Premium Offers Invited
Durham has a catchment approaching 100,000 being located only 1 mile from the A1(M) with direct inner city links to London & Edinburgh. The City is approximately 18 miles South of Newcastle upon Tyne, 15 miles South West of Sunderland and 20 miles North of Teesside with Darlington approximately 20 miles to the South. The property is situated on North Road, a busy thoroughfare connecting the public transport links to the city centre.
The property is occupied by ‘Freddie’s Fish & Chips’, which has built up an excellent reputation for beer-battered Fish & Chips in Durham City. The shop generates a consistent income/profit all year round despite the ‘seasonal nature’ of Durham City’s student population. There are 5 current staff, 2 of which work in excess of 30 hours per week. The sales and counter area has been re-tiled and decorated since occupation and benefits from a fully-fitted kitchen (a full inventory list to be provided), WC and storage.
Ground Floor Sales 25.66 m² (276 ft²)
Ground Floor Kitchen 10.55 m2 (113 ft2)
Ground Floor Storage 4.05 m2 (44 ft2)
Total 40.26 m2 (433 ft2)
Description RV Estimated Rates Payable
Shop & Premises £6,300 £3,093.30
We are advised that the rateable value of the premises as at 1 April 2017 is £6,300 and we have estimated the accrual rates payable for the current year above. This is based on the standard Small Business Rate of 49.1p in the pound. However, interested parties should confirm the current position with the Local Authority.
To be re-assessed.
Our client is seeking premium offers in the region of £90,000. The lease is for a 10 year term from 27.3.18 at a rent of £22,000 per annum on an EFRI basis.
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.
Each party is to bear their own legal costs involved in the transaction.
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.
For general enquiries and viewing arrangements please contact Joseph I’Anson at Bradley Hall.
Tel: 0191 383 9999