Betfred & Flat, Bishop Auckland

Property Description

• Freehold Betting Office and Residential Investment
• The property is arranged on basement, ground and two upper floors to provide a ground floor betting shop with basement storage and ancillary accommodation on the first floor.
• The second floor provides a self-contained flat which is accessed from the rear.

Location Description

• Bishop Auckland is an attractive market town with a population of some 26,000, located on the River Wear 9 miles south of Durham and 13 miles north of Darlington.
• The property is located on the western side of the pedestrianised Newgate Street, in the heart of the town centre, in close proximity to the Newgate Shopping Centre.
• Occupiers close by include Heron Foods (adjacent), Holland & Barrett, Poundland, Boots the Chemist, Dorothy Perkins (opposite), Clinton Cards, Topshop, Poundworld, EE, WH Smith and Greggs, amongst many others.

Additional Notes

• The entire property is at present let by way of lease assignment to DONE BROTHERS (CASH BETTING) LIMITED (t/a Betfred) from Coral Estates Ltd for a term of 15 years from 6th November 2004.
• Current rent of £37,500 p.a, the lease provides for rent reviews every fifth year of the term and contains full repairing and insuring covenants