North View Terrace, Houghton Le Spring

Mixed Use Development Opportunity

Square foot

1549 sq ft

Description

FOR SALE VIA ONLINE AUCTION: terms and conditions apply.

– Freehold mixed-use development opportunity
– Vacant ground floor retail unit
– Self-contained 2 bed maisonette above
– Separate garage with income potential
– Opportunity to convert to full residential
– Excellent investment and development opportunity

Bradley Hall is pleased to offer for sale by auction this freehold mixed use development opportunity, comprising a ground floor retail unit, a self contained two-bedroom maisonette and a separate garage.

The property is situated within an established mixed-use area serving the local residential population. The surrounding area comprises a range of independent retailers, service providers and residential properties, generating regular footfall and occupier demand.

The property benefits from good connectivity to the wider County Durham area, with Houghton-le-Spring town centre located a short distance away and convenient access to the A690, providing links to Durham, Sunderland and the A1(M). The location is well positioned for both residential and commercial occupiers, with a range of local amenities, schools and public transport services available nearby.

The ground floor unit is available with vacant possession providing purchasers with the opportunity for owner occupation or investment. The property benefits from planning permission for the conversion of the commercial unit and storage into a two-bedroom flat. Further details available under application reference 24/01718/FUL.

The upper floors comprise a self contained two-bedroom maisonette, while the garage offers scope for separate rental income or ancillary storage.

The property is likely to appeal to investors and developers seeking a scheme with a number of potential outcomes. Subject to the necessary consents, purchasers may consider retaining the existing mixed-use arrangement, implementing the approved residential conversion or a title split opportunity.

Accommodation
5 – Ground floor retail – 47sqm
5a – Maisonette – 97sqm