This online auction concludes on 10th August at 1pm, please contact a member of the team for further information. For sale via the modern method of auction, a large commercial property extending to 508m2, shop frontage and office space. Accessible and secure storage and warehouse space, with the potential for redevelopment subject to the necessary consents.

The Property
The main entrance opens into a central hall and stair way. The shop front lies to the right hand side with shutters concealing the store room behind for easy re-stocking.

The main office lies to the left hand side of the hallway with bay window over looking the main street. To the first floor there are extensive store rooms, offices, male and female WC facilities and a passage leads through into the rear store room connected to the store room at the rear by a secondary staircase which also has a pulley/lift system for moving heavy goods.

Further extensive warehouse space lies to the rear of the property with roller shutter doors providing vehicular access points between the road at the rear and the covered loading bays. A wide passage connects the space with the two storey chapel conversion which has a number of retarders previously used for regulating temperature. A lift designed for transferring racks between the ground and first floor is found centrally in the converted chapel and the first floor space is accessed by two standard staircases.

This extensive commercial space would suit a variety of businesses or could be converted / part demolished to create residential properties with sufficient external space to the rear subject to obtaining the necessary consents.

Modern Method of Auction
This property is for sale by the Modern Method of Auction which is not to be confused with traditional auction. The Modern Method of Auction is a flexible buyer friendly method of purchase. We do not require the buyer to exchange contracts immediately; however, from the date the draft contract for sale is received by the Buyer's solicitor, the buyer has 56 days in which to complete the transaction; whilst using every endeavour to exchange contracts within the first 28 days. Allowing the additional time to exchange contracts means interested parties can proceed with traditional residential finance. Upon close of a successful auction, or if the vendor accepts an offer during the auction, the buyer will be required to make payment of a non-refundable Reservation Fee of 4.2% of the final agreed sale price including VAT - this is subject to a minimum of £6,000.00 including VAT - which reserves the property from sale by securing the transaction and takes the property off the market. The Reservation Fee is paid in addition to the final negotiated selling price. A non-refundable Buyer Information Pack fee of £200.00 including VAT towards the preparation cost of the pack, if the Buyer Information Pack has been produced and provided by iamsold. The Documents in the pack can then be used by your solicitor during the conveyancing stage of the purchase. It is recommended that you view the Buyer Information Pack before agreeing to your purchase. Fees paid to the Auctioneer may be considered as part of the chargeable consideration for the property and be included in the calculation for stamp duty liability. Further clarification for this must be sought from your legal representative. The buyer will be required to sign a Reservation Agreement to confirm acceptance of the terms prior to solicitors being instructed. A sample copy of the Reservation Agreement and all terms and conditions can be found in the Buyer Information Pack, which can be downloaded from the auction section of our website, or requested from our Auction Department. Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the starting bid, both the starting bid and reserve price can be subject to change. Terms and conditions apply to the Modern Method of Auction, which is operated by the Great North Property Auction powered by iamsold.

Tenure & Possession
The property is freehold and to be sold with vacant possession.

Services
It is understood that the property is serviced by mains electricity , water and drainage and mains gas.

Access
An adopted road leads to the rear of the building which provides vehicular access.

EPC Rating
This property has been certified with an EPC Rating of E.

Rateable Value
The current rateable value for the property is £3,500. Purchasers must make their own enquiries as to what rates will be payable during their occupation.

Local Authority
Durham County Council.

what3words
Every three metre square of the world has been given a unique combination of three words. A free App is available for iOS and Android smartphones and using the unique sequence of words below you will be able to pinpoint this property.
///groom.truck.host

Viewings
Viewings are strictly by prior appointment with George F. White.

Important Notice
Every care has been taken with the preparation of these particulars, but they are for general guidance only and complete accuracy cannot be guaranteed. If there is any point, which is of particular importance  professional verification should be sought.  All dimensions/boundaries are
approximate. The mention of fixtures, fittings &/or appliances does not imply they are in full efficient working order. Photographs are provided for general information and you may not republish, retransmit, redistribute or otherwise make the material available to any party or make the same available on any website. These particulars do not constitute a contract or part of a contract

The Area
Collingwood Street is the main retail and leisure area within the village of Coundon with other commercial offerings including takeaway restaurants, public houses, a pharmacy and Sainsbury’s Local. Coundon is located on the outskirts of Bishop Auckland which provides further amenities and Durham City Centre is located approximately 10 miles to the north-east. Road networks and transport links including the A1(M), A689 and A688 travelling east to west and north to south are all close at hand within 5 miles of the village which is set in a central location between a number of larger towns and cities.