retail in SR1

Fawcett Street, Sunderland, Tyne and Wear, SR1 1SJ

OFFERS OVER
£725,000

Alternatively call 0191 580 1587 or email commercial@pattinson.co.uk

  • Investment Opportunity
  • Sunderland City Centre
  • Current Achieving £95,200 PA
  • Ideal Location

retail in SR1

The subject is an investment opportunity which forms part of a four storey mid terraced brick building in the heart of Sunderland City Centre.
Part of the sale will form the sale and lease back on ground floor retail accommodation.
When fully let the investment will potentially produce a yield in excess of 11% based on the asking price.

Summary

  • Property Type: Retail
  • Tenure: Freehold
  • Parking: None
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Location

The subject property is situated on Fawcett Street in the heart of Sunderland City Centre. The retail premises occupies a prominent location with various large retailers located nearby. Sunderland Train Station is also a reasonable distance away.

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Accommodation

Basement: consists of storage NIA approximately 112.8m2 (1,214 sq. ft.)
Ground floor: currently trading as Chinese supermarket NIA 112.8m2 (1,214 sq. ft.)
First floor: consists of a two bedroom communal flat.
Second floor: Consists of 2 x 3 bedroom communal flats:
Third floor: consists of 2 x 3 bedroom communal flats.

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Lease Terms

Ground floor and basement: We are advised that lease £25,000 on a 10 year lease agreement.
First, second and third floor: are all on year long rolling AST tenancy agreements.

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Investment Details

Ground Floor and Basement: £25,000 per annum
First Floor: £8,320 per annum
Second and Third Floor: £49,920

Total: £83,240

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Rateable Value

We have been advised that the Rateable Value for the Ground Floor and Basement is £28,380 per annum. Source: www.VOA.co.uk.

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EPC

We await copy of the energy performance certificate.

Additional Information

For further information please contact our office direct on 0191-425-1507, or alternatively via e-mail on commercial@pattinson.co.uk. With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.