Athenaeum Street, 48-48a John Street, Sunderland, Tyne and Wear, SR1 1QX

Location

The property is situated on John Street at the corner of junction with Athenaeum Street in Sunderland city centre within the Tyne & Wear urban conurbation.
The subject street is just east of Sunderland train station whilst the Bridges shopping centre and the main retail core are also west of the subject. University of Sunderland city campus is also just west of the subject, with Mowbray Park to the south. Sunniside was traditionally the professional district of Sunderland. Since significant redevelopment has commenced, there has been a shift of occupiers moving to Grade A offices at Keel Square meaning demand has reduced within this location.

Accommodation

The property comprises of two component parts being a single storey unit utilised as the customer facing estate agency branch. The second component comprises of an interconnecting two storey end terraced premises with accommodation over GF, FF and T fall attic accommodation.
The size of the property is 367.56sqm (3,955sqft).

Rateable Value

The rateable values are as follows: 1 St&2nd Fs 48, Athenaeum Street is £9,100 and 4, Athenaeum Street is £6,700.

Lease Details

4a Athanaeum is let on a 10 year term at £17,500 per annum.

Tenure

Freehold: Title number TY225507.

EPC

Available upon request (rating D).

Additional Information

For further information please contact our office direct on , or alternatively via e-mail on . With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.

Auctioneers Additional Comments

Pattinson Auction are referred to below as The Auctioneer. This auction lot is being sold under either conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between any marketing agent and The Auctioneer so that all matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid on any property marketed by The Auctioneer, all bidders buyers must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere. Our verification process is in place to ensure AML procedures are carried out in accordance with the law

Auctioneers Additional Comments

The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and the auctioneer and will typically be within a range above or below 10% of the Guide Price , Starting Bid. These prices are subject to change. An auction can be closed at any time with the auctioneer permitting for the property (the lot) to be sold prior to the end of the auction. A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers obligations and sellers commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

Auctioneers Additional Comments

In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and the Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.