The Old Powerhouse at Garden Cottage, Plawsworth, Durham, DH3 4EQ
0191 731 8660
| Property Type | Investment |
| Tenure | For Sale |
| Size | 3,102 sq ft |
| Price | Offers in excess of £295,000 |
| VAT | Not applicable |
| Energy Performance Rating | Property graded as B-D |
Consett is an established County Durham town situated approximately 14 miles south-west of Newcastle upon Tyne and 13 miles north-west of Durham City, with access to the surrounding area via the A691 and A692.
Britannia Shops occupy a prominent position on Victoria Road within the town centre, close to the bus interchange, public car parks and a range of retail, leisure and service businesses.
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A town centre mixed-use investment providing two ground-floor commercial units and a substantial three-bedroom flat.
Unit 2 provides bar/restaurant accommodation with a commercial kitchen and extensive basement preparation and storage space. Unit 3 is a self-contained commercial unit with an independent entrance and accessible WC.
Britannia Flat was fully refurbished earlier in 2026 and provides three bedrooms, living accommodation, a fitted kitchen, bathroom and separate WC.
The sale also includes the freehold reversion of Unit 1, which has previously been sold on a long leasehold basis at a peppercorn ground rent.
| Description | sq ft | sq m |
|---|---|---|
| Unit 2 | 1,450 | 134.71 |
| Unit 3 | 360 | 33.45 |
| Britannia flat | 1,292 | 120.03 |
| Total | 3,102 | 288.19 |
Unit 2 is let to The Brit (Bar and Bites) for five years from July 2026, with a tenant-only break at the end of year three, at £14,400 per annum. Unit 3 is let to ALH House of Wellbeing for 18 months from August 2026 at £6,000 per annum. The combined commercial income is £20,400 per annum. Both commercial leases are held in individual names, with rent deposits held for each tenancy.
Britannia Flat is let at £775 per calendar month (£9,300 per annum), bringing the total rental income to £29,700 per annum.
A full tenancy schedule is available to qualified purchasers upon request.
We are instructed to seek offers over £295,000 (Two Hundred and Ninety-Five Thousand Pounds), subject to contract, for the freehold interest subject to the existing occupational interests.
A purchase at £295,000 reflects a gross initial yield of 10.07%.
Unit 2 — Rateable Value: £6,500
Unit 3 — Rateable Value: £4,050
Britannia Flat — Council Tax Band A
We understand that VAT is not applicable to the sale.
Each party to be responsible for their own costs incurred in the transaction.
Unit 2 — B (48)
Unit 3 — C (70)
Britannia Flat — D (67)
In accordance with anti-money laundering regulations, identification and confirmation of the source of funding will be required from the purchaser.
Established in April 2017, Graham S Hall Chartered Surveyors are a highly regarded independent firm of Chartered Surveyors and commercial property agents based in Durham.
We are passionate about property and getting the best results for our clients. We pride ourselves on hard work and giving good honest advice, irrespective of the fee and even when it might not be what the client wants to hear.
While our focus is primarily on sales, lettings and acquisition of retail, office, industrial and investment, we also offer extensive experience in asset management, development and lease advisory, such as lease renewal and rent review.
Our main core areas of work include:
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