Retail premises for sale in St. Thomas Street, Sunderland SR1

Guide price £25,000 (£55.56/sq. ft)
Retail premises for sale 450 sq. ft*
Interested in this property? Call +44 191 686 9796 * or Request Details

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

Property description

Location


The business is located on St Thomas’ Street close to the junction with John Street and in an area of mixed office, retail and residential space. The City is enjoying some significant investment with a new road bridge and trunk road into the centre to support the good public transport links. The Metro line runs into Newcastle and ultimately the Airport and the railway station offers direct links to London and other parts of the UK.


Business


This is a well-established business which has been trading successfully in the City for a number of years but in our clients’ hands for the last 2 years. The opportunity has been placed on the market as our client is looking to concentrate on their other business concerns. The retail shop offers a wide range of food items including confectionery, drinks, dry goods and alcohol. The majority of the items sold are “short date” items which generally means the best before date has passed but not the use by date. The shop has a strong reputation for this niche market with a regular and loyal customer base which could be grown further by new enthusiastic owners through marketing and social media platforms.
Within the immediate area there are a number of new student developments being built and it would be expected that this influx of residents would benefit the shop trade the unit is configured to provide a ground floor retail area together with storage rooms and staff space to the upper floor.

Accommodation m² (ft²)
Ground Floor Retail 40 450
Upper floor storage

EPC Rating
Energy Rating: G (158)
.

Rating assessment


Description rv Estimated Rates Payable
Shop and premises £19,750 £9,480

We are advised that the rateable value of the premises as at 1 April 2017 is £19,750 and we have estimated the accrual rates payable for the current year above. This is based on the standard Small Business Rate of 48p in the pound. However, interested parties should confirm the current position with the Local Authority


Terms


We are verbally informed that the premises are held on 10 year lease from 2016 with a passing rent of £20,000 per annum. Interested parties should seek legal confirmation of this.


VAT


All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT.


Legal costs


Each party is to bear their own legal costs involved in the transaction.


Viewing


For general enquiries and viewing arrangements please contact Michael McGhin at Bradley Hall. Tel: Email:

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

Arrange Viewing

For more information about this property, please contact
Bradley Hall, NE1 on +44 191 686 9796 * (local rate)

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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 Bradley Hall, and do not constitute property particulars. Please contact Bradley Hall 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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