Summary - 23, MIDDLE STREET DH8 5QP
1 bed 1 bath Retail Property (high street)
Large-town retail with rear car-park access and conversion upside.
- Prominent glazed shopfront and central entrance onto Middle Street
- Circa 2,191 sq ft across ground, first and attic floors
- Direct rear access to Albert Road public car park (c.250 spaces)
- Freehold with redevelopment potential (subject to planning)
- Elected for VAT — VAT payable on purchase price
- Rateable value £12,000 (c.£6,000 pa if not exempt)
- Located in a deprived area with higher local crime levels
- Slow fixed broadband; some refurbishment likely required
A substantial mid-terraced stone-built retail premises occupying a prominent Middle Street position in Consett town centre. The ground floor offers a glazed shopfront with central entrance, front sales area, rear storage, small office, staff kitchen and WC; first floor and attic provide ancillary rooms previously used as workshops and storage. The property extends to about 2,191 sq ft and benefits from direct rear access onto a service lane adjacent to the large Albert Road public car park (c.250 spaces), making loading and customer access straightforward.
This freehold is well suited to an owner-occupier retailer or investor seeking a town-centre asset with redevelopment potential (subject to planning). Options include a vertical split to create self-contained ground-floor retail with separate rear residential accommodation, or conversion of upper floors to residential, office or mixed-use units — offering income diversification or value uplift for a buyer willing to invest.
Buyers should note material considerations: the area is classified as relatively deprived with elevated local crime levels and slow fixed broadband speeds. The property is elected for VAT, so VAT will be chargeable on the purchase price, and the rateable value is £12,000 (c.£6,000 pa payable if not eligible for Small Business Rates Relief). Some internal reconfiguration and refurbishment will be needed to modernise the upper floors and to realise conversion potential.
Overall this is a rare chance to acquire an extended high-street freehold in Consett’s prime retail parade with good immediate footfall, strong car park access and clear scope for added value through refurbishment or change of use, subject to the necessary consents.
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