Restaurant/cafe for sale in Victoria Road, Consett DH8

Location

The subject property is located on Voctoria Road, 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 a 3-bed flat to the first floor. The ground floor units are currently occupied by Sambucas, and a hairdresser. There is off street parking opposite the property.

Accommodation

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

Hair by Peter 67.98 m² 732 ft²
Sambuca 170.33 m² 1,833 ft²
Flat 92.07 m² 991 ft²

Total 330.38 m² 3,556 ft²

EPC rating

Flat E39
Sambuca’s B48
Hair by Peter C65

Tenancy schedule

Commercial Units Rent (Per Annum) Term
Sambuca £23,040 6 years remaining
Hair by Peter £13,000 Vacating August 2024

Residential Units Rent (Per Annum) Rent (Per Month)
Flat 1 £6,360 £530.00

Total £42,400

Rating assessment

Description rv Estimated Rates Payable
Hairdressing Salon & Premises £6,800 £3,393.20
Restaurant & Premises £7,200 £3,592.80
Shop & Premises £4,450 £2,220.55

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.

Terms

The freehold of the property is available with offers in excess of £475,000 (Four Hundred and Seventy-Five Thousand Pounds).

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.