Commercial Property for sale

Mary Street, City Centre, Sunderland

£290,000

Property Description

Key features

  • For Sale
  • Investment
  • City Centre
  • 3no Properties
  • Fully Let
  • 20,000 in Year 1
  • 24,000 in Years 2, 3,4 & 5
  • EPC Rating: C

Full description

INVESTMENT FOR SALE 3 NO PROPERTIES SITUATED ON MARY STREET IN SUNDERLAND CITY CENTRE

The properties are situated fronting Mary Street in the city centre of Sunderland in an established retail and commercial area close to the Park Lane Bus and Metro Interchange. Mary Street is situated just off the A1231 Stockton Road which forms one of the main arterial routes around the city. Nearby occupiers include Chaplin's Public House, Banardos, Hays Travel, and a mixture of other retail / office occupiers. The properties comprises of three adjoining and linked, two storey offices having brick elevations under a dual pitched slate roof to the main elevation leading to a single pitched elevation to the rear modern two storey rear extension. Internally the properties have been modernised and fitted as offices to a good standard incorporating suspended ceilings in part, fluorescent lighting and modern décor. There is a lift situated in No4. There are ample provisions for WC's to each floor and kitchen facilities. Externally to the rear is parking for approximately 6 cars to the rear yards which are accessed via electrically operated roller security shutters. Viewing is advised. FULL DETAILS REGARDING THE LEASE IS AVAILABLE UPON REQUEST

Location - The properties are situated fronting Mary Street in the city centre of Sunderland in an established retail and commercial area close to the Park Lane Bus and Metro Interchange.

Mary Street is situated just off the A1231 Stockton Road which forms one of the main arterial routes around the city.

Nearby occupiers include Chaplin's Public House, Banardos, Hays Travel and a mixture of other retail / office occupiers.

Description - The properties comprises of three adjoining and linked, two storey offices having brick elevations under a dual pitched slate roof to the main elevation leading to a single pitched elevation to the rear modern two storey rear extension.
Internally the properties have been modernised and fitted as offices to a good standard incorporating suspended ceilings in part, fluorescent lighting and modern décor. There is a lift situated in No4. There are ample provisions for WC's to each floor and kitchen facilities. Externally to the rear is parking for approximately 6 cars to the rear yards which are accessed via electrically operated roller security shutters.

Accommodation - From our measured inspection we calculate the net internal areas are as follows:
Ground Floor

No 4 - 32.52 sq m (350 sq ft)
No 5 - 37.74 sq m (406 sq ft)
No 6 - 39.56 sq m (426 sq ft)

First Floor

No 4 - 35.69 sq m (384 sq ft)
No 5 - 47.81 sq m (515 sq ft)
No 6 - 29.34 sq m (316 sq ft)

Total N.I.A - 222.66 (2397 sq ft)

Lease Details - The property is held by way of a year lease for a term of 5 years from 1st July 2016 at a passing annual rental of £24,000 to Northumberland Tyne and Wear NHS Foundation Trust.

The rent in years 2, 3, 4 & 5 will be £24,000 per annum,

There is a break clause on the 3rd anniversary of the term subject to 6 months prior written notice

Purchase Price - We are seeking offers in the region of £290,000

Tenure - It has been advised that the properties are freehold.

Rateable Value - Following an enquiry on the Valuation Office website we have ascertained that the Rateable Value's are as follows:
No 4 & 1st Floors 5 & 6 Mary Street - £10,250
Ground Floor 5 & 6 Mary Street - £5,700
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 2012/2013 is 45.8p.

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)

Nearest stations

  • Park Lane (0.2 mi)
  • Sunderland (0.3 mi)
  • University (0.4 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Michael Hodgson, Sunderland

4 Athenaeum Street, Sunderland, SR1 1QX

0191 687 0488 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Park Lane (0.2 mi)
  • Sunderland (0.3 mi)
  • University (0.4 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Michael Hodgson, Sunderland

4 Athenaeum Street, Sunderland, SR1 1QX

0191 687 0488 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 26538946. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Michael Hodgson, Sunderland. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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