Retail premises to let in Weardale Street, Spennymoor DL16

Location

The subject property is located on Weardale Street within Spennymoor, around a 10-minute drive from the A1(M), which provides access to Durham and Newcastle in the North and Darlington in the South. Weardale street is a prominent front street location with a high volume of passing traffic.

Description

The subject property comprises of a brick built, end of terrace ground floor commercial unit. The unit includes a sales area, kitchenette, and storage area to the rear. There is also off-street parking to the rear of the property. The property would suit a variety of uses (STPP).

Accommodation

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

Total 70.94 m² 764 ft²

EPC rating

To be assessed

Rating assessment

The rateable value of the premises as at 1 April 2023 is £6,500 and the estimated rates payable for the current year is £3,243.50. 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 property is available by way of a new lease with terms to be agreed at £7,500 (Seven Thousand Five Hundred Pounds) per annum.

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.