Office to let in Derwent Street, Sunderland SR1

Location
Derwent Street forms part of Park Lane Shopping Village which is a recognised specialist retail location within very close proximity to Park Lane Transport Interchange and Sunderland College City Campus building. Nearby occupiers include Reynolds Outdoor and Hays Travel. Vistry Homes are currently on site at the nearby former civic centre building which will provide approximately 275 new homes for this part of the city centre increasing footfall once completed. The location of the property is shown on the attached plan.

Description
The ground floor space has been refurbished to a very high standard having been used as offices for a number of years with open plan space to the front and 2 glazed meeting rooms to the rear with staff breakout area and WC’s. On the first floor is an open plan office which has been used as a photographic studio.

Accommodation
The property briefly comprises as follows:-

ft2 m2
Ground Floor ft m
Sales Area Internal Width 20’7 6.27
Max sales Depth 52’4” 15.95
Sales Area 1026 95.32

Kitchen/Staffroom 62 5.76

WC

First Floor
Studio/Office 454 42.18

Tenure
A new Lease is available at a commencing annual rental of £14,000 for a term of years to be agreed (minimum 3 years) on a Tenant Fully Repairing and Insuring basis subject to 3 yearly Rent Reviews.

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

Viewing
Contact – Mario Jaconelli or Alexa Reavley

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• VAT
The property is not elected for VAT.

Rateable Value (rv)
The Valuation Office has confirmed the current Rateable Value is £15,500. The Uniform Business Rate for the Rates Year 2024/2025 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.

Ref
C4211

EPC

Energy Rating 57/C