13A Newgate Street, Bishop Auckland, County Durham, DL14 7HG
£175,000
Investment
Key Features
- Substantial prime town centre retail unit in the heart of Bishop Auckland
- Agreement for lease to The Works on a 10 year FRI lease with no rent free at £20,000 pa
- Ideal opportunity for investors
Part of the
28 February 2019
auction
Nottingham Racecourse
at
2.30PM
Substantial retail premises in the heart of Bishop Auckland with an agreement for lease to The Works at £20,000 per annum
- Substantial retail unit in the heart of Bishop Auckland
- Prime town centre unit with agreement for lease to The Works
- Remedial works are being undertaken to the roof
- Once works are complete the lease will commence
- 10 Year FRI lease at a rent of £20,000 pa
- No rent free period, giving buyers immediate income
- Ground floor - 3,145 sq ft
- First floor - 1,650 sq ft
- Second floor - 675 sq ft
- Not measured by Auction Estates
- Nearby operators include: Virgin Money, HSBC, Clintons
- Betfred, WH Smith, Holland & Barrett & Boots
- Ideal opportunity for investors
Next blocking viewing: Thursday 14th February at 9.00am. Please arrive promptly for the viewing start time in order to gain access.
Fees
A buyer's premium of £1,440 inc VAT (£720 inc VAT if the sale price is less than £10,000) is applicable to each lot purchased. The Seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of sale. Buyers are deemed to bid in full knowledge of this.
Guide Prices and Reserve Prices
Each property sold is subject to a Reserve Price. The Reserve Price, which is agreed between the seller and the auctioneer just prior to the auction, would ordinarily be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. Both the Guide Price and the Reserve Price can be subject to change up to and including the day of the auction.
Conditions of Sale
The Conditions of Sale will be deposited at the offices of the auctioneers and vendors solicitors/licensed conveyancers seven days prior to sale and the purchaser shall be deemed to have knowledge of same whether inspected or not. Any questions relating to them must be raised prior to 11.30 am. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.
The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.
Freehold subject to an agreement for lease to The Works at £20,000 pa on a 10 year FRI lease with no rent free and breaks at years 3,5 & 7.
D
Email: graham.kaye@howardkennedy.com
Telephone: 02037555541