Retail premises for sale in Woods Terrace, Murton, Seaham SR7

Summary

*For sale via secure sale online bidding: Terms and conditions apply.*

We are pleased to offer to auction this portfolio of 2 retail units and 2 residential flats, located along Woods Terrace, Murton, Seaham.

To the ground floor is a vacant retail unit previously let for 80pw (4,160pa), most recently used as a photo studio.

Trimmers Hairdressing is based in the second ground floor retail unit. It is currently owner occupied, however, the business, including the fixtures and fittings, is not included in the sale. The business is being retained by the vendors and will occupy the space by way of a lease for 5 years at a rent of 4,800 per annum. Trimmers has been run as a family business since the 1990s, offering a well-established and secure tenant.

The upper floor has been converted into 2x self-contained apartments (1x 1 bed, 1x 2 bed), each let for 350pcm (8,400pa). One of the tenants has been in the property since 2019, and the other since 2022. The rents have not been reviewed in that time.

Location

The subject property is well located along Woods Terrace, Murton. This property is located within easy reach of local amenities, transport links and schools. The subject property is located approximately 2.3 miles from Seaham town centre and approximately 10 miles from Durham city centre.

Accommodation

Ground floor
Hairdressers - approx. 56.17sqm (605sqft)
Studio - approx. 47.18sqm (508sqft)

First floor

Tenure

Freehold. Title number DU51344.

Rateable Value

The current rateable value are as follows from 1 April 2023 to present (sourced from voa):
Trimmers, 9 Woods Terrace: 4,400
9 Woods Terrace: 4,050

Council Tax

Both flats are of council tax band A.

EPC

All available upon request.

9a - Rating C
9b - Rating C
9- Rating C

Additional Information

For further information please contact our office direct on , or alternatively via e-mail on . With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.

Auctioneers Additional Comments

Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.

Please be aware that any inquiry, bid or viewing of the subject property will require your details to be shared between both the marketing agent and The Auctioneer in order that all matters can be dealt with effectively.

This auction lot is being sold either by, conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.

The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via The Auctioneers or the Marketing Agents website.

Auctioneers Additional Comments

Your details may be shared with additional service providers via the marketing agent and/or The Auctioneer.

A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers' obligations and sellers' commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification and identity process in accordance with Anti Money Laundering procedures.

Auctioneers Additional Comments

In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit of 5% of the purchase price of the lot subject to any special conditions detailed in the legal pack. The deposit will be a contribution to the purchase price. A non-refundable reservation fee may also be payable upon agreement of sale (Details of which can be obtained from the auctioneers website). The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.

Both the Marketing Agent and The Auctioneer may believe it necessary or beneficial to the customer to pass your details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.