Retail Property (high street) for sale

Newgate Street, Bishop Auckland, County Durham, DL14

£185,000
995 sq. ft.

Property Description

Commercial information

  • 995 sq ft (92 sq m)

Key features

  • Retail investment
  • Fully tenanted
  • Excellent covenant

Full description

Tenure: Freehold

LOCATION
Bishop Auckland is a historic market town situated in the North East of England, 12 miles South of Durham and 14 miles North of Darlington with a resident population of approximately 24,764 persons.
The property occupies a prominent position in the pedestrianised area of Bishop Auckland. Nearby traders include Yorkshire Bank, O2,Greggs, WH Smiths, Home Bargains, Poundworld, Card Factory, Phones 4u.

DESCRIPTION
The property comprises a two storey building constructed mid 80. The shop unit boasts double frontage with 2 windows and central entrance.

ACCOMMODATION
No 3 m2 sq ft
G/F zone A 44.00 473
G/F zone B 15.40 166
G/F zone C 6.40 69
F/F storage 12.10 130
F/F staff room 14.60 157

m2 Sq ft
Total space 92.5 995

PRICE
Offers of £185,000 for the freehold interest.
We are informed that VAT is applicable to this sale.

TENANCY
The property is currently tenanted toSignet Trading Ltd t/a H Samuel at £13,000 per from 13th March 2017 until 12th March 2022

Subject to a break date of 13 March 2020.

COVENANT STRENGTH
Signet is the largest specialty retail jeweler by sales in the US, Canada and UK. Signet is incorporated in Bermuda and its address and telephone number are shown on the cover of this document. Its corporate website is www.signetjewelers.com, from where documents that the Company is required to file or furnish with the US Securities and Exchange Commission ("SEC") may be viewed or downloaded free of charge.

On May 29, 2014, the Company acquired 100% of the outstanding shares of Zale Corporation (the "Acquisition") for $1,458.0 million, including $478.2 million to extinguish Zale Corporation's existing debt. The Acquisition was funded by the Company through existing cash and the issuance of $1,400.0 million of long-term debt. The Acquisition aligns with the Company's strategy to diversify its businesses and expand its footprint. See Notes 3 and 19 of Item 8 for additional information related to the Acquisition and the issuance of long-term debt to finance the transaction, respectively.
Prior to the Acquisition, the Company managed its business as two geographical reportable segments, being the United States of America (the "US") and the United Kingdom (the "UK") divisions. In connection with the Acquisition, the Company no longer manages its business geographically, but by store brand grouping, a description of which follows:

Operations not incorporated into the reportable segments above include the Company's diamond sourcing function. On November 4, 2013, the Company acquired a diamond polishing factory in Gaborone, Botswana, which expanded Signet's long-term diamond sourcing capabilities, including the ability to cut and polish stones. In addition, the Company has been named a sightholder by multiple international diamond mining companies, established a diamond buying office in India and a design center in New York allowing the Company to secure additional, reliable and consistent supplies of diamonds for our guests. Company activities associated with the diamond sourcing function are managed as a separate operating segment, and are aggregated with unallocated corporate administrative functions for financial reporting purposes. See Note 4 of Item 8 for additional information regarding the Company's operating segments.

PLANNING
All further enquiries regarding planning matters should be directed to Durham County Council.

BUSINESS RATES
According to the Valuation Office Agency 2017 website, this property has a current rateable value of £14,250.

Interested parties are advised to make their own enquiries in this respect.

VIEWINGS
For further information or to arrange a viewing, please contact Peter Davies on 0113 237 0999.

ENERGY PERFORMANCE CERTIFICATE
Energy Performance Certificates for this property is:-
0490 0135 - 5269 5492 3096
Efficiency Rating E 120

MISREPRESENTATION ACT 1967
Stoneacre Properties acting as agent for the vendors or lessors of this property give notice that:-

The particulars are set out as a general outline only for the guidance of intending purchasers or lessees, and do not constitute, nor constitute part of, an offer or contract.

All descriptions, dimensions, condition statements, permissions for use & occupation, and other details are given in good faith and are believed to be correct. Any intending purchasers or tenants should not rely them as such as statements or representations of fact but must satisfy themselves by inspection or otherwise as the correctness of each of them.

No person in the employment of Stoneacre Properties has any authority to make or give representation or warranty whatsoever in relation to this property.

All prices and rents are quoted exclusive of VAT unless expressly stated to the contrary.

MISDESCRIPTIONS ACT 1991
These details believe to be correct at the time of compilation, but may be subject to subsequent amendment.

ALL OFFERS ARE SUBJECT TO CONTRACT.
Details prepared November 2018


Nearest stations

  • Bishop Auckland (0.5 mi)
  • Shildon (3.0 mi)
  • Newton Aycliffe (4.9 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Stoneacre Properties, Leeds - Commercial Sales Office

184 Harrogate Road, Chapel Allerton, Leeds, LS7 4NZ

0113 237 0999 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 (0.5 mi)
  • Shildon (3.0 mi)
  • Newton Aycliffe (4.9 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Stoneacre Properties, Leeds - Commercial Sales Office

184 Harrogate Road, Chapel Allerton, Leeds, LS7 4NZ

0113 237 0999 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 3-7NS. 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 Stoneacre Properties, Leeds - Commercial Sales Office. 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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