Retail premises for sale in Church Street, Consett DH8

Location

The subject property is located on Church St, Consett, which is situated in the town centre. The A691 and A692 and situated in close proximity to the property, the former connecting Consett with Durham and the latter providing a direct connection to Newcastle and the A1(M) in the north.

Description

The subject property comprises of a brick-built, mixed-use property with three commercial units to the ground floor and 5 flats to the first floor. The ground floor units are currently occupied by Cash Converters, a barber shop and a deli. There is off street parking opposite the property.

Accommodation

We calculate the approximate net/gross internal floor areas to be as follows:

Commercial Units
Unit 1 44.37 m² 478 ft²
Unit 2 189.10 m² 2,036 ft²
Unit 3 46.58 m² 501 ft²

Residential Units
Flat 1 60.00 m² 646 ft²
Flat 2 49.00 m² 527 ft²
Flat 3 58.00 m² 624 ft²
Flat 4 40.00 m² 431 ft²
Flat 5 63.00 m² 678 ft²

Total 551.23 m² 5,934 ft²

EPC rating

Flat 1 D
Flat 2 D
Flat 3 D
Flat 4 D
Flat 5 E
Unit 1 To be assessed
Unit 2 To be assessed
Unit 3 To be assessed

Rating assessment

Description rv Estimated Rates Payable
Hairdressing Salon & Premises £6,100 £3,043.90
Shop & Premises £15,000 £7,485.00
Shop & Premises £6,600 £3,293.40

Terms

The freehold of the property is available with offers in excess of £495,000 (Four Hundred and Ninety-Five Thousand Pounds).

Tenancy schedule

Commercial Units Rent (Per Annum) Start Date Term
Unit 1 £10,000 10th April 2023 10 years
Unit 2 £15,520 - Holding Over
Unit 3 £10,000 23rd April 2022 10 years

Residential Units Rent (Per Annum) Rent (Per Month) Start Date
Flat 1 £4,500 £375.00 Vacant
Flat 2 £4,320 £360.00
Flat 3 £3,420 £285.00
Flat 4 £3,420 £285.00
Flat 5 £3,996 £333.00

Total £55,176

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.

Anti-money laundering regulations

In accordance with the Anti-Money Laundering Regulations we are required to verify the identify of the Purchaser/Tenant. We will do so based on name and address data provided but we may also require you to provide two forms of identification. We will require the Purchaser/Tenant to provide proof of the source of income.