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Lot 33 Sold: £69,500

Auction: Thursday 28th February 2019

Unit 10 Newbottle Street, Houghton-le-Spring, Co. Durham DH4 4AN

  • Photo1

Lot 33

Gross Yield 10.4%
6 Week Completion

Situation

Located in the main retail thoroughfare of the town centre amongst such multiples as Superdrug, McColls, Lloyds Bank, Greggs, Ladbrokes and a host of local traders.
Houghton-le-Spring lies approx. 6 miles south-west of Sunderland and approx. 6 miles north-east of Durham and benefits from good road links via the A690 and the A1(M).

Property

A mid-terrace building comprising a Ground Floor Shop with internal access to Ancillary Storage at first floor level.

Accommodation

Ground Floor Shop
Gross Frontage 14'10"
Internal Width 13'7"
narrowing to 9'9"
Shop Depth 21'7"
Built Depth 40'5"
First Floor Store
Area Approx. 385 sq ft
Kitchen, Shower/WC

VAT is NOT applicable to this Lot

Freehold

Tenancy

The entire property is let on a full repairing and insuring lease to K. Yildirim as a Barbers for a term of 10 years from 10th September 2014 at a current rent of £6,250 per annum exclusive.
Rent Review September 2019

Enquire about this lot:

Photo of Jonathan Ross

Jonathan Ross
020 8492 9449
jross@barnettross.co.uk

Photo of Joshua Platt

Joshua Platt
020 8492 9449
jplatt@barnettross.co.uk

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

  • a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
  • b. A single price figure where the 'Reserve' is not to exceed it.
  • c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
  • d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.