The vendor intends to sell a cleared site with vacant possession.
Currently, the site comprises a large bus depot with offices constructed between the 1900s and 1950s.
Vehicular access is from four entrances at the front; one of which extends through a covered canopy area. There is also access between the two office blocks at the front into the warehouse and there are also two access doors into the front yard.
reet is a market town in County Durham, approximately 5.5 miles north of Durham and 9.5 miles south of Newcastle upon Tyne. The town has good transport links, with town centre approximately 1 miles to the south west of the A1(M) via the A167. Chester le Street Railway Station is on the East Coast Mainline providing national rail networks to other major towns and cities across the UK as well as domestic travel too.
The property is located to the north of Chester le Street adjacent to a BP petrol filling station and M&S Food convenience store, which in turn sit on a busy roundabout at the intersection of Picktree Lane and the A167.
The A167 meets the A1(M) approximately 700m to the northeast of the property.
We have carried out a measured survey in accordance with the RICS Code of Measuring Practice and calculated the following gross internal areas.
|Description||Sq m||Sq ft|
|Main Front Warehouse||1,673.6||18,015|
|Three Storey Offices||456.6||4,91|
|Two Storey Offices||411.8||4,432|
|Single Storey Offices||335.5||3,612|
|Covered Canopy Areas||705.7||7,596|
The property sits on a broadly trapezium shaped site which extends to 0.85 hectares (2.10 acres) and is currently 80% covered by buildings (including the canopy areas).
The site will be cleared of all buildings and sold with vacant possession.
We understand the property is held freehold with title number DU160326.
An EPC has been commissioned and will be made available as soon as possible.
We have made reference to the Valuation Office Agency website and are advised that the property is entered in the 2017 Valuation List as follows: –
|Northern General Transport Ltd, Picktree Lane, Chester le Street, Co Durham, DH3 3SS||Bus Garage & Premises||£61,000|
Each party is to be responsible for their own costs incurred in the transaction.
All figures quoted are exclusive of any VAT that may be payable. The property is elected to tax.
We are instructed to seek offers in excess of £1,950,000 for our client’s freehold interest.
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In accordance with anti-money laundering regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser.