_For sale by auction_
_Two storey property made up of ground floor retail with first floor storage_
_Potential to create multi - let investment_
_Overall areas approx. 200. 61 sq m /2159 sq ft_
_Prominent position on the High Street close to Festival Walk and Aldi_
_Ample free parking in the vicinity. _
_Description_
The property was originally made up of two retail units with upper floor
storage/residential that has been combined to form a single unit which has
traded most recently as a laundrette. The property has two shop fronts and our
client advises that there are two electricity supplies to the property thus
making division for separate occupation possible at relatively low cost.
Tenant demand appears to be strong at present with high occupancy rate &
additional footfall created by the recent Aldi supermarket development.
_Location_
The property occupies a prominent position on High Street to the south of
Festival Walk (includes Greggs & Card Factory) and the new Aldi supermarket
development. Occupiers on High Street in Cheapside include, Spennymoor
Library, Boots, William Hill, Evens & Co, Lloyds Bank, Ladbrokes & various
independent retailer, hair salons, hot food take aways and offices.
_Accommodation_
The accommodation is arranged as below:
_Floor_
_Description_
_Area sq m_
_Area sq ft_
Ground
Sales 4 High St
47. 73
513. 71
Ground
Sales 6 High St
41. 25
444. 00
Ground
Stores/Kitchen
27. 86
299. 85
First
Stores
83. 78
901. 82
_Overall_
_Total_
_200. 61_
_2159. 38_
The property has two high quality aluminium framed shop fronts and would lend
itself well to the creation of two self - contained retail units. The first
floor has been stripped back to a shell and provides storage space. To the
rear of the property is an external W/C, yard, and shared access to the side
of the property.
_Services_
The property has benefit of mains supplies of water and electricity in
addition to mains drainage. Our client advises us that there are two
electricity supplies to the property one of which is three phase. Interested
parties should make their own enquiries as to the services available at the
property.
_Energy Performance Certificate_
Energy rating 38 (Band D). Full certificate available on request.
_Terms_
Available for sale at auction based on a guide price of £82, 500+. The auction
is being held on 31st August 2023 and is an online auction.
For more information please visit
_Rating Assessment_
£9, 300 Obtained from the Valuation Office Agency (). The ubr for the period
2023/2024 is 51. 2p in the pound. Rates payable are therefore £4, 761. 60 less
any Small Business Relief or any other discounts, which might be applicable.
Please contact your local authority for more information.
_Contact Information_
For further information and viewings please contact Greig Cavey Commercial
Limited on or e - mail

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