Property

Retail

101 Front Street, Chester le Street, County Durham, DH3 3BL

The property is a former bank arranged over two floors with a prominent glazed frontage available in a shell condition comprising kitchen and WC facilities.

LOCATION

Chester-Le-Street is a historic market town in County Durham, situated on the banks of the River Tyne. The town is located centrally between Durham and Newcastle upon Tyne and benefits from excellent transport links, being a short distance from the A1(M). Rail communications are also very good with the town having a station situated on the East Coast Mainline, with easy access to London, Newcastle upon Tyne and other nearby towns and cities.

The property is situated in a prominent central position on Front Street, which is Chester le Street’s principle retail thoroughfare. Other nearby retailers include Greggs, Boots, and Halifax among other national and local occupiers. There is a bus stop immediately outside the building.

DESCRIPTION

The property is a former bank arranged over two floors with a prominent glazed frontage available in a shell condition comprising kitchen and WC facilities.

ACCOMODATION

The property provides the below approximate areas:

Ground Floor130 sq m(1,399 sq ft)
First Floor42 sq m   (452 sq ft)
Total172 sq m(1,851 sq ft)

PROPOSAL

Freehold for sale for offers in the region of £150,000 reflecting a low capital value of only £81 per sq ft.

RATING ASSESSMENT 

The rating assessment currently appearing on the 2017 Valuation List is as follows: –

Shop & Premises – £27,250

The Small Business rate for the year 2020/2021 is 49.9 pence in the pound

LEGAL COSTS

Each party to bear their own legal costs incurred in the transaction.

EPC

The property has an EPC rating of E.

VAT

All figures quoted are exclusive of VAT where chargeable.

ANTI-MONEY LAUNDERING

In accordance with anti-money laundering regulations, two forms of identification and confirmation of the source of funding will be required from the successful tenant.

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