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Commercial Property for sale

Ladbrokes, 2 High Street, Spennymoor

Guide Price £185,000

Property Description

Full description

Tenure: Freehold

LOCATION Spennymoor has a population of approximately 20,000 and is located some 10 miles south of Durham and 15 miles north of Darlington. The town is served by the A68A which provides access to the A1(M) at Junction 61, some 4 miles to the east. The High Street provides the main shopping for the town and the property is located close to the Wetherspoon and directly opposite the Brewers Arms. 

DESCRIPTION The property comprises a single storey commercial premises extending to 205 sq. m (2,206 sq. ft). 

TENANCY The entire property is let to Ladbrokes Betting & Gaming Ltd for a term of 10 years from 23/09/2011 at a current rent of £14,500 per annum exclusive of rates. The lease provides for rent reviews every fifth year of the term and contains full repairing and insuring covenants. 

VAT VAT is applicable to this property. 

GUIDE PRICE We are instructed to seek offers of £185,000 freehold, subject to contract and a commercial lease to Ladbrokes Betting & Gaming Ltd, producing a rental income of £14,500 per annum. A purchase at £185,000 would reflect a gross initial yield of 7.84%. 

LEGAL COSTS Each party to bear their own legal costs in connection with this transaction. 

ENERGY PERFORMANCE CERTIFICATE EPC available upon request. 

VIEWING Strictly by prior appointment with the sole agents Nicholas Percival Chartered Surveyors on 01206 563222 or info@nicholaspercival.co.uk
FAO: Tom Noble 


More information from this agent

Nearest stations

  • Bishop Auckland (4.2 mi)
  • Shildon (5.2 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Nicholas Percival, Colchester - Sales

Beacon End Farmhouse London Road, Stanway, CO3 0NQ

01206 916155 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Bishop Auckland (4.2 mi)
  • Shildon (5.2 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Nicholas Percival, Colchester - Sales

Beacon End Farmhouse London Road, Stanway, CO3 0NQ

01206 916155 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 101551001617. 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 Nicholas Percival, Colchester - Sales. 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.

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