Retail premises for sale in Whitworth Terrace, Spennymoor DL16

Location

The property is located on a busy road towards the south of Spennymoor, close to Whitworth Academy School. The town of Spennymoor has a population of 19,816 (2011 Census) and benefits from a range of facilities and amenities.
Spennymoor is located approximately 6 miles from Durham and 6 miles from Bishop Auckland.

Description

The property comprises a two-storey brick and stone building with glazed UPVC windows and pitched roofs. It was originally built as a Cooperative Food Store and has for over 50 years operated as a large Food retail store with large warehouse and car parking facilities. One Stop (convenience store) operate as the main tenant with a Tanning Shop also occupying space. There is over 11,000 sq.ft of vacant space along with a large under-utilised car park, offering development and asset management potential.

The Bowling occupies the First floor accommodation and has been sold on a 999 year lease

Accommodation

There is approximately 14,046 sq.ft (1,305 sq.m) in lettable ground floor space.

Current Tenancy Schedule

One Stop convenience store 53-54 Whitworth Terrace
Area: 2,500 sq.ft (232 sq.m)
Rent: £25,000 pax 10 year lease from August 2023

Tanning Salon 57 Whitworth Terrace
Area: 636 sq.ft (60 sq.m)
Rent: £6,240 pax (holding over- occupation since 2013)
Total Rent: £31,240 pax

Vacant Space

56 Whitworth Terrace: Area approx. 1000 sq.ft approx. Frontage 7m
55 Whitworth Terrace: Area 1200 sq.ft approx. Frontage 8m
Large Warehouse to rear: Area 8-9000 sq.ft
Large Car Park to rear

Subject to 999 Year Lease to Spennymoor Bowls Club occupying First floor.

Planning

The Property is currently classified as a Retail Shop (Use Class E). Planning permission would be needed to change any of the Areas to other uses.

Tenure

The Property is being sold as Freehold under two separate title numbers.
53-57 Whitworth Terrace (the buildings): DU214169
The Car Park to the rear: DU211814

Rights Of Way, Wayleaves And Easements

The sale is subject to all rights of support, public and private rights of way, water, light, drainage, and other easements.

Method Of Sale

The owner is offering the Freehold for sale by Private Treaty.

Guide Price

£900,000 (exclusive of VAT)

Offers

Offers are invited on both conditional and a non-conditional basis

Vat

It is understood that the building is not Elected for VAT. All parties to make their own enquiries with regard to VAT. Any offers will be deemed to be exclusive of VAT.

Services

It is understood the building benefits from Electric, Gas, Water and Drainage. Prospective purchasers to satisfy themselves of the availability of mains services.

Epc

EPC Rating C57

Viewing

Parts of the property are operational and therefore viewings are strictly by appointment only.

Costs

Each party are responsible for their own legal costs.