**Location & description**
The Townhouse is set in a Grade ii - Listed Georgian town house, offering
individually themed rooms in Durham’s charming Old Elvet area. Durham
Cathedral and the 11th - century castle are within 10 minutes' walk. Tastefully
designed interiors feature in all rooms, placed in either the 18th - century
town house, garden, or main house. This well established and refurbished city
centre, boutique hotel is only 400m from Durham City marketplace, but enjoys
views of the Cathedral and river from its unique rooms, three of which have
hot tubs with enclosures. The banks of the River Wear and Durham University
Cricket Club are 492 feet away. Durham Rail Station is less than 1 - mile from
the property and Newcastle city centre can be reached after a 15 - minute train
journey.
The hotel consists of 10 guest rooms, with a further room undergoing
development, a restaurant with 40 covers plus a patio accommodating a further
twelve covers, a cosy bar area which comfortably accommodates 15 guests, in
addition to an excellent cellar and wine store. There is air - conditioning
throughout. The freehold owner is retiring and his 5, 000 sqft home adjoining
the hotel is also for sale. The merged plot could make an ideal hospitality
venue with onsite parking. Significant growth in Durham City property values
has been observed in recent years making this an ideal investment with a
proven secure income of 100k pa.
**EPC rating**
B42
**Rating assessment**
The rateable value of the premises as at 1 April 2023 is £44, 000 and the
estimated rates payable for the current year is £21, 560. This is based on the
standard uniform business rates multiplier of 49. 9p in the pound, however,
interested parties should confirm the current position with the Local
Authority.
Lease Terms
The property is held by way of an Fri lease for a term of 10 years from the 12
September 2020 at a current passing rent of £100, 000 pax. There is an open
market review in year 5.
**Tenant**
The property is let to Boutique Hotel Company Holdings (Durham) ltd and
guaranteed personally by Martin Robert Hindmarsh and Luke Francis Hay.
**VAT**
All rents, premiums and purchase prices quoted herein are exclusive of VAT.
All offers are to be made to Bradley Hall upon this basis, and where silent,
offers will be deemed net of VAT.
**Legal costs**
Each party is to bear their own legal costs involved in the transaction.
**Anti - money laundering regulations**
In accordance with the Anti - Money Laundering Regulations the Purchaser/Tenant
will be required to provide two forms of identification and proof of the
source of income. Each party is to bear their own legal costs involved in the
transaction.

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