Property Information
Address:
54 & 54A NEWGATE STREET, BISHOP AUCKLAND
, DL14 7EG
Price: Property no longer available.
Size: 3238 sq ft300 sqm
Primary Category: Shop
All Categories:
Shop,
Property Ref/Movehut: MH470024
Property Ref/Agent: BISHOP AUCKLAND 54 & 54A NEWGATE STREET, DL14 7EG
*Please use the agent ref when calling the agent directly.
Property description
INVESTMENT HIGHLIGHTS
Bishop Auckland is an attractive market town in County Durham.
Located on the prime retail pitch.
Let to Vodafone Limited until 24th December 2021.
Rebased rent from ?46,325 per annum
Freehold
Current rent: ?33,500 per annum
Offers in excess of ?400,000 (subject to contract & exclusive of VAT).
A purchase at this level would reflect a net initial yield of 8.00%
Assuming standard purchaser??s costs of 4.80%
LOCATION
Bishop Auckland is located within County Durham in the North East of England. The historic market town is the largest in the Wear Vally. The town is situated 34 miles to the south of Newcastle upon Tyne and equidistant from Durham approximately 13 miles to the north and Darlington 15 miles to the south.
DESCRIPTION
The property comprises a mid-terraced brick built property with a pitched slate roof. The ground floor has been arranged so as to provide well apportioned retail trading space, whilst the first floor provides ancillary accommodation.
SITUATION
The property is situated on Newgate Street, the towns prime retail pitch. Other retailers in the vicinity include Boots the Chemist, Poundland, Bon Marche, Brighthouse, Holland & Barrett and Dorothy Perkins.
VAT
The property is not elected for VAT.
PROPOSAL
We are instructed to seek offers in excess of ?400,000 (Four hundred thousand pounds), subject to contract and exclusive of VAT, which reflects a net initial yield of 8.00%, after purchaser??s cost of 4.80%
EPC
Further information available upon request.
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