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80 Newgate St 56,988 sq ft Retail Property Bishop Auckland DL14 7EQ £500,000 (£8.77/sq ft)
INVESTMENT HIGHLIGHTS
- Served by good transport links
- Grade two listed former department store
- Close to amenities
- Development opportunity with planning permission for hotel or residential scheme
EXECUTIVE SUMMARY
Development opportunity with planning permission for hotel or residential scheme.
The grade two listed former Beales department store occupies a prominent position on Newgate Street and is spread over three floors offering approximately 55,000 sq ft. of accommodation. The site boundary extends to approximately 0.63 acres (0.25 ha).
Durham County Council granted outline planning permission for the site in December 2019. The Outline consent incorporates the following separate applications: DM/19/02223/FPA: Change of use of former department store to 3 no. ground floor units with flexible A1/A3 use and 62 no. bedroom hotel, associated internal and external alterations and partial demolition. DM/19/02221/FPA: Change of use of former department store to 3 no. ground floor units with flexible A1/A3 use and 27 apartments, associated internal and external alterations and partial demolition.
The grade two listed former Beales department store occupies a prominent position on Newgate Street and is spread over three floors offering approximately 55,000 sq ft. of accommodation. The site boundary extends to approximately 0.63 acres (0.25 ha).
Durham County Council granted outline planning permission for the site in December 2019. The Outline consent incorporates the following separate applications: DM/19/02223/FPA: Change of use of former department store to 3 no. ground floor units with flexible A1/A3 use and 62 no. bedroom hotel, associated internal and external alterations and partial demolition. DM/19/02221/FPA: Change of use of former department store to 3 no. ground floor units with flexible A1/A3 use and 27 apartments, associated internal and external alterations and partial demolition.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Department Store
Property Size
56,988 sq ft
Costar Property Class
B
Year Built
1800
Price
£500,000
Price per sq ft
£8.77
Tenancy
Single
Number of Floors
4
Plot ratio
1.64
Total Plot Size
0.80 ac
Frontage
151 ft on Newgate Street
AMENITIES
- Corner Lot
- Roller Shutters
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NEARBY MAJOR RETAILERS
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80 Newgate St
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