Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
13 miles north-west of Durham, 15 miles south-west of Newcastle-upon-Tyne
Roads
A692, A691, A1(M)
Rail
Stocksfield Rail Station, Prudhoe Rail Station
Air
Newcastle International
Situation
Consett is a market town located some 10 miles south-west of Gateshead with the A693 providing access to Chester-le-Street and the A1(M) approximately 12 miles to the east. The property is situated in the town centre on the northern side of Trafalgar Street, adjacent to the town’s bus station and Derwent Centre and within a short walk of Middle Street, the town’s main retailing thoroughfare. Other nearby occupiers include Lidl, Iceland, Betfred, Argos and Peacocks.
Tenure
Freehold.
Location
Miles
13 miles north-west of Durham, 15 miles south-west of Newcastle-upon-Tyne
Roads
A692, A691, A1(M)
Rail
Stocksfield Rail Station, Prudhoe Rail Station
Air
Newcastle International
Situation
Consett is a market town located some 10 miles south-west of Gateshead with the A693 providing access to Chester-le-Street and the A1(M) approximately 12 miles to the east. The property is situated in the town centre on the northern side of Trafalgar Street, adjacent to the town’s bus station and Derwent Centre and within a short walk of Middle Street, the town’s main retailing thoroughfare. Other nearby occupiers include Lidl, Iceland, Betfred, Argos and Peacocks.
Tenure
Freehold.
Description
The property comprises four retail units with a self contained former bar/nightclub on the first floor with access both from Trafalgar Street and John Street Square. The retail units benefit from rear loading/servicing via Pitt Street.
Planning
Planning permission has been granted for nine retail units on the ground floor and change of use to the first floor to 11 residential flats (10 x one bedroom, 1 x two bedroom). For further information please go to http://www.durham.gov.uk/planning (Ref No: DM/14/03874/FPA)
EIGHT WEEK COMPLETION
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is applicable to this lot.
Viewings
There will be a block viewing for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Henry Wilkinson. Telephone: +44 (0)20 7034 4861.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises four retail units with a self contained former bar/nightclub on the first floor with access both from Trafalgar Street and John Street Square. The retail units benefit from rear loading/servicing via Pitt Street.
Planning
Planning permission has been granted for nine retail units on the ground floor and change of use to the first floor to 11 residential flats (10 x one bedroom, 1 x two bedroom). For further information please go to http://www.durham.gov.uk/planning (Ref No: DM/14/03874/FPA)
EIGHT WEEK COMPLETION
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is applicable to this lot.
Viewings
There will be a block viewing for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Henry Wilkinson. Telephone: +44 (0)20 7034 4861.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x.
Reviews
1
Ground
Retail
114.64 sq m
(1,234 sq ft)
GALA CORAL GROUP LIMITED (1)
15 years from 01/06/2005
£20,000
01/06/2015
2
Ground
Retail
97.86 sq m
(1,053 sq ft)
INDIVIDUALS (t/a Trafalgar Café) with guarantee
15 years from 19/09/2005
£14,500 (2)
19/09/2015
3
Ground
Retail
60.72 sq m
(654 sq ft)
INDIVIDUALS (t/a Langrons Newsagents)
10 years from 28/08/2009
£5,200
28/08/2017
4
Ground
Retail
271.84 sq m
(2,926 sq ft)
VACANT POSSESSION (See Planning Paragraph)
13 Trafalgar St
First
Former Bar/Nightclub
257.57 sq m
(2,772 sq ft)
VACANT POSSESSION WITH PLANNING FOR 11 RESIDENTIAL FLATS (See Planning Paragraph)
Totals
802.63 sq m
(8,639 sq ft)
£39,700
(1) The Gala Coral Group is one of Europe’s leading betting and gaming companies, with established retail and online brands and over 1,800 Coral betting shops in the UK (Source: www.galacoral.co.uk) The tenant is not currently in occupation of the unit. (2)The current rent for Unit 2 is £14,500 p.a. The landlord has currently agreed a rental concession at £10,333.33 p.a.