Retail premises to let in Park Lane, Sunderland SR1

Location
The property is prominently located having frontage to Park Lane immediately opposite its junction with Olive Street adjacent to Sunderland College’s new City Campus building which opened in 2016 following an investment of circa £30m. Vistry Homes are also on site nearby with their new 250 home residential scheme on the former civic centre and the Bridges Shopping Centre and Park Lane Transport Interchange are also nearby together with national retailers such as Coral, Paddy Power, McColl’s and Greggs.

Description
The property has been occupied by Boots Chemist for a number of years and comprises 3 compact interconnecting retail units arranged over ground floor only.

Accommodation
The property briefly comprises as follows:-

ft2 m2
Ground Floor
Sales Area 1704 158.30

Tenure
A new Lease is available at a commencing annual rental of £15,000 for a term of years to be agreed (maximum 5 years) on an internal repairing basis subject to service charge detailed below. The lease will exclude the provisions of the landlord and Tenant Act 1954 which will exclude the tenants automatic right to renewal on expiry.

VAT

The rent is not subject to VAT.

Service Charge
The property forms part of a larger building and a service charge is payable in addition to the annual rent calculated on a proportionate ad-hoc basis subject to annual review.
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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• Rateable Value (rv)
The Valuation Office has confirmed the current Rateable Value is £31,250. 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 C4231

EPC Energy Rating 85/D