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Shop & Flat

Ryhope £124,950 Freehold REF: NE523

Location

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.

Description

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.

Accommodation

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.

Legal Costs

Each party is to be responsible for their own legal costs

Leases

The flat is occupied till March 2018 at a passing rent of £400 per calendar month.  The shop is vacant.

Asking Price

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.

Planning

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

 

 

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