About this property

Key features
  • FOR SALE BY ONLINE AUCTION - 17th March 9am - 19th March 2pm
  • Minimum opening bid of £65,000+
  • New five year lease to Ladbrokes Betting and Gaming Ltd which commenced March 2024
  • The guide price represents a gross yield of 12.1%
  • For further details contact the Auction Team on 01223 213777
Description
A well-let commercial investment property let to Ladbrokes Betting and Gaming Ltd, in the centre of the village of Leadgate. The property had traded as a betting shop for many years. New five year lease to Ladbrokes Betting and Gaming Ltd at rebased rent of £8,200pa. The investment property comprises a lock-up ground floor shop. Accommodation 620 sq ft (57 sq m). The upper floors are held separately. The property is owned on a long leasehold basis, by way of a 999 year long lease from the 1st September 2011, therefore with approximately 985 years remaining. The property is fully let on full repairing and insuring terms to Ladbrokes Betting and Gaming Ltd at a rent of £8,200 per annum with a tenant only break option on the 24th March 2027. The new 5 year lease commenced on 25th March 2024. See legal pack for details. The guide price represents a gross yield of 12.1%, which should appeal to investor buyers.

Get in touch

Sarah Jacobs
Sarah Jacobs BA (Hons)
Commercial Property Assistant

01223 271947

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From
£65,000
33 Front Street, Leadgate, Consett, Durham, DH8 7SB
620Sq.ft
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