Investment

Front Street, Stanley , DH9 0TA

£220,000+

Call Us: 01661 831 360

We are delighted to offer to the market this substantial end terrace three storey property with pitched slate roof. The property is well presented and currently tenanted by Barclays Bank who are due to vacant 26th April 2022. When vacant the property could be re let or converted to residential on the upper levels stpp.

The property is located on Front Street, which is the main shopping parade in Stanley. Directly adjacent the recently constructed bus concourse providing excellent footfall. Stanley is located approximately 5 miles to the South West of Newcastle upon Tyne and benefits from good transport links.

Rental Income – £21,200 per annum
*Due to the fact Barclays have served notice there will be only circa 5 months rental income remaining circa £7.000. The vendor has confirmed this will be given to the new purchaser. The amount could vary depending on completion date.

Tenancy Agreement – Barclays Bank Plc 20 Years from 27 .04.2007 (Break clause activated)

Barclays have officially given notice to terminate the lease (break clause) and will vacate 26th April 2022.

Property details provided by Rook Matthews Sayer
EPC rating: C

For Sale By Auction www.agentspropertyauction.com LIVE ONLINE AUCTION 9 December 2021 OPTION 1

Ground Floor
Ground Floor
Customer Service Area 53.61 577.05
Service Counter 34.47 sq.m
Office 20.91 sq.m
Office 6.44 sq.m
Vault 13.46 sq.m
Store 13.10 sq.m
Store 7.78 sq.m
Store 2.73 sq.m

First Floor
Gents W/C 6.58 sq.m
Store 4.26 sq.m
Store 16.96 sq.m
Staff Room 25.24 sq.m
Store 1.33 sq.m
Office 18.25 sq.m
Office 11.42 sq.m
Ladies W/C 13.78 sq.m
Store 7.55 sq.m

Second Floor
Store 12.71 sq.m
Store 16.58 sq.m
Store 12.04 sq.m
Store 1.17 sq.m
Store 4.2 sq.m

Disclaimer 1
The Agents Property Auction have not inspected this property. The property details have been supplied by RMS. None of the services have been tested. Measurements, where given, are approximate and for descriptive purposes only. Boundaries cannot be guaranteed and must be checked by solicitors prior to exchanging contracts. The details are provided in good faith, are set out as a general guide only and do not constitute any part of a contract. No member of staff has any authority to make or give representation or warranty in relation to this property.
For sale by auction see www.agentspropertyauction.com

Disclaimer 2
Each auction property is offered at a guide price and is also subject to a reserve price. The guide price is the level where the bidding will commence. The reserve price is the sellers minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price, which may be up to 10% higher than the guide price, is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction. The successful buyer pays a £1000+vat (total £1200) Auction Administration Fee. At your request we can refer you to a North East based Solicitor from our panel. It is your decision whether you choose to deal with them, should you decide to use them you should know that we would receive a referral fee of £120 including Vat from them for the recommendation.

Disclaimer 3
A copy of the title is available upon request, we recommend all potential buyers take legal advice, satisfy their requirements on all matters and have finance in place prior to purchase.
Details awaiting vendors approval.

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