Residential Development for sale

Profit Rent Investment, Sunderland

Offers in Excess of 1 sq. m. | £30,000

Property Description

Commercial information

  • 10 sq ft (1 sq m)

Key features

  • Profit Rent Investment
  • 14 Properties In Total
  • Both Residential and Commercial
  • Security of Tenure on all 14 Leases

Full description

The subject instruction is a profit rent investment portfolio comprising of both residential and commercial properties.

Our client is the head tenant on 14 properties with the landlord being Sunderland Council. Each lease is a 5 year term protected by the Landlord and Tenant 1954 Act. There are 2 year unexpired on the head lease with the passing rent varying between each instruction.

Lease commencement: 16/06/2012

At present, 12 instructions are currently sublet benefitting from profit rent, 1 instruction is under refurbishment and 1 is vacant.

Currently the portfolio benefits from annual profit of 19,019,40.

If fully let, the portfolio benefits from annual profit of 28,503.72

There are two new properties due to be taken on, both situated in Red House. The additional income being 3,672 would increase the potential rental income as a fully let investment to: 32,175.72.

Full breakdown available on request.

LOCATION
14 instructions across Sunderland:

15 Galashiels Road
19 Galashiels Road (Commercial)
21 Galashiels Road
29 Galashiels Road
29a Galashiels Road
27 Redmond Road
31 Redmond Road
28 Chisick Square
29 Chisick Square
108a The Drive
42a Tadcaster Road
140a Allendale Road
37 Coverley Road
25a Queensway

TENURE
The profit rent portfolio is to be sold at offers over 30,000 pounds.

This is subject to approval of assignment of all 14 head tenancies which would need to be ratified by the landlord, Sunderland City Council. We understand the liabilities within the lease ensure assignment cannot to be unreasonably withheld.

LEASE TERMS
We have been advised the residential tenancies are sublet on 6/12 month Assured Shorthold Tenancies with the commercial premises let on a business tenancy.

Nearest stations

  • Sunderland (0.3 mi)
  • Park Lane (0.5 mi)
  • St Peter's (0.6 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Pattinson Estate Agents, Commercial

21/23 Ridley Place, Newcastle Upon Tyne, NE1 8JN

0191 687 0258 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

  • Sunderland (0.3 mi)
  • Park Lane (0.5 mi)
  • St Peter's (0.6 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Pattinson Estate Agents, Commercial

21/23 Ridley Place, Newcastle Upon Tyne, NE1 8JN

0191 687 0258 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.

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