25, 27 & 31 Newbottle Street Houghton-le-Spring Tyne & Wear DH4 4AP

25, 27 & 31 Newbottle Street
Houghton-le-Spring
Tyne & Wear
DH4 4AP

Freehold Retail Investment

  • Let to Mackays Stores Limited (t/a M&Co) on a new 10 year lease (1)
  • Prominent town centre location
  • VAT-free Investment
  • Adjacent to Lloyds and diagonally opposite Superdrug, Greggs and Ladbrokes
  • M&Co in occupation since 1982
  • Lot
    71
  • Auction
    11th July 2018
  • Rent
    £50,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £430,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On the Instructions of M&Co.
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Retail Investment

  • Let to Mackays Stores Limited (t/a M&Co) on a new 10 year lease (1)
  • Prominent town centre location
  • VAT-free Investment
  • Adjacent to Lloyds and diagonally opposite Superdrug, Greggs and Ladbrokes
  • M&Co in occupation since 1982
  • Lot 71
  • Auction 11th July 2018
  • Rent
  • Status Sold
  • Price £430,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On the Instructions of M&Co.

Property Information

Location
Miles
6 miles north-east of Durham
6 miles south-west of Sunderland
11 miles south of Newcastle
Roads
A1(M), A690, A182
Rail
Houghton-le-Spring Railway Station
Air
Newcastle Airport
Situation

The historic town of Houghton-le-Spring in the county of Tyne & Wear is located 11 miles south of Newcastle, 6 miles north of Durham and 6 miles west of Sunderland. The property is situated in the town centre on Newbottle Street, close to its junction with Wheller Street. There is a Lidl supermarket and public car park at the rear of the property. Occupiers nearby include Lloyds, Superdrug, Greggs, Ladbrokes, Post Office and Barclays.

Tenure

Freehold.

Location
Miles
6 miles north-east of Durham
6 miles south-west of Sunderland
11 miles south of Newcastle
Roads
A1(M), A690, A182
Rail
Houghton-le-Spring Railway Station
Air
Newcastle Airport
Situation

The historic town of Houghton-le-Spring in the county of Tyne & Wear is located 11 miles south of Newcastle, 6 miles north of Durham and 6 miles west of Sunderland. The property is situated in the town centre on Newbottle Street, close to its junction with Wheller Street. There is a Lidl supermarket and public car park at the rear of the property. Occupiers nearby include Lloyds, Superdrug, Greggs, Ladbrokes, Post Office and Barclays.

Tenure

Freehold.

Description

The property comprises a ground floor shop with first floor storage accommodation. The second floor is void and not currently used. Part of the ground floor has been sublet.

VAT

VAT is not applicable to this lot.

Completion Period

Six week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a ground floor shop with first floor storage accommodation. The second floor is void and not currently used. Part of the ground floor has been sublet.

VAT

VAT is not applicable to this lot.

Completion Period

Six week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review
Ground
First
Second
Retail
Ancillary
Void
372 sq m
322 sq m
(4,004 sq ft)
(3,466 sq ft)
MACKAYS
STORES
LIMITED
t/a M&Co (2) (3)
10 years from completion on
a full repairing and insuring
lease subject to a scheduleof condition (1)
£50,000 2023
Total
694 sq m
(7,470 sq ft)     £50,000  

(1) Tenant’s option to determine in the 5th year.
(2) For the year ended 24th February 2017, Mackays Stores Limited reported a turnover of £165,611,000, pre-tax profits of £1,100,000 and a total net worth of £36,441,000 (Source: Experian Group 12/06/2018). Mackays Stores Limited is one of the largest privately-owned fashion retailers in the UK. Since inception in the 1960s, M&Co now trades from over 300 stores nationwide with a further 22 stores overseas.
(3) Part of the property has been sublet to St Cuthberts Hospice Durham at £12,000 per annum, holding over. The subtenant has proposed a new 5 year lease at £11,000 per annum.

Property Documents

  • Site Plan
    Updated Date
    28.10.19
    File Size
    2 MB
    View PDF
  • Catalogue Page
    Updated Date
    28.10.19
    File Size
    772 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Associate Auctioneers
Fawcett Mead 37/38 Margaret Street
London
W1G 0JF
Joe Baio 020 7182 7480 07807 182 7489joe@fawcettmead.co.uk
Seller's Solicitors
Keystone Law 48 Chancery Lane
London
WC2A 1JF
Stephen Kingsley 0203 319 3700stephen.kingsley@keystonelaw.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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