Betfred & Flat, Bishop Auckland

 

36 Newgate Street, Bishop Auckland,County Durham, DL14 7EG

Offers in excess of
N/A
Acquired
Type - Mixed
Tenant type - Various
  • Tenure: Freehold
  • Gross Rent: £37,500
  • Lease Term: 15 yrs from Nov '04
  • VAT applicable?: N

Property Description

  • Freehold Betting Office and Residential Investment
  • The property is arranged on basement, ground and two upper floors to provide a ground floor betting shop with basement storage and ancillary accommodation on the first floor.
  • The second floor provides a self-contained flat which is accessed from the rear.

Location Description

  • Bishop Auckland is an attractive market town with a population of some 26,000, located on the River Wear 9 miles south of Durham and 13 miles north of Darlington.
  • The property is located on the western side of the pedestrianised Newgate Street, in the heart of the town centre, in close proximity to the Newgate Shopping Centre.
  • Occupiers close by include Heron Foods (adjacent), Holland & Barrett, Poundland, Boots the Chemist, Dorothy Perkins (opposite), Clinton Cards, Topshop, Poundworld, EE, WH Smith and Greggs, amongst many others.

Additional Notes

  • The entire property is at present let by way of lease assignment to DONE BROTHERS (CASH BETTING) LIMITED (t/a Betfred) from Coral Estates Ltd for a term of 15 years from 6th November 2004.
  • Current rent of £37,500 p.a, the lease provides for rent reviews every fifth year of the term and contains full repairing and insuring covenants

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