Skip to content

226 Chester Road, Sunderland, SR4 7HR

£189,950

Business rates & charges may apply

Christie & Co, Retail
SIZE

Ask agent

SECTOR

Commercial property for sale

Key features

  • Busy retail location
  • Separate first floor flat
  • Total rent £13,600 pa
  • Gross initial yield 7.16%
  • Freehold
  • EPC Rating C (ground floor) and D (first floor)
  • Christie & Co Ref: 6411118

Description

Description

Traditional 19th century, brick built mid-terrace property, arranged over two storeys with a pitched and tiled roof. The ground floor comprises a retail unit with ancillary staff and storage areas, as well as a small yard at the rear. The first floor is a two bedroom self contained flat with separate external and internal access.

Location

The property is located in the Bishopwearmouth area of Sunderland, to the west of the city centre on the A183 Chester Road, which is a busy arterial road that connects directly with the A19 to the west. The property is situated within a popular neighbourhood retail area that serves the local residents and passing customers. The retail unit is prominently located amongst other complementary businesses, including the adjacent Post Office and a Spar convenience store opposite (connected via a pedestrian crossing).

This is a vibrant retail area which is well let. The Sunderland Royal Hospital contributes to steady levels of footfall all year round.

Internal Details

The ground floor shop unit has a net internal area of 69.1 square metres (744 square feet), including storage and office areas (source: VOA). The shop has an EPC rating C (expiring July 2033).

The first floor flat has two bedrooms, a bathroom, lounge and kitchen. The EPC certificate states that it has a gross internal floor area of 89 square metres (958 square feet) and an EPC rating D (expiring June 2025).

VAT

The property has not been elected for VAT purposes and so VAT will not be chargeable on the purchase price.

The Opportunity

We are instructed to seek offers of £189,950 (one hundred and eighty nine thousand, nine hundred and fifty pounds) subject to contract and exclusive of VAT. This price equates to a gross initial yield of 7.16% per annum.

Tenure

Freehold. Land Registry title number TY37608.

Tenancy

The ground floor shop is let to a private individual, trading as ‘Park Lane Cards & Gifts’, on the terms of a five year lease which is holding over from 22 May 2023 at the current rent of £7,000 per annum. No notices have been served under the Landlord & Tenant Act 1954.

The first floor flat is let on an Assured Shorthold Tenancy at a current rent of £550 per calendar month (£6,600 per annum).

Business Rates

The tenant is responsible for all outgoings including business rates. For information, the Rateable Value of the ground floor retail unit is £6,500.

Energy Performance Certificates

EPC 1

Brochures

226 Chester Road, Sunderland, SR4 7HR

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • University Metro Station0.3 miles
  • Millfield Metro Station0.3 miles
  • Park Lane Metro Station0.7 miles

About Christie & Co, Retail

Whitefriars House, 6 Carmelite Street, London, EC4Y 0BS

We’re the leading specialist advisor for buying and selling businesses in our sectors - hotels, pubs, restaurants, childcare, healthcare, convenience retail, leisure and medical.

If you’re looking to buy or sell a business in our specialist sectors – from a pharmacy in Sussex to a hotel in Austria – our expert advice and collaborative support will help you achieve your goals. You may be an independent first-time buyer or a multinational adding to your portfolio; either way, you’ll discover that our personalised service is focused on helping you achieve your ambitions.

Clients have access to our carefully managed network of potential buyers. This unique database of contacts has been continually developed by our advanced IT capabilities and benefits from both our years of experience developing our network and our wide geographical coverage.

Where we work

We employ the largest team of sector specialists in the UK and the largest group of hotel specialists in Europe, providing professional brokerage and advisory services from offices in major cities across Britain and Europe. And because we’ve been doing this for over 80 years, we know our sectors and local markets inside out. We work closely with our clients to guide and conclude transactions of any size, covering hotels, restaurants and pubs, leisure, forecourts and convenience retail businesses, social care and elderly care, childcare & education facilities, dental practices and pharmacies.

Our professional services

We offer unrivalled insight, experience and expertise across your choice of services, including brokerage, consultancy, finance, development, investment, surveying, rent reviews, dispute resolution, corporate valuation, and turnaround & recovery. These services are all underpinned by our in-depth market intelligence and leading-edge technology. And we’re accredited by the Royal Institution of Chartered Surveyors (RICS), so you can trust in our professionalism.

What makes us tick

Businesses are about people, so relationships matter to us. We bring an integrity and transparency to business which can be all too rare – and that’s why people trust us. Our clients will attest to our genuine desire to help achieve their objectives, our attention to detail, and our tireless hard work on their behalf. We understand that buying a business can bring its own pressures and strains; needs can change, plans may need to be adjusted, and opportunities can come and go. But we’re always here, a constant, flexible and reliable force you can count on.

Our opening hours for all offices:

Mon – Fri, 9am – 5.30pm

Notes

These notes are private, only you can see them.

Disclaimer - Property reference 6411118-fh. 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 Christie & Co, Retail. 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.

Map data ©OpenStreetMap contributors.