Two storey retail unit in prominent town centre location with private parking / loading area to the rear. Would suit a variety of uses (subject to consents)
The property comprises a two-storey mid-terrace retail unit of masonry construction under a pitched slate tile roof. Kitchen and WC facilities are located at first floor and there is private car parking / loading to the rear.
Location
Houghton le Spring is a popular town located in Tyne and Wear. It is situated almost equidistant between the cathedral city of Durham (7 miles) south west and Sunderland (7 miles) north east.
The town has strong historical connections to coal mining which first started in the area during the Middle Ages. In recent years, the town has grown rapidly and new developments such as business parks and housing estates have been built to accommodate the increasing population. The area is now a popular residential choice for those who wish to live in an area with a rich history and excellent links to local amenities.
The property is situated in a central location on prime Newbottle Street. The Town Centre hosts a good mix of both local and National retailers including Greggs, Superdrug, Domino’s Pizza, B&M, Heron Foods, Cooplands, Costa and Lidl.
Accommodation
Ground Floor – 43.02 sq m (463 sq ft)
First Floor – 36.51 sq m (393 sq ft)
Total – 79.53 sq m (856 sq ft)
Terms
The property is available by way of a new FRI lease for a term of years to be agreed at a rent of £7,995 pax.
RATING ASSESSMENT
We understand that the premises currently have a rateable value of £7,600 effective from 1st April 2017 (Reducing to £6,200 from 01st April 2023).
Under current government legislation, Small Business Rate Relief may result in no rates being payable (subject to eligibility). Interested parties should confirm the accuracy of this information and the actual rates payable with the Local Authority.
VAT
All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Graham S Hall upon this basis and where silent, offers will be deemed net of VAT.
ENERGY PERFORMANCE
EPC Rating C 70.
LEGAL COSTS
Each party to be responsible for their own costs incurred in this transaction.
Specification
- Two Storey Retail Unit of Approximately 79.53 sq m (856 sq ft)
- Prominent Town Centre Location
- Good Mix of National & Local Operators
- Directly Opposite B&M Bargains & Heron Foods & Close to 25,000 sq ft Lidl Supermarket
- Excellent Transport Links
- No Business Rates Payable (Subject to Eligibility)
- Private Parking / Loading Area to the Rear
- Roller Shutters to Front & Back
- Would Suit a Variety of Uses (Subject to Consents)
- New FRI Lease Available at a Rent of £7,995 pax