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
    24/Sep/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
  • 50-52 Newgate Street, Bishop Auckland, County Durham, 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)
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 £1,000 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
    03.09.21
    File Size
    632 KB
    View PDF
  • Site Plan
    Updated Date
    03.09.21
    File Size
    983 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

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854 +44 (0)7824 705 955billy.struth@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

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now