£150,000

Retail premises for sale

  1. Property photo 1 of 1.

Offers in region of

£150,000

(£122.05/sq. ft)

Retail premises for sale

Frederick Street, Sunderland SR1

1,229 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

  • Commercial and residential investment property
  • City centre location in Sunniside Area
  • Fully let and producing £15,346.08 pa
  • With provision for fixed uplifts on retail element*
  • Well presented throughout
  • Arranged over 3 floors
Location
Situated within the heart of Sunniside quarter adjacent to Andrew Craig and is close to several firms of Surveyors, Estate Agents and Solicitors.

Description
The property is arranged as 2 separate units comprising ground floor hairdressing salon which has been extended to full site depth. There is also a residential apartment arranged over first and second floors with independent access from Frederick Street.

Accommodation
The property briefly comprises as follows:-

No.10 ft2 m2
Ground Floor
Salon and Premises 1229 32.42

No.10a (Residential Flat) ft2 m2
Arranged over 2 floors with self-contained access from Frederick Street

Tenure
We are advised the property if Freehold for the sale which is subject to the following tenancies:-

Ground Floor Shop (No.10)
Let to Steven Sanderson t/a Son of Sander hairdressing salon for a term of 4 years from 1st March 2024 at a stepped annual rental of £6,000, Year 1, £6,500 Year 2, £7,000 Year 3 and £7,200 Year 4 on an effective Fri basis with a Tenant option to break at the lease at expiry of the 2nd anniversary.

Residential Flat (No.10a)
Let on an Assured Shorthold Tenancy for a term of 12 months from 11th October 2024 at a rent of £778.84 pcm (£9,346.08 per annum).

Asking Price
Offers in the region of £150,000 (one hundred and fifty thousand pounds).
VAT

The property is not subject to VAT.

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 £7,100. 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. No.10a falls within Band A for Council Tax purposes.

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 C4279

EPC gf Rating 101/E
Residential Flat Rating 59/D

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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