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29-35 Medomsley Road, Consett, County Durham DH8 5HE

Guide Price
£275,000

Business rates & charges may apply

SDL Property Auctions - Commercial, Nationwide
SIZE

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SECTOR

Commercial property for sale

Key features

  • Auction: 30.05.2024 09:00
  • Freehold investment opportunity
  • Prime Location
  • Total income £35,640 per annum with scope to increase
  • EPC Rating: C D D C C C

Description

For sale on 30 May 2024
The National Property Auction will be broadcast live on our website and open to remote bidding online, on the phone and by proxy. Registration for bidding will close at 5pm the day before the auction.
The auction will commence at 09:00.

A freehold investment opportunity located along the Medomsley Road comprising 5 commercial units in a row offering a low risk high yield investment.

The upper floors are split into two further lettable spaces. To the right hand side is a gym along with vacant space above the left of the building which could potentially be let for an additional circa 900pcm.

Total Gross income is £35,640pa.

The accommodation comprises:

29 Medomsley Road: Let to Ruby Tuesday Ladies Boutique. Occupied since 2014 with rent passing £600pcm and 3 years unexpired term.

31 Medomsley Road: Let to MSA Convenience Store Ltd (Rohan Mini Market). Occupied since July 2023 with 6 years unexpired term with rent passing £600pcm.

31A Medomsley Road: Upper Floor Fitness Studio. Occupied since October 2021 with 10 years unexpired term with rent passing £600pcm.

33 Medomsley Road: Jula Crafts Ltd. Occupied since May 2017 with 7 years unexpired term. Rent passing £600pcm.

35 Medomsley Road: Hair With Natalie. Occupied since March 2019 with 3 years unexpired term. Rent passing £570pcm.

33A Medomsley Road: Upper floor. Vacant Possession. Requires Refurbishment.

Interested parties are advised to inspect the legal pack for more information.

The subject property occupies a prominent position on Medomsley Road which benefits from high volumes of passing traffic and footfall. Surrounding occupiers include Papa Johns, Ramsdens, Westway Vets, Dominos Pizza and Iceland. Consett is a market town situated 14 miles southwest of Newcastle upon Tyne and 13 miles northwest of Durham City at the junction of the A691/A692, both of which provide the link to the A1(M). Consett is home to over 37,000 people, growing to 68,000 people within a 30-minute drive.

Note Please be advised that the auctioneers have not personally inspected the property. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.

Tenure: Freehold

EPC Rating: C D D C C C

Terms:
Auction Details:

The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Variable Fee (England and Wales).

Binding contracts of sale will be exchanged at the point of sale.

All sales are subject to SDL Property Auctions Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.

Auction Deposit and Fees:

The following deposits and non- refundable auctioneers fees apply:

• 5% deposit (subject to a minimum of £5,000)

• Buyers Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.

The Buyers Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.

There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.

Additional Information:

For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions home page.

This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).

Guide Price & Reserve Price:

Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.

29-35 Medomsley Road, Consett, County Durham DH8 5HE

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Stocksfield Station7.3 miles

About SDL Property Auctions - Commercial, Nationwide

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SDL Property Auctions - Commercial, Nationwide

At SDL Property Auctions, our award-winning team, sells a wide range of residential and commercial properties across the length and breadth of the UK, for both private individuals and corporate clients. Our lots range from investment properties, vacant houses, building plots, commercial and mixed-use buildings and more.

With a commitment to speed, simplicity and certainty, SDL Property Auctions offers customers the fastest, simplest and safest way to buy or sell residential and commerci

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Notes

These notes are private, only you can see them.

Disclaimer - Property reference 202403200954sq_psk4. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by SDL Property Auctions - Commercial, Nationwide. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call SDL Property Auctions - Commercial, Nationwide on 08000 465454.

*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.

Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”

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