50-52 Newgate Street
Bishop Auckland
County Durham
DL14 7EQ

Freehold Retail Investment

  • Lease to BM Retail Limited (t/a Bon Marche)
  • 5 year lease from 19th May 2020 (subject to option)
  • Prominent corner position on Newgate Street
  • Nearby retailers include Heron Foods, Holland & Barrett, Boots the Chemist, Savers, Vodafone and Poundland
  • VAT-free investment
  • Lot
    34
  • Auction
    05/May/2021
  • Rent
    £25,000 per Annum Exclusive
  • Status
    Withdrawn Prior
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • On Behalf of Trustees
Important Update
  • 50-52 Newgate Street<br>Bishop Auckland<br>County Durham<br>DL14 7EQ
  • Expand
  • Photos
  • Map

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

Property Information

Location
Miles
10 miles south of Durham
11 miles north-west of Darlington
Roads
A68, A688, A1(M)
Rail
Bishop Auckland
Air
Newcastle Airport
Situation

Bishop Auckland is a market town approximately 10 miles south of Durham. The property is situated on the east side of Newgate Street, opposite its junction to Great Gates, and just a short walk to Newgate Shopping Centre. Nearby retailers on Newgate Street include Heron Foods, Holland & Barrett, Boots the Chemist, Savers, Vodafone and Poundland

Tenure

Freehold.

Description

The property comprises a two storey building arranged as a ground floor shop with ancillary accommodation on the first floor.

VAT

VAT is not applicable to this lot.

Note

Please note the buyer will pay 1.5% plus VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.

Completion Period

Six week completion available

EPC

See legal pack at www.acuitus.co.uk

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReversion
Ground
First
Retail
Ancillary
174.10 sq m
118.50 sq m
(1,874 sq ft)
(1,275 sq ft)
BM RETAIL
LIMITED
(t/a Bon Marche)
(1)
5 years from
19/05/2020 until
18/05/2025 (2)
£25,00018/05/2025
(2)
Total
292.60 sq m
(3,149 sq ft)
  £25,000 

(1) www.bonmarche.co.uk
(2) Tenant option to determine on 18th May 2023

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Catalogue Page
    Updated Date
    16.04.21
    File Size
    647 KB
    View PDF
  • Site Plan
    Updated Date
    16.04.21
    File Size
    862 KB
    View PDF
  • Common Auction conditions
    Updated Date
    16.03.21
    File Size
    687 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    07.10.20
    File Size
    1,016 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Seller's Solicitors
Structadene Group 9 White Lion Street
London
N1 9PD
James Thomson 0207 843 9196james.t@pearl-coutts.co.uk

Useful Links

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