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For Sale by Auction on 22nd August 2024, Freehold Mixed Use Building, Old Cooperative Building, Princess Road, Seaham, SR7 7QX

0.68 acres / Industrial / Mixed Use

For Sale - £175,000.00

Available - Last updated: 06 August 2024

For Sale by Auction on 22nd August 2024

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. 

 

Location

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.

Accommodation

Site area 0.28 hectares (0.68 acres)

Unit 1 - Ground Floor - Retail Business

Unit 2 - Ground Floor - Retail Business

Unit 3 - Ground Floor - Not Occupied

Unit 4 - Ground Floor - Not Occupied

Unit 5 - Ground Floor - Storage Business

Unit 6 - Ground Floor - Roofing Business

Office 1 - First Floor - Office/Store

Office 1 - First Floor - Storage

Rear warehouse, workshops, store and portacabin - Ground Floor - Multiple Occupiers

Telecoms ariel - Roof - Telecoms

Terms

Tenure - Freehold

Guide Price - £175,000

Tenancy - 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.

Specification

  • 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

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
Guide Price For Sale Freehold £175,000.00 NA

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Contact agents

Agency Team

BidX1 Commercial

020 3151 9502

Oliver Childs

BidX1 Commercial

020 3369 1655

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