A Well Located Residential Redevelopment Opportunity Comprising a Large Victorian (not listed) Building Formerly Used as an NHS Hospital Situated on a Substantial Plot Measuring Approximately 2/3 Acre. Offered with Planning Permission Under Permitted Development to Convert into 18 x One Bedroom

The property comprises a three storey Victorian building (previously used as a school and then a hospital) measuring 968 sq m (10,419 sq ft) arranged over ground and two upper floors offered in shell condition with existing permission to convert into 18 x one bedroom flats under Permitted Development Rules. In addition there are extensive grounds comprising a large car park and rear garden that offers a possibility of additional redevelopment of the site (subject to obtaining all relevant consents)

Tenure

Freehold

Location

The property is located in the heart of Bishop Auckland less than half a mile from the city centre. The open spaces of Northern Park are within easy reach. Transport links are provided by Bishop Auckland rail station. It is also close to the main roads serving the North East and enjoys access to local bus routes.

Tenancy

The current LHA rate for a one bedroom flat in the area is £74.79 per week. With 18 x 1 bedroom flats in the main building this would equate to £70,003 per annum (rounded). Significant additional income could be achieved by developing the substantial plot to the west of the main building.

Viewing Details

Please refer to: 020 7625 9007

Third Column

Planning In August 2013 Durham County Council approved under permitted development rules (ref: PNC/2013/0001): "Change of use from former NHS building (B1) (office) to 18 residential flats (C3)" In May 2015 the council also gave pre-application advice to support the "erection of a free standing apartment building" to the north of the existing car park. Full plans and letters are available for inspection.

Leasehold

False

Freehold

False

Part Vacant

False

Vacant

False

Let

False

Part Vacant

False

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Additional Fees

Administration Charge - Purchasers will be required to pay an administration fee of £1,500 inc VAT

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.