Pub/bar for sale in Dundas Street, Spennymoor DL16

Location

The subject property is located on Dundas Street within Spennymoor town centre, around a 10-minute drive from the A1(M), which provides access to Durham and Newcastle in the North and Darlington in the South.

Description

The subject property comprises of a two-storey, brick built public house. The ground floor comprises of two bar areas, ladies and gents W/Cs and a cellar. There is a manager flat on the first floor, which comprises of 2 bedrooms, bathroom, kitchen, lounge and office. There is a large beer garden to the front of the property and a small yard to the rear.

Accommodation

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

Bar area 132.58 m² 1,472 ft²
Flat 66.07 m² 711 ft²
Total 198.65 m² 2,183 ft²

EPC rating

To be assessed

Tenancy schedule

The tenant is currently paying a passing rent of £22,880 per annum (£440 per week).

Rating assessment

The rateable value of the premises as at 1 April 2023 is £5,000 and the estimated rates payable for the current year is £2,495. 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 the region of £210,000 (Two Hundred and Ten 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.