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Lot 8

Gross Yield 12.2%
6 Week Completion

Situation

Located close to the junction with Cockerton Green in this mixed commercial and residential area, adjacent to The Co-Operative Food and amongst such other multiple retailers as Greggs, Age UK, Cooplands, Heron Foods, William Hill and a host of local traders.
Cockerton lies approx. 1½ miles west of Darlington city centre and 12 miles west of Middlesbrough and benefits from excellent road links via the A1(M) (Junctions 57 and 58).

Property

A mid-terraced building comprising a Ground Floor Shop with internal access to a Preparation Room on the first floor. In addition, there is a rear communal service area and a large public car park to the rear.

Accommodation

Ground Floor Shop
Gross Frontage 18'5”
Internal Width 17'3”
Shop & Built Depth 39'6”
WC
First Floor Preparation Room
Area Approx. 300 sq ft

VAT is NOT applicable to this Lot

Freehold

Tenancy

The entire property is let on a full repairing and insuring lease to N.J. Alderson as a Butcher for a term of 20 years from 24th April 2008 at a current rent of £14,000 per annum exclusive.

Rent Review and Tenant's Break 2023.

Note: The tenant did not operate his April 2018 Break Clause.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

319 Woodland Road, Cockerton, Darlington, County Durham DL3 9AA