Guide price
£230,000
Pub/bar for saleSunderland Road, Horden, Peterlee SR8
About this property
Huge Property
Investment Opportunity
Asset Management Opportunity
High Rental Expected
5000 sqft
Summary
For Sale Via Online Auction. Fee's Apply.
Investment/Asset Management Opportunity In Horden, Peterlee, SR8 4PF
An asset management opportunity containing the following;
A ground floor licensed social club, Fully operating and complete with all fixtures. Fittings and sound, lighting equipment. - The downstairs pub was refurbished last year and again is ready to operate. The premises benefits from an alcohol licence for off and on trade until 00.30 with 2am Friday and Saturday.
A first floor nightclub - The nightclub and downstairs pub now known as colours and the cocktail lounge are fully operational although the current owners only operate them for private functions, to reach its full potential a new operator could return its business to a nightclub to generate larger income.
The upstairs late night venue was fully refitted 2 years ago and comes complete with all fixtures and fittings, sound and lighting systems, pos system, fridges etc ready to operate
A small fully functional kitchen is located upstairs along with a separate lounge bar that is currently unused.
A 2 bedroom flat - Fully Furnished
A 1250 sqft industrial Unit / Garage - The garage has a recently laid concrete floor and electric shutters
The property has been rented out separately over the years and the total income once received when fully occupied was 4,155 per month or 49,380 per annum. Offering a potential return of 21% on the guide price.
Currently occupied is only the flat for 475 per month and the garage unit for 170 per week.
There is a garage, currently on a 3 year lease running until August 2029.
Total current income - 13,860per annum.
An excellent opportunity to acquire a large freehold property with great income potential.
Sunderland Road (SR8 4PF) in Horden, Peterlee, is a mixed commercial and residential area located along the A1086 main arterial road, featuring local amenities and nearby access to Peterlee and Horden town centers.
Description
An asset management opportunity containing the following.
- A ground floor social club
- A first floor nightclub
- A 2 bedroom flat
- A 1250 sqft industrial Unit
The property has been rented out separately over the years and the total income once received when fully occupied was 4,155 per month or 49,380 per annum. Offering a potential return of 21% on the guide price.
Location
Sunderland Road (SR8 4PF) in Horden, Peterlee, is a mixed commercial and residential area located along the A1086 main arterial road, featuring local amenities and nearby access to Peterlee and Horden town centers.
Tenure
DU284624 + DU392613 - Freehold Titles
Epc's
Raint C & E
Additional Information
For further information please contact our office directly on , or alternatively via email on . With regards to viewing subject property, this is to be done strictly by appointment.
Auctioneers Additional Comments
Pattinson Auction are referred to as The Auctioneer. This auction lot is being sold by either conditional (Modern) or unconditional (Traditional) auction terms and overseen by The Auctioneer. The method of auction sale and the applicable terms and conditions are found on the lot page of this property on The Auctioneers website. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details to be shared between any marketing agent and The Auctioneer so that matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid, all bidders must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Auctioneers Additional Comments
The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and The Auctioneer and will typically be within a range above or below 10% of the Guide Price or Starting Bid. These prices are subject to change. An auction can be closed at any time, with The Auctioneer permitting the property (the lot) to be sold prior to the end of the auction. A Legal Pack associated with this property is available to view upon request and contains details relevant to the legal documentation, enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers obligations and sellers commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum fee which could be up to 7,200 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and The Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.
For Sale Via Online Auction. Fee's Apply.
Investment/Asset Management Opportunity In Horden, Peterlee, SR8 4PF
An asset management opportunity containing the following;
A ground floor licensed social club, Fully operating and complete with all fixtures. Fittings and sound, lighting equipment. - The downstairs pub was refurbished last year and again is ready to operate. The premises benefits from an alcohol licence for off and on trade until 00.30 with 2am Friday and Saturday.
A first floor nightclub - The nightclub and downstairs pub now known as colours and the cocktail lounge are fully operational although the current owners only operate them for private functions, to reach its full potential a new operator could return its business to a nightclub to generate larger income.
The upstairs late night venue was fully refitted 2 years ago and comes complete with all fixtures and fittings, sound and lighting systems, pos system, fridges etc ready to operate
A small fully functional kitchen is located upstairs along with a separate lounge bar that is currently unused.
A 2 bedroom flat - Fully Furnished
A 1250 sqft industrial Unit / Garage - The garage has a recently laid concrete floor and electric shutters
The property has been rented out separately over the years and the total income once received when fully occupied was 4,155 per month or 49,380 per annum. Offering a potential return of 21% on the guide price.
Currently occupied is only the flat for 475 per month and the garage unit for 170 per week.
There is a garage, currently on a 3 year lease running until August 2029.
Total current income - 13,860per annum.
An excellent opportunity to acquire a large freehold property with great income potential.
Sunderland Road (SR8 4PF) in Horden, Peterlee, is a mixed commercial and residential area located along the A1086 main arterial road, featuring local amenities and nearby access to Peterlee and Horden town centers.
Description
An asset management opportunity containing the following.
- A ground floor social club
- A first floor nightclub
- A 2 bedroom flat
- A 1250 sqft industrial Unit
The property has been rented out separately over the years and the total income once received when fully occupied was 4,155 per month or 49,380 per annum. Offering a potential return of 21% on the guide price.
Location
Sunderland Road (SR8 4PF) in Horden, Peterlee, is a mixed commercial and residential area located along the A1086 main arterial road, featuring local amenities and nearby access to Peterlee and Horden town centers.
Tenure
DU284624 + DU392613 - Freehold Titles
Epc's
Raint C & E
Additional Information
For further information please contact our office directly on , or alternatively via email on . With regards to viewing subject property, this is to be done strictly by appointment.
Auctioneers Additional Comments
Pattinson Auction are referred to as The Auctioneer. This auction lot is being sold by either conditional (Modern) or unconditional (Traditional) auction terms and overseen by The Auctioneer. The method of auction sale and the applicable terms and conditions are found on the lot page of this property on The Auctioneers website. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details to be shared between any marketing agent and The Auctioneer so that matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid, all bidders must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Auctioneers Additional Comments
The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and The Auctioneer and will typically be within a range above or below 10% of the Guide Price or Starting Bid. These prices are subject to change. An auction can be closed at any time, with The Auctioneer permitting the property (the lot) to be sold prior to the end of the auction. A Legal Pack associated with this property is available to view upon request and contains details relevant to the legal documentation, enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers obligations and sellers commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum fee which could be up to 7,200 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and The Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.
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£1,150 per month
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