Newbottle Street, Houghton Le Spring, Tyne and Wear, DH4

LOCATION

The property is situated in the town of Houghton-le-Spring, which is situated approximately 15 miles south-east of Newcastle Upon Tyne and 8 miles north-east of Durham, with a current population of 12,550 persons (census 2021). Houghton-le-spring is located just off the A690 with access leading onto the A19 and A1 leading to Newcastle Upon Tyne to the north-west and Durham to the south-west. The shop occupies a strong position in the main retail area of the town. Other occupiers nearby include Lidl, B & M, Ladbrokes, Greggs, Dickinsons Butchers and Savers.

DESCRIPTION

The property comprises a three-storey, mid- terraced building of brick construction. The main roof is pitched with a slate covering. The ground floor is well presented with a modern Morrisons Local branding. The retail area was fully refurbished in 2024. The first floor is separately accessed and comprises of office space. There is a small yard to the rear with access to the rear service lane.

ACCOMMODATION

We have not measured the property internally. The following measurements have been obtained from the Valuation Office Agency Assessment:

Basement

25.00 sq m (269 sq ft)

Ground Floor

123.30 sq m (1327 sq ft)

First Floor

52.00 sq m (560 sq ft)

TOTAL

200.30 sq m (2156 sq ft) Interested parties should carry out their own further investigations.

TENURE

The property is held on a freehold basis.

TENANCY

The whole of the property is let to Alliance Property Holdings Limited by way of a full repairing and insuring lease for a term expiring 16 October 2033. There is an option for the tenant to break the lease on 17 October 2028. The current passing rent is £13,000 per annum.

PRICE

Our client's freehold interest in the whole of the property, subject to the existing lease, is available at £159,000, representing a gross yield of 8.18% before purchaser's costs. The property is not registered for VAT and therefore VAT will not be payable on the purchase price RATEABLE VALUE/COUNCIL TAX The property is entered into the 2023 Rating List with a rateable value of £13,000. Interested parties should confirm the rates liability with the business rates department of the Local Authority.

LEGAL COSTS

Each party to bear their own legal costs.

VIEWING

Strictly by appointment through Sole Agents youngsRPS Contact Paul Fairlamb or Chris Pattison at the Newcastle office on All figures quoted above are exclusive of VAT where chargeable.

LOCAL AUTHORITY

Sunderland City Council, Civic Centre, Burdon Road, Sunderland, SR2 7DN. Telephone:

Telephone (0191)

ENERGY PERFORMANCE CERTIFICATE The property has an EPC rating of E-112. A copy of the EPC certificate and recommendation report is available on request.