Retail premises for sale in Fawcett Street, Sunderland SR1

£725,000 (£597.2/sq. ft)
Retail premises for sale 1,214 sq. ft*
Interested in this property? Call +44 191 686 1492 * or Request Details

* Calls to this number will be recorded for quality, compliance and training purposes.

Property features

  • Investment Opportunity
  • Sunderland City Centre
  • Current Achieving 91,000 pa
  • Ideal Location

Property description

Summary

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.

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.

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.

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.

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

Rateable Value

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

EPC

We await copy of the energy performance certificate.

Additional Information

For further information please contact our office direct on , or alternatively via e-mail on . 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.

Property info

* Sizes listed are approximate. Please contact the agent to confirm actual size.

Arrange Viewing

For more information about this property, please contact
Pattinson - Commercial, NE1 on +44 191 686 1492 * (local rate)

Contact Pattinson - Commercial about this property

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Pattinson - Commercial, and do not constitute property particulars. Please contact Pattinson - Commercial for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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