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Retail Property (high street) for sale

12 Fawcett Street, Sunderland, SR1

224 sq. m. | Offers Invited

Property Description

Commercial information

  • 2,411 sq ft (224 sq m)

Key features

  • Investment Opportunity
  • Sunderland City Centre
  • Potential income 83,240 per annum
  • Ideal Location

Full description

INVESTMENTS FOR SALE:

The subject is a growing concern investment opportunity which forms part of a four storey mid terraced brick building in the heart of Sunderland City Centre.
Part of the sale will form the sale and lease back on ground floor retail accommodation.
When fully let the investment will potentially produce a yield in excess of 11% based on the asking price.

LOCATION
The subject property is situated on Fawcett Street in the heart of Sunderland City Centre. The retail premises occupies a prominent location with various large retailers located nearby. Sunderland Train Station is also a reasonable distance away.

ACCOMMODATION
Basement: consists of storage NIA approximately 112.8m2 (1,214 sq. ft.) Ground floor: currently trading as Chinese supermarket NIA 112.8m2 (1,214 sq. ft.) First floor: consists of a two bedroom communal flat. Second floor: Consists of 2 x 3 bedroom communal flats: Third floor: consists of 2 x 3 bedroom communal flats.

LEASE TERMS
Ground floor and basement: We are advised that lease 25,000 on a 10 year lease agreement. First, second and third floor: are all on year long rolling AST tenancy agreements.

RATEABLE VALUE
We have been advised that the Rateable Value for the Ground Floor and Basement is £28,380 per annum. Source: www.VOA.co.uk.

INVESTMENT DETAILS
Ground Floor and Basement: 25,000 per annum First Floor: 8,320 per annum Second and Third Floor: 49,920 Total: 83,240.

EPC
We await copy of the energy performance certificate.


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