215-217 Newgate Street, Bishop Auckland, County Durham, DL14 7EL

Lot No. 7

Excellent opportunity to purchase a freehold mixed use investment currently achieving over 10% yield, with a potential for possible revision. The property comprises of four storey building arranged over ground, first and upper floors with garages to the lower ground rear. The building is of traditional brick construction comprising of ;- 215 – A Barber Shop @£5000 PA (beg June 2020) , 215A – 3-4 Bedroom Maisonette @ £5,400 PA (Beg AST May 2017), 217 – Second Hand Appliance Shop @ £4,800 PA (March 2021), 217A – Warhammer Games Shop @ £3,500 PA (Jan 2020), 217B – To the rear Garage/Workshop @ £3,600 PA (beg April 2019 three year agreement) , Second Garage £1,300 PA (lease beg 2015). Total floor area for retail outlets 399 square metres, maisonette living space 168 square metres, plus garages.

Unconditional Sale- The Purchaser shall pay a 5% deposit (subject to a minimum of £5,000) upon the fall of the hammer. In addition a 2% Buyers Premium + VAT (Minimum Fee £2394 inc Vat) and contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated). The Agent has not tested the utilities, appliances, or inspected the roof space. The floor plans and dimensions are for guidance only.

No Addendum

Guide Price:

£160,000

+ fees

auction starting price:

£160,000

+ fees

An opportunity to acquire a Freehold Mixed Use Investment, in a prime central location DL14, currently achieving a healthy yield of over 10%.

Live Stream Auction

Bidding Opens: June 29, 2021
Bidding Ends: June 25, 2021

Guide Price: £160,000 + Fees

An opportunity to acquire a Freehold Mixed Use Investment, in a prime central location DL14, currently achieving a healthy yield of over 10%.

Live Stream Auction

Bidding Opens: June 29, 2021
Bidding Ends: June 25, 2021

Tenure: N/A

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