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Retail Property (high street) for sale

Fawcett Street, City Centre, Sunderland


Property Description

Key features

  • 200,000

Full description

FOR SALE - RETAIL UNIT WITH PLANNING FOR AN EXTENSION TO THE UPPER FLOORS HAS BEEN PASSED TO CONSTRUCT 7 NO FLATS - PLANS UPON REQUEST. The property comprises of a self contained retail unit located on Fawcett Street which is a busy retail pitch in Sunderland City Centre adjacent close to Lloyds TSB, HSBC, RBS and Co-Operative Bank in addition to being close to The Bridges Shopping Centre. Fawcett Street is a busy city centre location. Sunderland is situated on the north east Coast of England and is one of the largest cities in the region with a population of 280.000 at the mouth of the River Wear, approximately 12 miles south east of Newcastle upon Tyne and 13 miles north east of Durham. The A19 provides access to Newcastle upon Tyne via the Tyne Tunnel and also south to Middlesbrough and Stockton on Tees which is approximately 20 miles away. Sunderland is also linked with the A1(M) via the A690 and A1231 dual carriageways.

Location - The property occupies prominent location on Fawcett Street close to the junction with High Street West. Nearby occupiers include RBS, Poundland, Ladbrokes, Lloyds, Barclays, Natwest in addition to a number of local, regional and national operators.

Description - The property comprises of a ground floor retails hop providing an open plan sales area with offices / storage and WC facilities to the First, Second and Third Floors.

Accommodation - We calculate the following approximate areas:

Ground Floor: 154 sq m (1657 sq ft)
First Floor: 42.73 sq m (459 sq ft)
Second Floor: 27.77 sq m (299 sq ft)
Third Floor: 28.36 sq m (305 sq ft)

Purchase Price - We are seeking offers in the region of £200,000


Erection of four-storey extension and 'link' to rear of existing building, alterations to existing ground floor shop front and provision of 7 no. residential flats within upper floors of existing building and new rear extension (amended description as per amended drawings received 19/06/2015).

The Sunderland council planning reference is: 14/02357/FUL

Tenure - We have been advised that the property is freehold tenure.

Rateable Value - Following an enquiry on the Valuation Office website we have ascertained that the Rateable Value is £22,000. However this figure cannot be relied upon and if necessary a written request should be made to the Local Authority for confirmation. The Uniform Business Rate for the Rates Year 2015/2016 is 49.3p

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

Vat - All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made upon this basis, and where silent, offers will be deemed net of VAT

Viewing - Strictly by appointment only through sole agents Michael Hodgson Chartered Surveyors & Estate Agents. Tel No. (0191) 5657000

More information from this agent

Energy Performance Certificates (EPCs)

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