£50,000

Commercial Street, Willington

Description

LOCATION
The subject property is located on Commercial Street, Willington, which is the main road that passes through Willington. The A690 connects Willington to Crook in the west and Durham in the East. The A1(M) is 6.8 miles from the property, which provides a connection to Newcastle in the North and Darlington in the south..

DESCRIPTION
The subject property comprises of a brick-built, mid-terrace mixed use building, with a retail unit to the ground floor and 2-bed flat on the first floor. The ground floor retail unit comprises of a main sales area, office and w/c. There is a large yard to the rear of the property.

ACCOMMODATION
We calculate the approximate net/gross internal floor areas to be as follows:
Commercial Unit 39.29m² 423ft²
Flat 44.33m² 477ft²

EPC RATING
Commercial Unit – C68
Flat – E52

RATING ASSESSMENT
The rateable value of the premises as at 1 April 2023 is £2,225 and the estimated rates payable for the current year is £1,110.28. 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.

TERMS
This property is available for the purchase of the freehold for a sum of £50,000 (Fifty Thousand Pounds).

TENANCY
This commercial unit is let at a passing rent of £3,120 per annum and the flat is achieving £4,200 per annum.

Total £7,320 per annum. This reflects a gross Yield of 14.64%.

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.

ANTI-MONEY LAUNDERING REGULATIONS
In accordance with the Anti-Money Laundering Regulations we are required to verify the identify of the Purchaser/Tenant. We will do so based on name and address data provided but we may also require you to provide two forms of identification. We will require the Purchaser/Tenant to provide proof of the source of income.