Ryhope is a coastal village along the southern boundary of the City of Sunderland. It is located is 2.9 miles from the centre of Sunderland, 2.8 miles from the centre of Seaham, and 1 .2 miles from the main A19.
The opportunity comprises an end terraced two storey property with a vacant ground floor retail unit and at the first floor level there is a spacious three bedroom flat with separate access. The shop has consent to trade as an off licence and the flat currently has a tenant in place.
The property has been measured in accordance with the RICS Code of Measuring Practice and has the following Net Internal Areas (NIA):
Shop circa 1,058 sq.ft.
Flat 676 sq.ft.
Each party is to be responsible for their own legal costs
The flat is occupied till March 2018 at a passing rent of £400 per calendar month. The shop is vacant.
Our client is looking to dispose for the Freehold interest of the property subject to the occupational leases.
The asking price for the property has been reduced to £124,950.
We understand the premises have planning permission for use as A1 Retail on the ground floor with Off Licence consent and C3 Dwelling House for the first floor under the Town & Country Planning (Use Classes) order 1987.
Business Rates and Council Tax
Following enquiries with the Local Rating Authority we are advised that the rateable values are as follows:
1 Gordon Terrace - Retail
Description: Shops and Premises
Rateable Value: £7,800
Rates free incentives subject to individual status.
1 Gordon Terrace - Flat
Council Tax: Band A