Fully tenanted retail investment. Mid-terraced three-storey commercial property. Approximate floor area of 127 sq. m. (1,367 sq. ft.). Rent £8,000 per annum. Let to Supremetanuk Salon Ltd. Tenant due to vacate on 15 March 2027. Prime town centre position with excellent passing trade. Attractive gross yield of approximately 12.3%.
Auction Guide Price £65,000 +
Ref I547
Live Auction on Thursday 29th October 2026 - Option 1
For Sale by Auction. Terms and Conditions apply.
Each auction property is offered at a guide price and is also subject to a reserve price. The guide price is the level where the bidding will commence. The reserve price is the seller’s minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price, which may be up to 10% higher than the guide price, is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction. The successful buyer pays a £2,000+VAT (total £2,400).
Location
Bishop Auckland is located about 25 miles south of Newcastle upon Tyne, 21 miles south of Sunderland and 9 miles north-west of Middlesbrough. The town has excellent transport links, being about 6 miles west of junction 60 of the A1(M) motorway via the A688 and about 3 miles from the A68 Darlington to Edinburgh road. The property is located on the main shopping parade, Newgate Street to the south of the town centre.
Description
The property comprises a mid-terraced three-storey commercial premises of traditional red brick construction beneath a pitched roof. Extending to approximately 127 sq. m. (1,367 sq. ft.), as measured from the Energy Performance Certificate, the property occupies a prominent position within an established retail parade and is currently fitted out as a tanning salon.
The accommodation provides a modern open-plan retail area to the ground floor, with ancillary accommodation arranged over the upper floors. The property benefits from an attractive glazed shop frontage and has been maintained to a good standard by the current occupier.
The property is currently let to Supremetanuk Salon Ltd at a rent of £8,000 per annum under a lease expiring on 15 September 2028. The tenant has, however, served notice to terminate the lease and will vacate the premises on 15 March 2027, providing purchasers with the benefit of an income-producing asset in the short term together with future asset management, owner-occupier or redevelopment opportunities, subject to any necessary consents. The property may be suitable for a variety of alternative commercial uses following vacant possession, subject to obtaining any requisite statutory consents.
Tenancy Information
Property: Newgate Street
Description: Three Storey Retail Unit
Tenant: Supremetanuk Salon Ltd
Floor Area: 127 sq. m. (1,367 sq. ft.)
Current Rent: £8,000 per annum
Lease Details
The property is currently let to Supremetanuk Salon Ltd on a lease expiring 15 September 2028. The tenant has served notice to terminate the lease and will vacate the premises on 15 March 2027, providing an opportunity for owner-occupiers, investors or prospective tenants to secure the property thereafter.
Yield
Total rental income: £8,000 per annum, reflecting an attractive yield of 12.3%
Tenure
Freehold
Auction Guide Price
£65,000 +
Rateable Value
The 2026 Rating List entry is Rateable Value £6,500
As the RV is below £12,000, occupiers for whom this property forms their sole trading premises will not pay business rates. We advise to seek verification of the above from the Local Rating Authority.
EPC Rating
D
Auction
Thursday 29th October 2026 - Auction terms and conditions apply (Option 1)
Viewing Arrangements
Strictly by appointment through this office.
