Retail Property (High Street)
A two storey town centre retail investment premises of traditional brick construction held beneath a dual pitched and tile covered roof.
The property is well-appointed throughout incorporating attractive glazed window frontage at ground floor level secured via steel electric shutters. The ground floor comprises an open plan and versatile sales area with rear sales/store and incorporates a suspended ceiling with spotlighting.
There is an additional sales area on the first floor with two offices/ stores and kitchen/ wc.
The property is presently occupied and T/A So Unique (furniture sales).
Ground Floor 83.41sq.m. 898sq.ft.
First Floor 54.55sq.m. 587sq.ft.
Net Internal Area 137.96sq.m. 1,485sq.ft.
The premises is held on the current lease terms:
Term: 4 years commencing 09/06/23
(Expires 08/06/27)
Break: 09/06/25
Rent: £12,500pax
Repairs: Full Repairing and Insuring
L&TA54: Protected
Yield at guide 13.88%
Post House Wynd is a popular retail thoroughfare linking Skinnergate with High Row in the heart of Darlington town centre. Post House Wynd incorporates a diverse variety of businesses including shops, cafes/ restaurants and professional services. All other town centre amenities are within convenient walking distance and there are a number of public car parking facilities available close by. Darlington is a popular market town approximately 14 miles west of Middlesbrough, 20 miles south of Durham and 30 miles south of Newcastle with swift transport links across the region via A66 and A1(M).
TENURE
Freehold - subject to tenancy. Tennant has exercised their break clause. Interested parties area advised to inspect the legal pack form more information.
These sales details are awaiting vendor approval.
Freehold. Subject to tenancy.
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold under an Unconditional sale type.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees
The following deposits and non- refundable auctioneers fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyers Fee of 4.8% of the purchase price (subject to a minimum of £6,000 inc. VAT).
The Buyers Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
