15-19 Trafalgar Street Consett County Durham DH8 5AP

  • 15-19 Trafalgar Street<br>Consett<br>County Durham<br>DH8 5AP

15-19 Trafalgar Street
Consett
County Durham
DH8 5AP

Freehold Retail/Leisure Investment with Planning

  • Four retail units and former bar/nightclub
  • Planning permission granted for 9 retail units and 11 residential flats
  • Adjacent to town’s bus station and the Derwent Shopping Centre
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    57
  • Auction
    9th July 2015
  • Rent
    £39,700 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price
     
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
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Freehold Retail/Leisure Investment with Planning

  • Four retail units and former bar/nightclub
  • Planning permission granted for 9 retail units and 11 residential flats
  • Adjacent to town’s bus station and the Derwent Shopping Centre
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 57
  • Auction 9th July 2015
  • Rent £39,700 per Annum Exclusive
  • Status Withdrawn Post
  • Price  
  • Sector
    High Street Retail
  • 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.

Contacts

Acuitus
Henry WilkinsonHenry Wilkinson +44 (0)20 7034 4861 Henry.wilkinson@acuitus.co.uk
Associate Auctioneers
Bradley Hall 26-27 New Elvet
Durham
DH1 3AL
Daryl Carr 0191 383 9999daryl.carr@bradleyhall.co.uk
Seller's Solicitors
Lopian Wagner Solicitors 5th Floor Maybrook House, 40 Blackfriars Street
Manchester
M3 2EG 0161 835 2142
Michael Lopian 0161 834 2324mlopian@lopianwagner.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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