24, High Street, FERRYHILL, County Durham, DL17 9HR
starts 11:00 AM at Grand Connaught Rooms
Tenure: Leasehold. Lease Information awaited. Please check the Legal Pack for further details.
investment with reversionary potential
current rent reserved £3,000 per annum
The property is located within the centre of West Cornforth amongst other retailers serving the town and close to West Cornforth Medical Centre. The High Street comprises a mix of both residential and retail premises serving a densely populated surrounding catchment with Cornforth itself lying to the west of the A1 (M) south of junction 61.
The property comprises this two floor mid terrace building set between residential properties either side yet within the centre of the shopping area of West Cornforth and opposite the Premier Convenience Store and Post Office. The property is currently arranged to provide retail accommodation at the ground floor level with storage accommodation above and rear yard with separate vehicular access. The property was previously the village bakery and is now trading as Sweet Treats confectioners since 2014.
Ground floor retail zone A 27.4sqm (294.9sq.ft.)
Retail zone B 8.8sqm (94.7sq.ft.)
Kitchen 4.4sqm (47.3sq.ft.)
First floor storage area and WC
Outside: Rear yard with separate vehicular access
EPC rating: E111
Purchasers may wish to consider conversion of the premises on reversion or terminating the current tenancy with the opportunity to convert the building either to a single residence or perhaps two self contained flats subject to the necessary consents. Purchasers are deemed to rely on their own enquiries with regard to planning permission required for development.
The property has been let since 1st April 2014 on a Tenancy at Will to Mrs L Midgley (trading as Sweet Treats) at a current rent of £250 per calendar month.
This rent has not increased since the tenancy was granted.
current rent reserved:
£3,000 per annum.
Held on a long lease. For full lease details please contact the auctioneers.
For each Lot, a contract documentation fee of £1000 (inclusive of VAT) is payable to Barnard Marcus Auctions by the buyer. The seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of Sale. Buyers are deemed to bid in full knowledge of this.
The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price.
Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at.
When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if appropriate the auctioneers may adjust the guide price to reflect this.
Whilst Barnard Marcus make every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of properties in our auctions and cannot therefore guarantee the safety and security of viewers.
Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds and outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers risk.
1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.
Lot location is based upon nearest property postcode only. Actual location of property being sold may differ.
Information about this lot will be sent to your friend.
The legal documents are not yet available, please save the Lot to be notified when they become available or when they change.