26 Front Street, Langley Park, Durham, County Durham, DH7 9SD
- PROPERTY TYPE
Commercial Property
- SIZE
Ask agent
Description
Auction ends 19th March at 14:20
£80,000+
Description
Lock-up shop investment opportunity
Let to Hairdressers
New three year lease from June 2024
A retail investment property in the heart of the small village in County Durham.
The mid-terraced single storey lock-up shop is currently let and trading as a hairdressers, having previously been occupied as a betting shop.
A new three year lease was agreed in June 2024, with a rebased rent of £10,000 per annum. See legal pack for details.
The rent represents a strong gross yield of 12.5%, providing a good return for investor buyers.
The internal accommodation totals 923 Sq Ft (86 Sq M).
EPC
The property has a rating of C-63.
VAT
The property is not registered for VAT and therefore VAT is not payable on the purchase.
Location
Langley Park is a small village in the heart of County Durham on the A691 between Lanchester and Durham. Front Street provides the retails offering to the village.
Tenancies
The property is available by way of freehold sale, subject to a new three year full repairing and insuring lease at a rent of £10,000 per annum from the 20th June 2024. See legal pack for further details.
Auctioneer's Note
The successful bidder will pay a buyer's contract fee on exchange of contracts of:
£900 including VAT for purchases upto and including £100,000.
£1,500 including VAT for purchases of £101,000 to £300,000.
£2,100 including VAT for purchases of £301,000 and above.
This fee is only payable by the successful bidder.
Viewing
Naylors Gavin Black Commercial Agents
*Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Brochures
Legal DocumentsOnline Bidding26 Front Street, Langley Park, Durham, County Durham, DH7 9SD
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Durham Station3.8 miles
- Chester-le-Street Station5.3 miles
About Cheffins Residential, Property Auctions
Clifton House, 1 & 2 Clifton Road, Cambridge, CB1 7EA
Notes
Disclaimer - Property reference 280882. 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 Cheffins Residential, Property Auctions. 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 Cheffins Residential, Property Auctions on 01223 972814.
*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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