33, Craddock Street, Spennymoor, County Durham

Mixed use property which when fully let could generate 11-12% gross return on investment, at the full asking price. It is well presented inside and out, meaning that any buyer will have little costs to get the property let out.

The shop on the ground floor consists of a main retail space with wall mounted electric radiators and tiled flooring. It features a utility space with sink, a cloak/wc and a secure store - This space could potentially be further divided to create a second rental income from the ground floor. The shop has remote controlled roller shutters to provide additional security.

The first floor apartment is also well presented and features a set of stairs from the ground floor which opens into an open plan living room with kitchen made up of units in high gloss cream with worktops and some integrated appliances. the kitchen also features a rear door which opens onto the terrace which would provide additional living space for sitting outside in warm weather. The layout is completed with two bedrooms.

Craddock Street is located a short distance from the main streets of Spennymoor town. Here a large selection of shops and amenities can be found including doctors surgery, large national chain supermarkets, a number of pubs and restaurants and food outlets as well as independent traders, beauty salons, barbers and healthcare.

MATERIAL INFORMATION

The information below is provided in accordance with the consumer protection requirements of the Digital Markets, Competition and Consumers Act 2024 and is intended to highlight matters which may be material to a prospective purchaser when deciding whether to view, offer on or proceed with this property.

Local Authority – Durham County Council

Council Tax Band – Flat Band A - Shop - Rateable value £1676 PA

Tenure – Freehold

Property Type – Mixed use end of terrace

Property Construction – Standard/ non standard

Number & Types of Rooms – Please refer to the details and floorplan, all measurements taken being the maximum dimensions available between internal walls

Gas Supply- Mains

Electricity supply – Mains

Water Supply – Mains (not metered)

Sewerage – Mains

Heating – Gas fired central heating via radiators and electric radiators

Estimated Mobile phone coverage – Please refer to the Ofcom Website - https://checker.ofcom.org.uk/en-gb/mobile-coverage

Estimated Broadband Download speeds – please refer to the Ofcom Website – https://checker.ofcom.org.uk/en-gb/broadband-coverage

Parking- on street

Building Safety – (The Vendor is not aware of any Building Safety issues. However, we would recommend that the purchaser engages the services of a chartered surveyor to confirm)

Restrictions – Covenants which affect the property are contained within the Land Registry Title Register which is available for inspection.

Selective licencing area – yes

Article 4 Planning Restricted area – the property is subject to Article 4 Direction

Conservation Area – N/A

Rights & Easements- None

Flood risk – Rivers and seas: very low Surface water: very low

Coastal Erosion – N/A

Protected Trees - NA

Planning Permission – There are no current planning applications in the locality that we are aware of. Or planning details that are known

Accessibility/Adaptations – The property has not been altered for accessibility

Mining Area – Coal Mining Reporting Area, further searches may be required.

The information has been obtained from the seller and, where appropriate, from publicly available or other relevant sources, and has been compiled in good faith. Information supplied by third parties or external sources may be subject to change.

J W Wood is not qualified to provide legal, surveying, structural or other specialist advice. Where any information requires legal or technical interpretation, or where any matter is of particular importance to your decision to purchase, you should seek appropriate verification from your conveyancer, surveyor or other suitably qualified professional before committing to significant expenditure.

Buyer Identity & AML Checks

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