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Lot 36

First time on the market for over 20 years
Gross Yield 12.5%

Situation

Occupying a prominent trading position in the centre of the town close to Costa, Ladbrokes, Post Office and a host of local traders.
Shildon is located just off the A6072 and is approx. 2½ miles south east of Bishop Auckland and 7 miles from Junction 60 of the A1(M)

Property

An end of terrace building comprising a Large Ground Floor Retail Unit with Mezzanine Office and Ancillary Store at first floor level which benefits from the use of a Goods Lift. In addition, there is a rear service road allowing vehicular access for unloading.

Accommodation

Ground Floor Retail Unit
Gross Frontage 33'6”
Internal Width 31'2”
Shop Depth 62'0
Built Depth 88'7”
Area Approx. 2,570 sq ft
Mezzanine Office
Area Approx. 105 sq ft
First Floor Ancillary
Store and Canteen Area Approx. 1,000 sq ft
Ladies & Gents WCs
Total Area Approx. 3,675 sq ft

VAT is NOT applicable to this Lot

Freehold

Tenancy

The entire property is occupied by D. Powley as a Freezer Centre & Discount Food Store (in occupation for over 6 years) on a Quarterly Tenancy at a current rent of £6,240 per annum exclusive.

Note: 6 Week Completion.

*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.

30 Church Street, Shildon, County Durham DL4 1DX