Offers over
£400,000
(£90.44/sq. ft)
Property for saleMixed Investment Property In Darlington, 82-86 North Road, Darlington DL1
4,423 sq. ft
Freehold
About this property
Two Storey Mixed Investment
Shop, Warehouse and 4 Flats
Rental Income: £43,270 per annum
Asking Price: £400,000
Subject to Contract
Description
Two storey mixed investment property comprising ground floor shop (tanning salon), warehouse and 4 apartments.
The property is of traditional brick construction held under a multi-pitched and slate tile covered roof with flat section to rear.
The shop incorporates expansive window frontage to North Road and has been used for a variety of retail purposes over the years.
The warehouse is accessed via Katherine Street at the rear.
Each unit is separately served for utilities and 3 of the 4 apartments have been refurbished over recent years.
Location
The property fronts North Road on its corner with Katherine Street directly opposite Morrisons Food and Fuel Store. The property lies approximately one mile north of Darlington town centre within a mixed neighbourhood. Occupiers in the vicinity include Morrisons, Aldi, Greggs, Poundland and Jollyes amongst a diverse variety of established independent businesses including shops, offices/ professional services and leisure operators. North Road (A167) is an arterial route through the town from the A1(M). Darlington is a popular market town situated approximately 14 miles west of Middlesbrough and 20 miles south of Durham.
Terms
We are instructed to seek offers in excess of £400,000 for the benefit of our client’s Freehold interest.
Investment Analysis
A purchase at the asking price demonstrates a net initial yield of 10.38% after assuming standard purchaser’s costs at 4.18% and a reversionary yield increasing to 11.1% (Sep 26) and 11.34% (Dec 28).
Investment considerations:
• Strong retail position
• Expansive window frontage to North Road (A167)
• Reversionary lease agreed from September 2026 increasing rental income to £46,170pa from Sept 2026 (£47,262pa from Dec 2028)
Adjacent occupiers include Morrisons, Aldi, Greggs and Poundland
• 3 of 4 flats recently refurbished
• Tanning salon trading well and intend to renew the lease for a further 10 years at an increased rent
• Low capital value of c.£83.65 psf
Two storey mixed investment property comprising ground floor shop (tanning salon), warehouse and 4 apartments.
The property is of traditional brick construction held under a multi-pitched and slate tile covered roof with flat section to rear.
The shop incorporates expansive window frontage to North Road and has been used for a variety of retail purposes over the years.
The warehouse is accessed via Katherine Street at the rear.
Each unit is separately served for utilities and 3 of the 4 apartments have been refurbished over recent years.
Location
The property fronts North Road on its corner with Katherine Street directly opposite Morrisons Food and Fuel Store. The property lies approximately one mile north of Darlington town centre within a mixed neighbourhood. Occupiers in the vicinity include Morrisons, Aldi, Greggs, Poundland and Jollyes amongst a diverse variety of established independent businesses including shops, offices/ professional services and leisure operators. North Road (A167) is an arterial route through the town from the A1(M). Darlington is a popular market town situated approximately 14 miles west of Middlesbrough and 20 miles south of Durham.
Terms
We are instructed to seek offers in excess of £400,000 for the benefit of our client’s Freehold interest.
Investment Analysis
A purchase at the asking price demonstrates a net initial yield of 10.38% after assuming standard purchaser’s costs at 4.18% and a reversionary yield increasing to 11.1% (Sep 26) and 11.34% (Dec 28).
Investment considerations:
• Strong retail position
• Expansive window frontage to North Road (A167)
• Reversionary lease agreed from September 2026 increasing rental income to £46,170pa from Sept 2026 (£47,262pa from Dec 2028)
Adjacent occupiers include Morrisons, Aldi, Greggs and Poundland
• 3 of 4 flats recently refurbished
• Tanning salon trading well and intend to renew the lease for a further 10 years at an increased rent
• Low capital value of c.£83.65 psf
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£2,000 per month
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