Frederick Street, City Centre, Sunderland

An exciting opportunity to purchase 3no interlinked terraced properties situated on Frederick Street in Sunderland City Centre in an area known for its professional services and is predominantly occupied by a mix of solicitors, surveyors, estate agents and insurance brokers together with a number of niche retailers and office. In recent years this part of the city centre has been the subject of redevelopment and in particular has seen a number of similar properties reverting from office use back to residential for which they were originally constructed and the subject properties would lend themselves to a similar conversion, subject to planning.

Location - An exciting opportunity to purchase 3no interlinked terraced properties situated on Frederick Street in Sunderland City Centre in an area known for its professional services and is predominantly occupied by a mix of solicitors, surveyors, estate agents and insurance brokers together with a number of niche retailers and office. In recent years this part of the city centre has been the subject of redevelopment and in particular has seen a number of similar properties reverting from office use back to residential for which they were originally constructed and the subject properties would lend themselves to a similar conversion, subject to planning.

Description - The property comprises 3no interlinked terraced properties that are arranged over 4 floors having a ground floor, first floor, second floor (attic) and basement, to the rear of the building is a newer modern mews providing office space and there are two rear yards providing off street parking for a number of cars accessed via electric roller shutter.

Within the building are shared WC's and a Kitchen

Accommodation - We calculate the property provides the following approximate net internal areas:

22 Frederick Street

Basement - 71.24 SQ M (767 SQ FT)

Ground Floor - 38.02 SQ M (408 SQ FT)

First Floor - 44.33 SQ M (477 SQ FT)

Second Floor - 27.67 SQ M (297 SQ FT)


Rear Mews - TBC

23 Frederick Street

Basement of 23 & 24 - 95.17 SQ M (1024 SQ FT)

Ground Floor - 50.54 SQ M (544 SQ FT)

First Floor - 41.26 SQ M (444 SQ FT)

Second Floor - 24.51 SQ M (264 SQ FT)

24 Frederick Street

Basement - 95.17 SQ M (1024 SQ FT)

Ground Floor - 56.97 SQ M (613 SQ FT)

First Floor - 59.25 SQ M (637 SQ FT)

Second Floor - 27.74 SQ M (299 SQ FT)

Tenure - We are advised the property is Freehold

Tenancy Details - We are advised of the following leases in place. The majority of the property is currently vacant

22 FREDERICK STREET

Basement - A lease from 1st April 2023 at a passing rent of £5719.95 per annum. The tenant has a 6 months break clause
Ground Floor - Vacant
First Floor - Vacant
Second Floor - Vacant
Rear Mews - A lease from 1st October 2005 at a passing rent of £2484 per annum. The tenant is currently holding over on the lease.

23 FREDERICK STREET

Basement - 23&24 - A lease from 21st December 2022 at a passing rental of £13,000 per annum. The tenant has a 6 months break clause
Ground Floor - Vacant
First Floor - Vacant
Second Floor - vacant

24 FREDERICK STREET

Basement - 23&24 - A lease from 21st December 2022 at a passing rental of £13,000 per annum. The tenant has a 6 months break clause
Ground Floor - Vacant
First Floor - Vacant
Second Floor - vacant

Rear Parking Bays

Asking Price - £450,000 - Four Hundred and Fifty Thousand Pounds

Rateable Value - The Valuation Office has confirmed the current Rateable Values are as follows:

No 22:

Ground Floor - £3,900
First Floor - £4,000
Second Floor - £1,875
Basement - £3,500

23/24 - £16,000


The Uniform Business Rate for the Rates Year 2023/2024 is 49.9p. If necessary, a written request should be made to the Local Authority for confirmation.

Viewing - Please contact the office on - email

Or our Joint Agents

Contact – Marc Weaver or Alexa Reavley
or


Money Laundering Regulations - In accordance with Anti –Money Laundering Regulations, the Purchaser/Tenant will be required to provide 2 forms of identification together with confirmation of the source of funding.

Disclaimer - None of the equipment or systems within the premises have been tested by the Agent and it is the responsibility of the Purchaser/Lessee to ensure that they are in working order.

Epc - TO FOLLOW

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