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Historic Landmark refurbishment opportunity
Ideal residential conversion in Central Location
Total Net Floor Area 12,000ft2 (approx.15000 gross)
Currently Part Income Producing
Location The property is centrally located on Fawcett Street which is a secondary retail location within the city centre opposite the Post Office and Virgin Money and close to Wilkinson’s and Sunderland Railway and Metro Station. In addition, the property is ideally situated for access to Sunderland Nightlife including Bars, Restaurants and Cinema. There have been a number of student residential developments close by and the property would lend itself to a studio apartment style development. Capable of producing in excess of 24 units with communal space whilst retaining ground floor retail.
Description Corder House (21) and Sydenham House (22) are a pair of adjoining Grade II Listed Buildings designed by renowned Architect Frank Caws who also designed The Elephant Tea Rooms in Fawcett St. The properties were built in the 19th Century in Neo-Moorish Style and represent 2 of the finest Architect designed buildings remaining in the City Centre.
Both properties provide Retail accommodation presently at ground floor level with 3 stories above and no 21 also benefiting from a large basement. The property is capable of producing in excess of 24 units with communal space whilst retaining ground floor retail. No 21 is currently occupied and income producing but can be terminated on 3 months notice.
Accommodation The property briefly comprises as follows:- ft2 m2 Corder House (21) Net Internal Area 6700 622
Sydenham House (22) Net Internal Area 5423 504 Total Net Internal Area 12’123 1126
Gross Internal Area Approx 15’000 1394
Tenure We are advised the properties are held Freehold.
Corder House (21) is currently let on lease to Furniture Express at a rent of £24,000 per annum. There is provision in the lease for this rent to be increased to £33,000pa in September 2021. There are also mutual rolling break clauses where either party can terminate the lease on 3 months notice. Asking Price Offers in the region of £475,000 (four hundred and seventy five thousand pounds)
Viewing Contact – Marc Weaver or Alexa Reavley
• • • VAT Figures quoted exclude VAT where chargeable.
Rateable Value (rv) The Valuation Office has confirmed the Rateable Value for No.21 is £37,500 and No.22 is £36,250. The Uniform Business Rate for the Rates Year 2021/2022 is 49.9p. If necessary, a written request should be made to the Local Authority for confirmation.
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.
Corder House - Band D Sydenham House – Being reassessed prev Band E
For more information about this property, please contact Lofthouse and Partners Ltd, SR1 on +44 191 723 0021 * (local rate)
Contact Lofthouse and Partners Ltd about this property
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Lofthouse and Partners Ltd, and do not constitute property particulars. Please contact Lofthouse and Partners Ltd 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.