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Commercial Property for sale

Sea Road, Sunderland

£199,950

Property Description

Key features

  • INVESTMENT
  • FOR SALE
  • GROUND FLOOR SHOP
  • FIRST FLOOR FLAT
  • FULLY LET
  • LEASES UPON REQUEST
  • PRODUCING 16,400 PER ANNUM
  • ALL ENQUIRIES

Full description

An exciting opportunity to purchase a fully let investment producing around £16,400 per annum. The property is situated on Sea Road which forms part of a busy tertiary shopping street on the northern side of Sunderland boasting an array of retail occupiers including Banks, Estate Agents, Cafes and many associated operators. Sea Road is sought after location well served by road and transport links in addition to offering easy access to the sea front and its many beaches and attractions. The property comprises of a two storey end terraced retail shop with a self contained two bed flat above. Full details in relation to the leases are available upon request.

Location - The property is situated on Sea Road which forms part of a busy tertiary shopping street on the northern side of Sunderland boasting an array of retail occupiers including Banks, Estate Agents, Cafes and many associated operators. Sea Road is sought after location well served by road and transport links in addition to offering easy access to the sea front and its many beaches and attractions.

Description - The property comprises of a two storey end terraced retail shop with a self contained two bedroomed flat above.

The ground floor shop provides an open plan sales area, office space, kitchen facilities and a WC

The first floor self contained flat has 2 bedrooms, kitchen, bathroom and a living room.

Accomodation - The property provides the following accomodation:

GROUND FLOOR

Sales Area: TBC
Office: TBC
Kitchen: TBC
WC Facilities

FIRST FLOOR FLAT

The flat benefits from Gas Central Heating, Double Glazing and briefly comprises of: Entrance Vestibule, First Floor Landing, Living Room, Separate Kitchen, 2 Bedrooms and a Bathroom.

Lease Details - Each unit is currently let on the following basis:

GROUND FLOOR
The ground floor is let for a term of 10 years from 01.10.2010 at a passing rent of £11,000 per annum.

FIRST FLOOR
The flat is let by way of an assured shorthold tenancy from 08.07.2016 to 07.07.2019 at a passing rent of £450 per month, £5,400 per annum.

Copies of both leases are available upon request.

Purchase Price - We are seeking offers in the region of £199,950 for our clients freehold interest.

Tenure - It has been advised that the property is Freehold

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

Energy Performance Certificates - The ground floor has an energy rating of : D

The first floor flat has an energy ratting of: F

Rateable Value - Following an enquiry on the Valuation Office website we have ascertained that the Rateable Value is £10,750. 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

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


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