Retail premises for sale in Front Street, Pelton, Chester Le Street DH2

Summary

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

We are pleased to offer to auction this mixed use investment located on Front Street, Pelton the investment consists of 2 x retail units and 1 x owner occupied flat. The premises is partially let out and has potential to generate additional income for anyone looking for investment.

Please note we have not inspected this property.

Location

The property is located on Front Street, Pelton. Pelton is located 2 miles west of Chester Le Street. The property lies adjacent to Front Street which links up to A693. The A693 is main route connecting Durham to Stanley and Consett to the west and A1 to the East.

Accommodation

6 Front Street: 407 sqft
6a Front Street: 398 sqft
7 Front Street: 918 sqft
Total: 1,723 sqft

Rental Income

6 Front Street: 600pcm (holding over)
6a Front Street: Vacant
7 Front Street: 800pcm (Licence)
Total: 1,400pcm (16,800PA)

Tenure

2x freehold titles. Title numbers DU140653 and DU154730.

Rateable Value

The rateable value of the premises as at 1 April 2023 is as follows:
6 Front Street - 1,975.
7 Front Street - 6,200.

EPC

We are currently awaiting a copy of the energy performance certificate.

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.