170/170a Front Street, Chester le Street
Ground and first floor premises for sale
1,408 ft²
OIRO £130,000
SSTC
Key Features
Features
Ground and First Floor Premises For Sale
Size 130.83 m² (1,408 ft²)
Excellent town centre location
EPC Rating to be assessed
Well-presented vacant ground floor
Opportunity to add value through re-letting
Transport
Bus stops located close by
0.4 miles from Chester Le Street Train station
Situated on Front Street which links with Ropery Lane
16.3 miles from Newcastle International Airport
Property Description
LOCATION
Chester le Street is a large market town situated approximately 6 miles north of Durham City and some 9 miles south of Newcastle upon Tyne, being close to the A1(M) Motorway and the main line Railway Station on the East Coast Line. The subject property occupies a prominent position to the south end of the Front Street nearby to Gordon Brown Law Firm.
DESCRIPTION
The subject property is a brick built building beneath flat felt roof comprising ground floor retail accommodation which is currently let to an independent convenience store retailer and first floor beauty salon, which is accessed separately off the Front Street and let to another independent occupier.
ACCOMMODATION
| Ground Floor | 64.87 m²
|
(698 ft²)
|
| First Floor
|
65.96 m²
|
(710ft²)
|
| Total
|
130.58 m²
|
(1,408 ft²)
|
RATING ASSESSMENT
| Description
|
RV
|
Estimated Rates Payable
|
|
Shop and Premises (170) |
£6,700
|
£3,343
|
|
Offices and Premises (170a) |
£3,755
|
£1,684
|
We are advised that the rateable value of the premises as at 1 April 2017 is as above and we have estimated the accrual rates payable for the current year above. This is based on the standard Small Business Rate of 49.9p in the pound. However, interested parties should confirm the current position with the Local Authority.
EPC RATING
E115
TERMS
The ground floor is let for a term of 5 years to an independent convenience store for a term from June 2021 with 1st year half rent. The first floor is let on a 3 year term as a beauty salon at an annual rent of £6,000 per annum from 1st December 2020. There is a break clause in March 2022.
ASKING PRICE
We are seeking offers in the region of £130,000 for our client’s Freehold interest.
VAT
All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT.
LEGAL COSTS
Each party is to bear their own legal costs involved in the transaction.
MONEY LAUNDERING REGULATIONS
In accordance with the Anti-Money Laundering Regulations the Purchaser/Tenant will be required to provide two forms of identification and proof of the source of income.
VIEWING
For general enquiries and viewing arrangements please contact Joseph I‘Anson at Bradley Hall.
Tel: 0191 383 9999
Email: joseph.ianson@bradleyhall.co.uk
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