Location
The property is located on the main route which runs north out of Sunderland City centre across the iconic Monkwearmouth Bridge. The area is undergoing significant investment and following the construction of the Stadium of Light, a large TESCO superstore has been built, the main road junction and traffic flow has been significantly improved and a new Hilton hotel has recently opened.
The unit forms part of a parade of shops which occupy the ground floor of a large student accommodation block operated by Fortis.
Description
Comprising a ground floor retail unit forming part of a large accommodation block.
Accommodation;
Ground Floor
Main Shop 119.8m² (1,290 sq.ft.)
Staff Toilet
Occupational Lease
The property is occupied by Mr. D. Sobolewski holding over by way of a 10 year FRI lease from February 2013. The rent is £12,000 per annum and is payable monthly in advance. The tenant has paid a 3 months bond and is in discussions with the landlord regarding an open ended term with a rolling 6 months tenant’s break clause.
Business Rates
Rateable value of £11,500.
Services
Mains electricity, water and sewerage services are connected to the property.
Tenure
For sale long leasehold with the occupational lease in place. The unit is for sale on a long leasehold basis by way of a 250 year lease from 20/4/2016 at a peppercorn rent.
Asking Price
OFFERS IN THE REGION of £100,000 are sought for the long leasehold interest.
Legal Costs
Each party to bear their own.
EPC
Rating TBC - should you require sight of the Energy Performance Certificate, prior to making a viewing, then please get in touch with this office.