Property for sale

Borough Road, Sunderland SR1

Summary

*** 3 Property portfolio, to be sold via auction *** Terms and conditions apply ***

Pattinson estate agents are delighted to offer a fantastic investment opportunity to acquire a portfolio of three modern apartments within the highly sought-after Horizon House development in the heart of Sunderland City Centre.
This portfolio is being offered with a strategic mix of immediate rental income and capital appreciation potential, making it an ideal addition for seasoned investors or those looking to expand their buy-to-let portfolio.

Portfolio Overview
Total Properties:
3 modern apartments (Apartment 122, Apartment 611, and Apartment 612).
Occupancy Status: Two apartments are sold vacant; one apartment is sold with a tenant in situ.
Current Rental Income: The tenanted apartment generates 500 per calendar month (6,000 per annum).
Tenure: Leasehold - 243 years remaining on each.
Location: Prime city centre location with excellent rental demand.

Property Breakdown
Apartment 122 Horizon House
Status: Vacant possession.
EPC: D rated
Description: A well-proportioned apartment featuring an open-plan living and kitchen area, a modern bathroom, and a neutral interior. Ideal for immediate marketing to professionals or students to maximize rental yield.

Apartment 611 Horizon House
Status: Vacant possession.
EPC: C rated
Description: An upper-floor apartment boasting excellent views over the city. Perfectly positioned alongside Apartment 611, providing an excellent opportunity to let out at current market rates or refresh for resale.

Apartment 612 Horizon House
Status: Tenanted.
Rental Income: 500 per month (6,000 per annum).
EPC: C rated
Description: Situated on an upper floor, this property offers immediate, hassle-free cash flow from day one with a reliable tenant in situ.

Location & Amenities
Horizon House is situated in a prime position on Borough Road, placing it right at the epicenter of Sunderland's city centre regeneration. This highly accessible location ensures a consistently high rental demand from a diverse demographic of tenants, ranging from young working professionals to academic staff.
Commuters will find the location exceptionally convenient, as the development sits just a short walk away from the Sunderland Interchange and Metro station. This provides rapid, direct transport links across the wider Tyne and Wear region, including easy access to Newcastle City Centre and Newcastle Airport.
For student accommodation requirements, the property is perfectly positioned. It sits just minutes away from the University of Sunderland City Campus, making it a highly attractive option for the university's large student population.
Additionally, the cultural and retail heart of the city is right on the doorstep, with The Bridges Shopping Centre, local supermarkets, gym facilities, and a vibrant selection of bars and restaurants all within short walking distance.
Portfolios of this nature within Horizon House rarely come to the market. With two vacant units ready to be optimized for maximum market rent and one unit providing immediate yield, this lot offers a balanced, high-utility investment profile.

Please contact our Sunderland team for further details

Council Tax Band: A
Tenure: Leasehold
Length of Lease: 243
Annual Ground Rent Amount: 150.00
Annual Service Charge Amount: 2,080.00
Service Charge Review Period: Yearly

Auctioneers Additional Comments

Pattinson Auction are referred to as The Auctioneer. This auction lot is being sold by either conditional (Modern) or unconditional (Traditional) auction terms and overseen by The Auctioneer. The method of auction sale and the applicable terms and conditions are found on the lot page of this property on The Auctioneers website. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details to be shared between any marketing agent and The Auctioneer so that matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid, all bidders must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.

Auctioneers Additional Comments

The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and The Auctioneer and will typically be within a range above or below 10% of the Guide Price or Starting Bid. These prices are subject to change. An auction can be closed at any time, with The Auctioneer permitting the property (the lot) to be sold prior to the end of the auction. A Legal Pack associated with this property is available to view upon request and contains details relevant to the legal documentation, enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers obligations and sellers commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

Auctioneers Additional Comments

In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum fee which could be up to 7,200 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and The Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.