£500,000
(£452.08/sq. ft)
Restaurant for saleDomino’S, 58-60 St. Lukes Terrace, Sunderland SR4
1,106 sq. ft
About this property
Freehold mixed-use investment: Full building
Ground floor let to Domino’s (dp Realty Ltd)
2 residential apartments on short assured tenancies
102.8 sq m (1,106 sq ft) commercial
Commercial lease expiry 25 October 2040, next review October 2030
Total passing rent £35,000 p.a. (£24,500 commercial + £10,500 residential)
Price £500,000, a gross yield of 7.0%
TSA Property Consultants are delighted to bring to the market this double-fronted, mid-terrace mixed-use investment within a popular neighbourhood parade in the west of Sunderland. The ground floor provides sales, preparation, storage and ancillary office areas with staff WC, and is let to dp Realty Ltd and Sunderland dp Ltd (Domino’s) on a lease expiring 25 October 2040, with the next review in October 2030. The upper floors comprise two residential apartments let on rolling short assured tenancies at £5,400 p.a. And £5,100 p.a. The total passing rent is £35,000 per annum. We are instructed to seek £500,000 for the freehold interest, subject to contract and exclusive of VAT, reflecting a gross yield of 7.0%.
Dp Realty Ltd is a wholly owned subsidiary of Domino’s Pizza Group plc and acts as the main intermediary tenant for the vast majority of Domino’s stores in the UK and Ireland, handling over 1,300 stores nationwide. All figures quoted are exclusive of VAT. Each party is responsible for their own legal costs.
Location
Situated in the west of Sunderland, Tyne & Wear, the property is positioned in a dense residential and commercial area with a mix of retail units, takeaways and local services serving a strong local catchment.
Sunderland is a port city at the mouth of the River Wear on the North Sea coast, about 10 miles south-east of Newcastle upon Tyne. The metropolitan borough has a population of around 291,000 (wider metro area nearing 350,000). Transport links include the Tyne and Wear Metro, mainline rail and quick access to the A19 and A1(M).
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