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7 King Street, Spennymoor, DL16 6QG

Offers Over £80,000
1,195 sq. ft.

Property Description

Commercial information

  • 1,195 sq ft (111 sq m)

Full description

Tenure: Freehold

SITUATION/LOCATION
The property is situated on the corner of King Street and Holborn Street on the fringes of Spennymoor town centre. The area is a mixed commercial and residential location incorporating a variety of local businesses. The location affords fantastic travel links being approximately 6 miles south of Durham easily accessed from the A167, junction 61 of the A1(M) is approximately 4 miles distant providing convenient travel links both north and south bound. There are a number of on street and public car parking facilities within the immediate area.

PREMISES
Substantial end terraced property being of predominantly stone and brick construction under pitched tiled roof with pebble dashing to side elevations. The premises provides ground floor retail unit presently occupied by a takeaway with self contained residential apartment to the first floor. There is a shared yard to the rear accessed from Holborn Street.

The accommodation briefly comprises:-

Ground Floor

7 King Street

Open sales area with commercial kitchen and WC.

Main sales 21.19sq.m. (228sq.ft.)
Store 3.54sq.m. (38sq.ft.)
Former kitchen 20.89sq.m. (225sq.ft.)
Rear store 9.36sq.m. (101sq.ft.)
WC

Total NIA 54.98sq.m. (592sq.ft.)

First Floor

7 Holborn Street

One bedroom first floor apartment accessed from Holborn Street. The apartment incorporates UPVC double glazing, gas central heating and fitted carpets throughout.

Lounge 23.54sq.m. (253sq.ft.)
Kitchen 8.15sq.m (88sq.ft.)
Store 1.89sq.m. (20sq.ft.)
Master bedroom 14.12sq.m (152sq.ft.)
Bathroom 8.4sq.m. (90sq.ft.)

Total NIA 56.1sq.m. (603sq.ft.)






TENANCIES
7 King Street
Ocupied by way of a lease on effectively full repairing terms for a term of 15 years from February 2016. Rent reviews are 3 yearly and the tenant has the option to break the lease on every third annivesary.

Current rent passing: 4,200 per annum

7 Holborn Street
We are advised by our client that the apartment is currently let by way of an Assured Shorthold Tenancy for 350 per calendar month.

Gross Annual Income: 8,400 per annum

TENURE
Freehold

RATEABLE VALUE/ COUNCIL TAX
7 King Street
We are advised by Durham County Council that the ground floor is listed in the current rating list from April 2010 at 2,600.

7 Holborn Street
Band A

VAT
Any reference to price, premium or rent is deemed to be exclusive of VAT (if applicable) thereon. Where rents are quoted as inclusive figures this does not include VAT. Interested parties should clarify the incidence of VAT in any event with their legal advisors.

VIEWING
Strictly by appointment only through agents.

ENERGY PERFORMANCE ASSET RATING
7 King Street- C-59
7 Holborn Street- E-40


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