Guide price
£99,000
(£99.10/sq. ft)
Retail premises for saleNewbottle Street, Newbottle, Houghton Le Spring DH4
999 sq. ft
About this property
Prime Location
Spacious Retail Unit
Approximately 999 Square Feet
Potential 9%-10% Yield Per Annum
Summary
**prime high street location**spacious retail unit**situated over two floors**potential rental income of 9%-10% yield per annum**
Pattinson Estate Agent are pleased to welcome to the market this spacious retail unit, which is approximately 999 square feet and is located in the prime location of Newbottle Street in Houghton Le Spring Town Centre. The unit could be suitable for a wide variety of uses, subject to obtaining the relevant planning consent.
Formerly used as a Butchers, the property comprises open plan aspect with two good sized storage areas and a WC facilities and to the first floor there is an ancillary storage to the first floor. Externally to the rear there is gated parking facilities to the premises.
Early viewing comes highly recommended to appreciate the size and location of this property. Please call our Houghton branch to arrange an appointment to view.
Location
Prime location: Positioned on Newbottle Street, which in Houghton Le Spring Town Centre. Serving a sizeable local resident population and surrounding areas.
Accommodation
Ground Floor: Shop floor (24'7 x 14'2), storage cupboard one (4'5 x 8'2), storage cupboard two (9'1 x 8') and WC facility (12'5 x 4'9).
First Floor: Ancillary Storage (18'3 x 15.2)
Externally to the rear there is gated parking facilities
Tenure
Freehold. Title number TY329236.
Expected Yield
Potential yield of 9% - 10% Per Annum
EPC
Rating C - Available on request
Additional
For further information please contact our office direct on , or alternatively via e-mail on . With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.
Auctioneers Additional Comments
Pattinson Auction are referred to as The Auctioneer. This auction lot is being sold by either conditional (Modern) or unconditional (Traditional) auction terms and overseen by The Auctioneer. The method of auction sale and the applicable terms and conditions are found on the lot page of this property on The Auctioneers website. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details to be shared between any marketing agent and The Auctioneer so that matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid, all bidders must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Auctioneers Additional Comments
The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and The Auctioneer and will typically be within a range above or below 10% of the Guide Price or Starting Bid. These prices are subject to change. An auction can be closed at any time, with The Auctioneer permitting the property (the lot) to be sold prior to the end of the auction. A Legal Pack associated with this property is available to view upon request and contains details relevant to the legal documentation, enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers obligations and sellers commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum fee which could be up to 7,200 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and The Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.
**prime high street location**spacious retail unit**situated over two floors**potential rental income of 9%-10% yield per annum**
Pattinson Estate Agent are pleased to welcome to the market this spacious retail unit, which is approximately 999 square feet and is located in the prime location of Newbottle Street in Houghton Le Spring Town Centre. The unit could be suitable for a wide variety of uses, subject to obtaining the relevant planning consent.
Formerly used as a Butchers, the property comprises open plan aspect with two good sized storage areas and a WC facilities and to the first floor there is an ancillary storage to the first floor. Externally to the rear there is gated parking facilities to the premises.
Early viewing comes highly recommended to appreciate the size and location of this property. Please call our Houghton branch to arrange an appointment to view.
Location
Prime location: Positioned on Newbottle Street, which in Houghton Le Spring Town Centre. Serving a sizeable local resident population and surrounding areas.
Accommodation
Ground Floor: Shop floor (24'7 x 14'2), storage cupboard one (4'5 x 8'2), storage cupboard two (9'1 x 8') and WC facility (12'5 x 4'9).
First Floor: Ancillary Storage (18'3 x 15.2)
Externally to the rear there is gated parking facilities
Tenure
Freehold. Title number TY329236.
Expected Yield
Potential yield of 9% - 10% Per Annum
EPC
Rating C - Available on request
Additional
For further information please contact our office direct on , or alternatively via e-mail on . With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.
Auctioneers Additional Comments
Pattinson Auction are referred to as The Auctioneer. This auction lot is being sold by either conditional (Modern) or unconditional (Traditional) auction terms and overseen by The Auctioneer. The method of auction sale and the applicable terms and conditions are found on the lot page of this property on The Auctioneers website. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details to be shared between any marketing agent and The Auctioneer so that matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid, all bidders must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Auctioneers Additional Comments
The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and The Auctioneer and will typically be within a range above or below 10% of the Guide Price or Starting Bid. These prices are subject to change. An auction can be closed at any time, with The Auctioneer permitting the property (the lot) to be sold prior to the end of the auction. A Legal Pack associated with this property is available to view upon request and contains details relevant to the legal documentation, enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers obligations and sellers commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum fee which could be up to 7,200 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and The Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.
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