42 Middle Street, Consett, County Durham DH8 5QJ
- PROPERTY TYPE
Mixed Use
- BEDROOMS
7
- SIZE
Ask agent
Description
For sale via Livestream Auction Commencing from 11am on Wednesday 16th September with Auction House North East.
Please register to bid via our website - auctionhouse.co.uk/northeast
MIXED USE PREMISE WITH HEAPS OF POTENTIAL!
OPEN HOUSE VIEWINGS TBC
A substantial 274 sq m freehold property arranged over three floors, occupying a prominent position in the heart of Consett town centre. The property benefits from strong passing traffic and excellent access to local amenities and transport links, with Consett Bus Station located directly to the rear.
The ground floor provides a commercial space which is available with vacant possession and offers an immediate opportunity for occupation or letting. Based on its size and location, the ground floor is estimated to achieve rental income in the region of £10,000–£12,000 per annum.
The upper floors offer significant potential for residential conversion. The property has previously benefited from planning approval for the conversion of the first and second floors into five self contained flats, whilst retaining the ground floor for commercial use. There has also been prior approval for the conversion of the first and second floors into a seven bedroom HMO, again retaining the ground floor commercial accommodation. Further details and documentation are available within the legal pack.
There is also potential to explore alternative development options and maximise the use of the accommodation across all three floors, subject to obtaining the necessary planning consents.
The property offers the potential to create multiple income streams from a combination of commercial and residential accommodation. Local rental evidence indicates flats in the area achieving approximately £650 per calendar month, whilst HMO rooms, including bills, are understood to achieve approximately £550–£575 per month.
The property also benefits from plentiful free parking to the rear, adding further appeal for both commercial and residential occupiers.
The surrounding area includes a range of established national and local occupiers, including Post Office, Specsavers and Superdrug, providing an established commercial setting within the town centre.
An excellent opportunity for investors or developers seeking a substantial freehold property with existing commercial potential and significant residential conversion opportunities.
Offered with vacant possession.
Tenure: Freehold
EPC Rating: D
Administration Fee: £3600 inc VAT payable on exchange of contracts.
Disbursements: Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
42 Middle Street, Consett, County Durham DH8 5QJ
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Stocksfield Station7.3 miles
Notes
Disclaimer - Property reference 202608111306sq_l0k1. 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 Auction House, North East. 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 Auction House, North East on 0191 917 9650.
*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.”