£565,000
Retail premises for sale
Property photos
Offers in region of
£565,000
(£565,000.00/sq. ft)
Retail premises for sale
Thompsons Building, Houghton-Le-Spring DH4From 1 - 4,887 sq. ft
Local area information
Property location
Nearby amenities
- Shiney Row Primary School 0.4 miles
- Barnwell Academy 0.7 miles
- Chester-le-Street 3.8 miles
- Sunderland 4.9 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Features and description
Presenting an exceptional freehold investment opportunity situated in the heart of Houghton le Spring, within the sought-after vicinity of Thompsons Buildings (postcode DH4 4JF). This substantial mixed-use commercial property offers a versatile and attractive proposition for investors, featuring a well-established arrangement of ground floor retail spaces and self-contained upper-floor apartments.
Comprising five spacious retail shops, the ground floor is designed for maximum commercial appeal, attracting footfall from local residents and passers-by alike. Upstairs, four thoughtfully-configured residential apartments provide secure and desirable accommodation, appealing to the thriving rental market in the area. Together, the property generates an impressive annual rental income of £57,839.88, reflecting a strong Net Initial Yield of 10.24% at the current asking price-making this a promising addition to any property portfolio.
Philadelphia, on the edge of Houghton le Spring, enjoys an enviable location roughly equidistant between Durham and Sunderland. Thompsons Buildings benefits from direct access to local amenities, with cafes, takeaway restaurants, and convenience stores just a stroll away, catering effortlessly to both residential tenants and retail customers. Excellent transport links are close at hand, with major road networks such as the A182, A690, and A1(M) making for easy accessibility to the surrounding towns and cities, while regular public transport options ensure convenient movement across the region.
The surrounding area presents a blend of residential warmth and commercial vitality, with a close community atmosphere and tranquil green spaces, including the popular Herrington Country Park and Penshaw Monument within a short drive. Business and leisure needs are well provided for, making this a well-rounded opportunity for continued rental success.
All in all, this is a remarkably rare chance to acquire a stable, income-generating mixed-use building in a prominent corner of County Durham. Early viewing is strongly recommended to appreciate the full scope and potential of this outstanding investment. Arrange your visit today.
Comprising five spacious retail shops, the ground floor is designed for maximum commercial appeal, attracting footfall from local residents and passers-by alike. Upstairs, four thoughtfully-configured residential apartments provide secure and desirable accommodation, appealing to the thriving rental market in the area. Together, the property generates an impressive annual rental income of £57,839.88, reflecting a strong Net Initial Yield of 10.24% at the current asking price-making this a promising addition to any property portfolio.
Philadelphia, on the edge of Houghton le Spring, enjoys an enviable location roughly equidistant between Durham and Sunderland. Thompsons Buildings benefits from direct access to local amenities, with cafes, takeaway restaurants, and convenience stores just a stroll away, catering effortlessly to both residential tenants and retail customers. Excellent transport links are close at hand, with major road networks such as the A182, A690, and A1(M) making for easy accessibility to the surrounding towns and cities, while regular public transport options ensure convenient movement across the region.
The surrounding area presents a blend of residential warmth and commercial vitality, with a close community atmosphere and tranquil green spaces, including the popular Herrington Country Park and Penshaw Monument within a short drive. Business and leisure needs are well provided for, making this a well-rounded opportunity for continued rental success.
All in all, this is a remarkably rare chance to acquire a stable, income-generating mixed-use building in a prominent corner of County Durham. Early viewing is strongly recommended to appreciate the full scope and potential of this outstanding investment. Arrange your visit today.
More information
Listed by
Spire Property Group and Consultants
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