Lot 87 - 48 Newbottle Street, Houghton Le Spring, Tyne and Wear, DH4 4AF
- Unconditional Online Auction Sale
- Guide Price* : £65,000
Three storey commercial property
Description
The subject property comprises a traditional brick-built mid-terrace retail unit, constructed in the early 20th century and most recently occupied by William Hill. The accommodation is arranged over three levels: basement, ground floor and first floor.
The ground floor offers a generous retail area, formerly fitted with a betting counter, together with a staff room/kitchenette and both staff and customer W.C. facilities.
The first floor is currently vacant unused space, and has been sealed off by the previous tenant.
The basement, accessed from the rear of the property, provides ample storage space, a small kitchenette and further W.C. facilities.
To the rear, the property benefits from a small yard enclosed by cast-iron gates, offering potential parking for a limited number of vehicles and direct access to the back lane.
Newbottle Street serves as the principal commercial thoroughfare in Houghton-le-Spring, offering a diverse mix of local amenities. The street is home to a variety of small, family-run businesses alongside established national retailers such as Greggs and Lidl, contributing to strong local footfall and a well-supported catchment area.
Houghton-le-Spring is a well-established town located approximately 6 miles west of Sunderland and 7 miles north-east of Durham. The town benefits from excellent regional connectivity, being positioned close to the A690 which provides a direct link between Sunderland and Durham and within easy reach of the A1(M), offering convenient access to Newcastle upon Tyne, Gateshead, and the wider North East region.
1. This lot is for sale subject to unconditional auction terms.
2. If the reserve price is met or exceeded, contracts will exchange with immediate effect upon the close of the auction.
3. Following exchange of contracts, parties have 28 days in which to complete the purchase (unless specified otherwise in the special conditions).
4. A non-refundable deposit of 5% is payable within 1 hour of the auction closing.
5. The winning bidder is to make payment to the auctioneer a reservation fee of 6% including VAT subject to a minimum of £6,000 including VAT. The reservation fee is payable in addition to the purchase price and is payable within 1 hour of the auction closing.
6. An administration charge of £714 including VAT is payable by the successful buyer within 1 hour of the auction closing.
7. A legal pack has been provided by the seller’s solicitor and is available to download. We strongly recommend reviewing this thoroughly and discussing any queries with your solicitor prior to bidding.
8. I acknowledge that the seller may accept my bid at any time prior to the scheduled auction end date.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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