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Investment Opportunity

Peterlee Offers over £100,000 Long leasehold (fees apply) REF: NE2045

Location

The premises are located on Burnhope Way which is the main route into the town from the A19 and the restaurant forms part of the main retail area.

Peterlee was founded as a New Town in 1948 located between Sunderland, Hartlepool and Durham with good road links via the A19 trunk road and a railway station at nearby Horden.

Property

Comprises a two-storey self-contained unit which was converted from a traditional local pub into a food driven restaurant in 2014.

The property was refurbished in 2014 and had a strong daytime and early evening trade driven by the food offer. Internally the property is configured to provide a large ground floor dining area with a separate private dining space off.  There is a large kitchen which has a service hatch into the restaurant.  There are separate ladies and gents toilet facilities plus various storage rooms. There is two bedroom living accommodation above.

Accommodation

Ground Floor

Main Bar Area              1,600 sq.ft. (150 sq.m.).

Private Dining Room      310 sq.ft. (  29 sq.m.).

Kitchen                             600 sq.ft. (  56 sq.m.).

Pot Wash

Cellar / Stores

Ladies Toilets

Gents Toilets

First Floor

Lounge

Bedroom 1

Bedroom 2

Kitchen

Bathroom

External

Outside Seating Area

Tenure

The premises are held on a 99 year lease from 1st December 1960.  We understand that the current ground rent is £175 per annum.  The title number is DU244262 and a copy of the register is available on request.                              

Rates

The premises are assessed as follows:

Rateable Value  £23,750

EPC

Rating C.

Money Laundering Regulations

In accordance with the current Anti-Money Laundering Regulations, the Purchaser or Tenant will be required to provide two forms of identification and proof of the source of income.

Auction Details

The auction pack is available from Agents Property Auction on 01661 831 360.

 

If you'd like to know more about how we work, give us a call on 0191 487 8566, always happy to help.

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