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1 Houndgate, Darlington, DUR
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Darlington, DL1 5RL
2,148 sq ft
For sale price:
£151.30 sq ft
2 Surface spaces are available
Restaurant, Security System, Disabled Facilities, Energy Performance Rating - C
The property comprises a three storey brick built building in retail use. The net internal area is 2,148 sq ft. The property is located on the south side of Houndgate, close to its junction with Blackwellgate. The property occupies a prominent position within the town centre close to the “Imperial Quarter” Grange Road area and in the vicinity of a variety of regional and
national retailers. Darlington Railway Station is located 0.4 miles to the southeast.
The investment opportunity comprises ground and first floor café/restaurant with the benefit of “Alfresco” seating area
adjacent accessed via French doors to the side together with versatile second floor accommodation with exposed
roof trusses which would provide for excellent open plan offices or ancillary accommodation for the restaurant
areas. The property has has been completely renovated by the client to an exceptionally high standard throughout providing well appointed contemporary style surroundings with the benefit of a lift, CCTV, gas fired central heating and fire alarm system. Outside, french doors lead from the ground floor restaurant area to a covered access with wrought iron gates and
alfresco dining area which is attractively presented with astro turf covering to ground, trellis work and pots etc. N.B. There are two boilers for the property one operates the ground floor and one serves the first and second floors.
The property is wholly let to Golden Brown Coffee Company Limited with two guarantors. The lease is for 15 years commencing December 2010. The tenant has an option to break the lease at the end of five years by giving six months prior written notice. Rent reviews three yearly, FRI obligation. Present rent payable £25,000 per annum, exclusive with rent rising to
£28,000 per annum in December 2012. The shop is listed in the current rating list from April 2010 at £13,500.
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