Britannia Shops, Victoria Road, Consett

FOR SALE - RESTURANT INVESTMENT
Rental Income £23,040 pa

Location - The property is located in the centre of Consett which is a town in County Durham lying approximately 13 miles to the west of Durham City Centre and 14 miles south west of Newcastle Upon Tyne. Consett is well positioned at the junction of the A691 / A692, both of which provide access to the A1(M) and the A68 thus providing further access to Edinburgh.

The property is situated on Victoria Road lying directly opposite St Patrick’s Roman Catholic Church. Forming part of an established retail and commercial the property is within close proximity of the towns bus interchange which provides good public transport connections to Durham City, Newcastle and Sunderland.

Description - The property comprises a ground floor restaurant which has been converted from two separate retail units. To the ground floor there is restaurant seating, public toilets and a kitchen. There is additional kitchen / food preparation accommodation to the basement.

A first floor 3 bedroom flat is also available by separate negotiation.

Services - We understand that all main services are connected to the property.
(All interested parties should satisfy themselves with the local service providers)

Accomodation - The approximate Net Internal Area (NIA) is as follows:
135 sqm (1,543 sqft)

Tenure - We understand that the property is freehold subject to a long leasehold interest of the First Floor Flat.

Lease Details - The property is subject two full repairing and insuring (FRI) commercial leases, both of which run co-terminus and expire in January 2030. The total passing rent is £23,040 pa.

Energy Performance Certificate - Full details available upon request.

Guide Price - We are instructed to seek offers in excess of £250,000 for the Restaurant Investment

The First Floor Flat available by separate negotiation.

Legal Costs - Each party will be responsible for their costs in the transaction.

Vat - All prices quoted are exclusive of VAT at the prevailing rate

Client Monies Protection Scheme - R A Jackson & Son LLP is a proud member of the RICS. The RICS Client Money Protection for Residential Agents scheme has been approved by Government under the The Client Money Protection Schemes for Property Agents (Approval and Designation of Schemes) Regulations 2018. This means that RICS registered firms holding money in the areas covered by the regulations, will have met the requirements under The Client Money Protection Scheme for Property Agents Regulations (2018) to belong to an approved scheme. Further information

Property Redress Scheme - R A Jackson & Son LLP are part of The Property Ombudsman. Membership number T01923.

Money Laundering Regulations - In accordance with the Anti-Money Laundering Regulations the Purchaser will be required to provide two forms of identification and proof of the source of income.