Public House opportunity with residential Potential
Public House with 2 bedroom manager's flat
Residential conversion potential (Subject to Consents)
Prominent corner location
Less than 1 mile from Durham Heritage Coast
Neighbouring occupiers include Co-Op Food, Boots the Chemist and a mix of independent retailers
VAT free investment
Lot 22
Auction 11th February 2021
Rent
Status Sold
Price £90,000
Sector Leisure
Auction Venue Live Streamed Auction
On Behalf of Receivers A B Hughes and J P Smith
Property Information
Location
Miles
11 miles east of Durham
12 miles south of Sunderland
Roads
A19, A1(M)
Rail
Horden Railway Station
Air
Newcastle International
Situation
Easington Colliery is located approximately 11 miles east of Durham. The property is located in a prominent corner position on School Street, at its junction with Memorial Avenue. Neighbouring occupiers include Co-Op Food, Boots the Chemist and a mix of independent retailers.
Tenure
Freehold.
Location
Miles
11 miles east of Durham
12 miles south of Sunderland
Roads
A19, A1(M)
Rail
Horden Railway Station
Air
Newcastle International
Situation
Easington Colliery is located approximately 11 miles east of Durham. The property is located in a prominent corner position on School Street, at its junction with Memorial Avenue. Neighbouring occupiers include Co-Op Food, Boots the Chemist and a mix of independent retailers.
Tenure
Freehold.
Description
The property comprises a public house on the ground floor with a beer cellar in the basement and a two bedroom manager's flat on the first floor.
VAT
VAT is not applicable to this lot.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Completion Period
Six Week Completion
EPC
Band C. See legal pack.
Description
The property comprises a public house on the ground floor with a beer cellar in the basement and a two bedroom manager's flat on the first floor.
VAT
VAT is not applicable to this lot.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Completion Period
Six Week Completion
EPC
Band C. See legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Ground First Basement
Public House 2 bedroom flat Cellar
514.23 sq m 147.47 sq m 57.10 sq m
(5,535 sq ft) (1,588 sq ft) (614 sq ft)
ANTHONY BAKER (1)
5 years from 07/11/2017 on a full repairing and insuring lease
£20,000
Total
718.80 sq m
(7,737 sq ft)
£20,000
(1) The lease is outside of the Security of Tenure provisions of the Landlord & Tenant Act 1954.
If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.