Douro Terrace, Sunderland

DEVELOPMENT OPPORTUNITY / INVESTMENT OPPORTUNITY OR OWNER OCCUPIER PURCHASE.

An exciting opportunity to purchase a paid of Grade II listed mid terraced properties that are arranged over 4 floors that have had planning passed to convert them into 8no self contained flats. A purchaser could secure the buildings and undertake the passed planning to convert into 8no apartments or refurbish the current accommodation back into individual office space. Plans are available upon requested and viewing is advised to fully appreciate this exciting opportunity.

Location - Douro Terrace forms part of the A1018 which is one of the main arterial routes leading from the south of Sunderland City Centre in a highly visible position on the fringe of the City Centre close to its junction with Mowbray Road and Burdon Road, Mowbray Park and is within walking distance of the City Centre. Douro Terrace commands a sought after location within the Ashbrooke Conservation area and is surrounded by a mixture of residential and commercial uses including The Wearside Masonic Temple, Mumbai Silk Indian Restaurant and the currently under construction development of West Park Quarter by Linden Homes comprising of 265 new build properties.

Description - The property comprises two Grade II listed mid terraced bay fronted properties that are arranged over 4 floors having a basement, ground floor, first floor, second floor and externally a front forecourt and a rear parking area.

Accommodation - The property is arranged over 4 floors with accommodation to the Basement, Ground Floor, First Floor and Second Floor.

We calculate the approximate areas are as follows:

3 Douro Terrace
Basement
Ground Floor
First Floor
Second Floor
Total - 273 sq m

4 Douro Terrace
Basement
Ground Floor
First Floor
Second Floor
Total 249 sq m

Externally there is a front forecourt and parking to the rear

Planning - Planning has been passed by Sunderland City Council for Change of use from Class E and F2 to create 8no. residential dwellings (Use class C3) and associated alterations

The planning approval reference with Sunderland City Council is 24/01677/FUL

Please also note the listed planning consent approval is: 24/01678/LBC


Further details and plans upon request.

Approved Planning Accommodation - The passed planning permission will once converted offer the following accommodation:

3 Douro Terrace
Basement - 1 Bed flat comprising of: Lobby, Store, Kitchen / Living Room, Bathroom Bedroom
Ground Floor - 1 Bed flat comprising of: Lobby, Store, Kitchen / Living Room, Bathroom Bedroom
First Floor - 1 Bed flat comprising of: Lobby, Store, Kitchen / Living Room, Bathroom Bedroom, Study Room
Second Floor - 1 Bed flat comprising of: Lobby, Store, Kitchen / Living Room, Bathroom Bedroom

4 Douro Terrace
Basement - 1 Bed flat comprising of: Lobby, Store, Kitchen / Living Room, Bathroom Bedroom
Ground Floor - 1 Bed flat comprising of: Lobby, Store, Kitchen / Living Room, Bathroom Bedroom
First Floor - 1 Bed flat comprising of: Lobby, Store, Kitchen / Living Room, Bathroom Bedroom, Study Room
Second Floor - 1 Bed flat comprising of: Lobby, Store, Kitchen / Living Room, Bathroom Bedroom

Purchase Price - £325,000

Current Tenancies - We are advised that the first floor to no3 Douro Terrace is held on a lease by Wearside Masonic Temple Limited for a term of 25 years and expires the 1st February 2026 at a passing rent of £2,500 per annum. This tenancy will not be renewed.

Tenure - We are advised by the Vendors that the property is Freehold. Any prospective purchaser should clarify this with their Solicitor