£185,000

Retail premises for sale

  1. Property photo 1 of 1.

Offers in region of

£185,000

(£450.12/sq. ft)

Retail premises for sale

Frederick Street, Sunderland SR1

From 411 - 652 sq. ft

Local area information

Property location

Nearby amenities

  • Sunderland 0.1 miles
  • Hudson Road Primary School 0.2 miles
  • St Anthony's Girls' Catholic Academy 0.7 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

  • City centre investment property
  • Current income £22,400 pa*
  • 2 commercial tenants
  • Residential apartment on upper floors
  • 2 car parking spaces to rear
  • Potential for vacant possession of lgf *
Location
Located within the heart of Sunniside and main professional area close to a number of firms of Surveyors, Estate Agents and Solicitors etc.

Description
The building is arranged over 4 floors with car parking to the rear. The ground floor and basement are let to 2 separate businesses (see below) and the upper parts are in residential use with shared ground floor access. The basement however has independent access.

Accommodation
The property briefly comprises as follows:-
No.56 ft2 m2
Ground Floor
Office/treatment rooms and WC 411 38.18

Lower Ground Floor
Offices, stores and WC 652 60.57

No.56a Residential Flat
Arranged over ff and sf with shared gf entrance.
Externally 2 car parking spaces to rear

Tenure
We are advised the property is freehold and will be sold subject to the following tenancies: -

Ground Floor
Let to Xiao Lan Candler for a term of 3 years from 30th July 2024 at an annual rental of £8,000 on a Tenant Internal & Insuring basis.

Basement
Let to Cook Law for a term of 2 years from 16th May 2022 at an annual rental of £6,000 on a Tenant Internal & Insuring basis. The tenant is presently holding over.

No.56A (Residential flat)
Arranged over first and second floors let on an assured shorthold tenancy for 12 months from 22nd July 2024 at a rent of £700 pcm (£8,400 per annum).
VAT

We are advised the property is not subject to VAT.

Costs
Offers in the region of £185,000 (one hundred and eighty-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


• Rateable Value (rv)
The Valuation Office has confirmed the current Rateable Value is Ground Floor £4,200 & Lower Ground Floor £2,700. The Uniform Business Rate for the Rates Year 2024/2025 is 49.9p. If necessary, a written request should be made to the Local Authority for confirmation. The Residential Flat falls within Council Tax Band A.

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 C4282

EPC gf Rating 90/D, lgf Rating 48/B
Residential Part Rating 45/E

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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