£495,000

Office for sale

  1. Property photo 1 of 1.

Offers in region of

£495,000

(£77.84/sq. ft)

Office for sale

Frederick Street, Sunderland SR1

6,359 sq. ft

Local area information

Property location

Nearby amenities

  • Sunderland 0.1 miles
  • Hudson Road Primary School 0.3 miles
  • St Anthony's Girls' Catholic Academy 0.6 miles
  • Seaham 5 miles

These distances are calculated in a straight line. The actual route and distance may vary.

Read our area guide for Sunderland to find out more about the local area.

Features and description

  • Substantial city centre development opportunity
  • Located in the heart of Sunniside area
  • Corner position with vacant upper floors
  • Well let offices and café producing £28,000 pax*
  • Increasing to £31,000 in April 2025
  • Total floor area 9,603 ft2 (892.12 m2)
  • Low Capital value £51.50 ft2 overall
Location
Arngrove House is located at the junction of Frederick Street and St Thomas Street immediately adjacent to Richard Reed Solicitors in the heart of the main professional area. Nearby professional occupiers include Solicitors, Surveyors and Estate Agents together with specialist independent retailers and residential apartments forming part of the wider Sunniside Area.

Description
Arranged over ground, lower ground, first and second floors with extensive prominent frontage to Frederick St and St Thomas St being largely open plan. The ground floor and basement are occupied on leases as follows:-

Ground Floor Office
Let to Midshires Care Limited crn 02272990 t/a Helping Hands on efri lease for a term of 9 years from 6th April 2022 at a passing annual rental of £15,000 increasing to £18,000 pax on 6th April 2025 and £19,000 pax on 6th April 2028.

The tenant had an option to break the lease with effect from 5th April 2025 but did not exercise it by serving 6 months’ notice. The tenant has a further option to break on 5th April 2028 on serving 6 months’ notice.

Ground floor Café and Basement
Let to City Tea Rooms Limited on efri lease for a term of 10 years from 25th August 2022. The passing annual rental is £18,000 subject to annual rpi increases. Current concessionary rent £13,000 pa

The upper floors have independent access from Frederick Street and are vacant and would readily convert to residential use subject to planning.

Accommodation
ft2 m2
Ground floor

Offices NIA 1628 151.24

Café NIA 710 65.96
First floor

Offices NIA 2542 236.15
Second floor

Offices NIA 2189 203.36
Basement

Former Bar/Restaurant/Stores 2534 235.41

total 9603 892.12

Tenure
We are advised the property is Freehold.

Asking Price
Offers in the region of £495,000 (four hundred and ninety-five thousand pounds)

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

Viewing
Contact – Mario Jaconelli or Alexa Reavley

Tel VAT
The property is subject to VAT.

Rateable Value (rv)
Currently subject to appeal. Further details on request.

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.

Ref EPC
C3868 Ground Floor Energy Rating 102/E
Upper Floors – Awaiting info
Joint Agents
Naylors Gavin Black
Fergus Laird

More information

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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.

  1. Zoopla
  2. Commercial for sale
  3. Tyne & Wear
  4. Sunderland
  5. Sunderland City Centre
  6. Frederick Street

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