Retail premises for sale in Frederick Street, Sunderland SR1

Investment
20 Frederick Street
Sunderland
SR1 1LT

Location
This 4 storey mid terraced property is located on Frederick Street in Sunderland City Centre which is considered to be the professional district of the city with many surrounding occupiers including solicitors, estate agents amongst a mix of other retailers and cafes/restaurants.

Description
The property is arranged over 4 floors and is fully occupied by 3No tenants to the ground floor, first floor & second floor (attic) and a self contained basement. Within the building are shared WC’s and kitchen. To the rear is a yard for parking. Full lease details are available upon request.

Accommodation
The property briefly comprises as follows:-

ft2 m2
Ground floor 446 41.43

First Floor 760 70.60

Second Floor 463 43.01

Basement 464 43.11

total 2133 198.16

Tenure
The property is being sold on a freehold basis subject to the following leases in place:

Ground Floor
A lease for term of 1 year from 1st May 2019 at a passing rent of £4,680 per annum. The tenants are holding over on the lease.

First & Second Floor
A lease for term of 1 year from 5th April 2019 at a passing rent of £5,200 per annum. The tenants are holding over on the lease.

Basement
A lease for a term of 5 years from 1st July 2022 at a passing rent of £4,680 per annum. The tenant has a 6 months break clause

Asking Price
£160,000 (one hundred and sixty thousand pounds)

Costs
Each party will be responsible for their own Legal Fees incurred in the transaction.

Viewing
Contact – Marc Weaver or Alexa Reavley

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• VAT
Figures quoted exclude VAT where chargeable.

Rateable Value (rv)
The Valuation Office has confirmed the current Rateable Value is

Ground Floor: £4,750
First & Second Floors: £7,800
Basement: £3,450

The Uniform Business Rate for the Rates Year 2023/2024 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.

Joint Agent
Michael Hodgson: Ref EPC
C4178 Awaiting information