150 Gleneagles Road, Sunderland, Tyne and Wear SR4 9QX
- PROPERTY TYPE
Mixed Use
- SIZE
Ask agent
Description
Auction Commencing on Monday 24th August from 1pm and ending 24 hours later on Tuesday 25th August from 11am with Auction House North East.
Please register to bid via our website - auctionhouse.co.uk/northeast
MIXED-USE INVESTMENT OPPORTUNITY PRODUCING £60,000 PER ANNUM!
A mixed-use investment comprising seven commercial units, a car wash and a self-contained flat, generating a current gross rental income of £60,000 per annum.
The commercial accommodation includes two dance studios, a takeaway, a minimarket, a fitness studio, two storage units and a separately let car wash. The residential element comprises of a self-contained three bed flat with bathroom and open plan kitchen/living room.
The majority of the accommodation is let on commercial leases extending through to 2030, 2033 and 2036, providing a range of established income streams. The flat is currently let on an assured tenancy..
The current rental income is as follows:
Unit 1 – Dance Studio – £550 pcm (lease expires 01/10/2033)
Unit 2 – Dance Studio – £750 pcm (lease expires 01/10/2033)
Unit 3 – Burger & Wings – £550 pcm (lease expires 24/03/2030)
Unit 4 – Minimarket – £650 pcm (lease expires 31/05/2027)
Unit 5 – Fitness Studio – £600 pcm (lease expires 07/06/2027)
Unit 6 – Storage – Vacant
Unit 7 – Storage – Vacant
Car Wash – £1,200 pcm (lease expires 01/07/2036)
3 bed Flat – £700 pcm
The property currently produces a gross income of £5,000 per calendar month (£60,000 per annum), with additional potential to increase income through the letting of the two vacant storage units, subject to any necessary consents.
An excellent opportunity for investors seeking an income-producing mixed-use asset with scope to enhance returns.
Tenure: See Legal Pack
Administration Fee: 1.2% inc VAT of the purchase price, payable on exchange of contracts.
Disbursements: Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
150 Gleneagles Road, Sunderland, Tyne and Wear SR4 9QX
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- South Hylton Metro Station1.2 miles
- Millfield Metro Station1.9 miles
- Pallion Metro Station2.0 miles
Notes
Disclaimer - Property reference 202606011306sq_r7a6. 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 Auction House, North East. 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.
Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Auction House, North East on 0191 917 9650.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”