Lot

63

3 Front Street, Hetton-le-Hole, Houghton Le Spring, DH5 9NU

Property Enquiries

Simon Bailey

simon.bailey@bidx1.com
+44 (0) 20 3929 8403

Viewing Registration / Enquiries

BidX1 Support Team

info@uk.bidx1.com
+44 (0) 20 7703 4401

Vendor Solicitor

Shinal Badiani

shinal.badiani@clarkewillmott.com
0238 008 2000

Description

Map

Viewings


Property Summary
  • Freehold bank investment
  • Let to Barclays Bank plc until 2027 (1) (2) (3)
  • Large site with rear car parking
  • Future development potential (subject to consents)
  • Producing £25,000 per annum
Tenure

Freehold

Location

Hetton-le-Hole lies about 6 miles north east of Durham and 2 miles south of Houghton le Spring. It is accessed via the A182, which links to the A690 providing access to the A1(M) at junction 62 about 5 miles to the west.

Situation

The property is situated on the west side of Front Street in the town centre opposite its junction with Caroline Street. Nearby occupiers include Tesco Express, Greggs, Coral and Heron Foods.

Description

An end of terrace building of modern construction arranged over ground and first floor. The building provides a ground floor banking hall with ancillary accommodation on the first floor. Externally there is a car park to the side and rear providing parking for about 9 cars.

The property may offer alternative use potential, subject to obtaining the necessary consents. Prospective purchasers are advised to make their own enquiries.

Tenant Information

(1) For the year ending 31 December 2017 the tenant reported a turnover of £8.775 billion, a pre-tax profit of £3.166 billion and a net worth of £60.829 billion. (Source: Experian)
(2) There is a tenants break clause on 22 January 2022
(3) Rent review on 22 January 2022
(4) The lease contains a schedule of condition

(5) The tenant is not in occupation

Planning

Sunderland City Council (0191 520 5506) www.sunderland.gov.uk

VAT
Please refer to Legal Documents
Property Table
Floor Accommodation Size Tenant Tenancy Rent (£pa)
Ground Banking hall/ancillary 387.86 sq m (4,175 sq ft) Barclays Bank plc (1) (5) 20 years from 22 January 2007 (2) (4)  
First Offices/ancillary 75.43 sq m (812 sq ft)      
TOTAL   463.29 sq m (4,987 sq ft)     £25,000 (3)
EPC

Rating 68 Band C


No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the vendor in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the vendor. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the vendor. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor.