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Property Listing Details

Property details

  • Floor area From 1,454 - 2,933 sq. ft

Features

  • City Centre former restaurant premises
  • Comprising 2 adjoining interconnected buildings
  • Available as a whole or as 2 separate buildings
  • From 1454 ft2 (135.07 m2) to 2933ft2 (272.47 m2)
  • Car parking to rear
  • Leasehold of whole also available

Listing view statistics

Last 30 days: 27 page views

Since listed: 74 page views

Description

Location
Olive Street is situated on the Western fringe of the City Centre linking Park Lane with Stockton Road. Nearby occupiers mainly consist of local independent retailers together with a number of the city’s bars and restaurants. Sunderland College’s new £30m City Campus Building and The Park Lane Transport Interchange are also within very close proximity. The property is shown for identification purposes on the attached Goad plan.

Description
The property comprises 2 adjacent and interconnected buildings is arranged over ground, first and second floors comprising former restaurant with ancillary accommodation on the first floor which could be utilised as additional restaurant or function room space. Storage is provided at second floor level and there is parking for 1-2 vehicles at the rear. The premises have been occupied as a restaurant for a number of years but may suit alternative uses including retail/bar/leisure subject to planning. Each building has separate services and access and therefore the property is available as a whole or as 2 individual buildings.

Asking Price
£110,000 plus VAT per property or
Offers in the Region of £220,000 for the whole.

Tenure
We are advised the property is Freehold.

Leasehold
Alternatively, a new Lease is available for the whole property is available at a commencing annual rental of £16,500 on terms to be agreed.

Costs
Each party will be responsible for their own Legal Fees incurred in the transaction.

Viewing
Contact – Mario Jaconelli or Alexa Reavley


• VAT
Figures quoted exclude VAT where chargeable.

Rateable Value
The Valuation Office has confirmed the Rateable Value(s) as follows:

Restaurant and Premises £19,000

The Uniform Business Rate for the Rates Year 2019/2020 is 49.1p. If necessary a written request should be made to the Local Authority for confirmation.

Money Laundering Regulations
In accordance with Anti –Money Laundering Regulations, the Purchaser/Tenant will be required to provide 2 forms of identification together with confirmation of the source of funding.

Disclaimer
None of the equipment or systems within the premises have been tested by the Agent and it is the responsibility of the Purchaser/Lessee to ensure that they are in working order.

Prepared Feb 2019 EPC Energy Rating D Ref C3708

Map & Nearby

Local Amenities

  • Sunderland 0.2 miles
  • Seaham 4.9 miles
  • St Anthony's Girls' Catholic Academy 0.3 miles
  • Argyle House School 0.4 miles

Local map of the area

Map View Map showing location of property

Local Amenities

  • Sunderland 0.2 miles
  • Seaham 4.9 miles
  • St Anthony's Girls' Catholic Academy 0.3 miles
  • Argyle House School 0.4 miles
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Property descriptions and related information displayed on this page are marketing materials provided by Lofthouse and Partners Ltd. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Lofthouse and Partners Ltd for full details and further information.