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Old Cooperative Building, Princess Road, Seaham, SR7 7QX

  • Subasta
  • Lote 8
  • Reino Unido
  • Uso Mixto
  • Comercial

Vendido por £251,000

Resumen de la propiedad

  • By order of the Joint Administrators
  • Freehold mixed use building
  • Includes retail, offices, storage and garage/warehousing and roof top telecommunications mast let to EE producing £6,000 per annum
  • Potential for redevelopment, subject to consents
  • Site area 0.28 hectares (0.68 acres)
  • There are multiple occupiers trading from the site under no formal arrangement

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Oliver Childs
Oliver Childs
El equipo está para ayudarte

Contactar con nosotros

Oliver Childs
Oliver Childs
El equipo está para ayudarte

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Descripción de la propiedad

The property comprises a two storey building fronting Princess Road, together with a mix of single storey rear warehousing, workshops and stores on a site of approximately 0.28 hectares (0.68 acres). 

The main building fronting Princess Road comprises a two storey building of brick construction arranged as six self-contained ground floor units with first floor office/store. 

We understand that four of the ground floor units are occupied.  There is internal and external access to the first floor office/store and we understand that the majority of this space is also occupied by one of the ground floor occupiers.

To the rear of the main building is a warehouse building and a number of smaller workshops, stores and yard area serving multiple occupiers mostly in the motor trade for car servicing and repairs and the building trade.  There is vehicular access to this part of the site from Vincent Street.  

There is a telecommunications mast on part of the roof space let to EE.

The property in the northern corner of the site at No. 43 Princess Road is not included in the sale.

Ubicación

The seaside town of Seaham is located approximately 6 miles south of Sunderland and 13 miles east of Durham on the north-east coast of England and not far from Newcastle-upon-Tyne.

The property is situated on the west side of Princess Road, opposite the junction with Eloise Close and close to the junction with Vincent Street, in a mainly residential area to the south of the town centre, Seaham railway station and to the west of Seaham Harbour.

Arrendamiento

There may be an opportunity to formalise the occupational arrangements with some of the existing occupiers who might be interested to pay rent and secure a tenancy at the property.

Planificación

For further enquiries please contact:

Durham County Council (0191 377 1889) www.durham.gov.uk

Estado de Ocupación

Freehold

Estado ocupacional

There are areas of the property that cannot be inspected.  Some of these areas are unsafe, the internal staircases for example, and there is a significant amount of storage in Unit 5 and across the majority of the first floor making it difficult to inspect these areas.

Viewings

We may be able to arrange inspection of some of the ground floor units and part of the first floor of the main building fronting Princess Road.

Viewings will be strictly by appointment only.  Please contact us for further information.

Datos adicionales

UnitFloorCurrent UserOccupierComments
Unit 1GroundRetail businessWhip it up (sowing business)Trading at date of inspection
Unit 2GroundRetail businessAbbies Boutiques Trading at date of inspection
Unit 3GroundNot occupiedNot occupiedAppeared generally clear of any furniture or other items
Unit 4GroundNot occupiedNot occupedAppeared generally clear of any furniture or other items
Unit 5GroundStorage businessIndividualWe understand the area is used for storage and is full of items that have been collected over a very long period so it is not possible to inspect this area.
Unit 6GroundRoofing businessIndividualNot inspected
Office 1FirstOffice/storeNot occupiedThis is a small area of the first floor that can be accessed via an external staircase to the left hand side of the property as you look from Princess Road.
Office 2FirstStorageIndividualThis is the majority of the first floor area that can be accessed internally from Unit 5 and Unit 4. The occupier also occupies Unit 5 on the ground floor.  We understand the area is used for storage and is full of items that have been collected over a very long period so it is not possible to inspect this area.
Rear warehouse, workshops, store and portacabinGroundMultiple occupiers mostly in the motor or building tradeIndividualsThere are possibly 6 - 8 individuals or small businesses occupying these areas.
Telecoms aerialRoofTelecomsEverything Everywhere Ltd20 years from 13/11/2006 at a rent of £6,000 per annum.  The agreement can be terminated by the tenant upon six months written notice to the owner.

We understand the combined floor area for all of the buildiings on the site is 2,154 sq m (23,185 sq ft).  Source: www.tax.service.gov.uk/business-rates-find/search 

There are no formal leases, licenses or tenancy agreements in place with any of the occupiers at the property, nor is any rent being paid or collected as far as we are aware (apart from Everything Everywhere Ltd for the roof top mast).  The information provided above is to assist interested parties with their due diligence, but it cannot be relied upon as we suspect the occupiers and the areas being occupied may change on an ad hoc basis.  The purchaser will need to understand the informal nature of the occupiers of this property and seek to regularise the position post completion of the sale.

We inspected the property on 17/06/2024.

Impuestos

Por favor refiérase a los documentos legales

Consumo energético

Refer to the legal pack

Enlaces Útiles

*Términos y Condiciones

Buyers are strongly advised to read these terms and conditions, and check the Special Conditions and any applicable Addendum, prior to bidding on a Lot. Additional costs, charges and encumbrances may apply for Buyers once they have made a successful bid in relation to a property.

  1. The reserve price is the minimum price at which the property can be sold at auction.
  2. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the guide price, or range of prices, is published. The sale price, whether prior to or at the auction, can be above or below the guide price depending upon market activity. BidX1 and the seller accept no responsibility for any losses, costs or damages incurred by a buyer as a result of relying on any guide price. The buyer must decide how much they should bid for any Lot. All guide prices are quoted subject to contract. Guide prices given by BidX1 or the seller cannot be accepted by the buyer as being a professional valuation for any purpose in accordance with the requirements or guidance notes of relevant professional bodies or other authorities.
  3. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any Lot may exceed the previously quoted guide price (as the seller may fix the final reserve price just before bidding commences).
  4. The guide price for the Lot does not include the administration fee of £1,295 (inclusive of VAT) for all properties up to £49,999, and £2,400 (inclusive of VAT) for all properties £50,000 and above charged by BidX1. In the case of a joint agent this administration fee will be £2,400 (inclusive of VAT). In addition, the guide price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.
  5. To participate in the sale BidX1 must hold a minimum amount from all bidders. This participation amount and administration fee is fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £4,795 comprises £3,500 relating to your bidder security (partial deposit payment) and an administration fee payable directly to BidX1. A higher participation amount may be payable depending on the reserve price of the Lot.
  6. Please note that Lots may be sold or withdrawn prior to auction.
  7. All Lots sold “Subject to Vendor Confirmation” will be subject to acceptance and confirmation by the Vendor. The highest bid will be presented to the Vendor, the Vendor will have to either accept, decline or make a counteroffer, within the confirmation period. Should the Vendor decide to make a counteroffer, then a private link will be sent to the Highest Bidder advising of the offer the Vendor is willing to accept. The Highest Bidder will be obliged to accept or reject the Vendor's counteroffer. The Vendor reserves the ultimate right, apart from the auctioneer, to accept and to decline to sell to the highest or any bidder, without giving any reasons.
  8. 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 seller in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the seller. 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 seller 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 seller shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the seller. 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 seller.
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