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

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

Freehold Retail Investment

Let to Bonmarche Properties Limited (t/a Bon Marche)
5 year lease from 30th June 2021 (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
24th September 2021
Rent
£20,000 per Annum Exclusive
Status
Sold
Price
£150,000
Auction Venue
Live Streamed Auction
On Behalf of Trustees

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Freehold Retail Investment

Let to Bonmarche Properties Limited (t/a Bon Marche)
5 year lease from 30th June 2021 (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 24th September 2021
Rent £20,000 per Annum Exclusive
Status Sold
Price £150,000
Sector
High Street Retail
Auction Venue
Live Streamed Auction
On Behalf of Trustees

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.

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

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

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

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
Ground First	Retail Ancillary	174.10 sq m 118.50 sq m	(1,874 sq ft) (1,275 sq ft)	BONMARCHE PROPERTIES LIMITED (t/a Bon Marche) (1)	5 years from 30/06/2021 until 29/06/2026 (2)	£20,000 (3)	29/06/2026 (2)
Total		292.60 sq m	(3,149 sq ft)			£20,000 (3)

(1) www.bonmarche.co.uk
(2) Tenant option to determine on 30th June 2024
(3) Under the terms of the lease, the rent payable for the first year of the term is £10,000 pa, however the Vendor has agreed to adjust the completion monies so that the property produces £20,000 pa from completion of the sale until the end of the concessionary period. Please see Special Conditions of Sale.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.