the attractive property stone fronted property was constructed circa 1860 as a stable block and hay loft and has been renovated in recent years providing 2 self-contained units arranged over part ground, upper ground and first floor levels. The lower section has been occupied as a fitness studio for several years and the top floor as an Architects practice and would suit an owner occupier for either the whole or part with the option of generating rental income from the remainder. The property is to be sold with full vacant possession.

Accommodation
The property briefly comprises as follows:-

ft2 m2
4 vine place
Ground Floor
Offices, WC & Kitchen 238 22.11

Upper Ground Floor and Mezzanine
Dance Studio Office & Stores 658 61.13

4a vine place
Second Floor
Offices, Kitchen and WC
629 58.43

overall total 1525 141.67

Tenure
We are advised the property is Freehold.

Asking Price
Offers in the region of £120,000 (one hundred and twenty thousand pounds)

Costs
Each party will be responsible for their own Legal Fees incurred in the transaction.

Viewing
Contact – Mario Jaconelli or Alexa Reavley

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• VAT
We are advised the property is not elected for VAT.

Rateable Value (rv)
The Valuation Office has confirmed the current Rateable Values are as follows:-

No.4 £6,300
No.4a £3,650

The Uniform Business Rate for the Rates Year 2023/2024 is 49.9p If necessary, a written request should be made to the Local Authority for confirmation.

Based upon this assessment and subject to meeting certain criteria the tenant may be eligible for 100% Business Rates relief. Please contact the non-domestic rating department of the Local Authority for clarification

Money Laundering Regulations
In accordance with Anti –Money Laundering Regulations, the Purchaser/Tenant will be required to provide 2 forms of identification together with confirmation of the source of funding.

Disclaimer
None of the equipment or systems within the premises have been tested by the Agent and it is the responsibility of the Purchaser/Lessee to ensure that they are in working order.

Ref C4142 EPC 92/D