Studio flat for sale

INVESTMENT SALE - This 4 storey mid terraced property is located on Frederick Street in Sunderland City Centre which is considered to be the professional district of the city with many surrounding occupiers including solicitors, estate agents amongst a mix of other retailers and cafes / restaurants. The property is arranged over 4 floors and is fully occupied by 3no tenants. To the rear is a yard for car parking. Full lease details are available upon request. The passing rent for the building is £14,560 per annum.

Location - This 4 storey mid terraced property is located on Frederick Street in Sunderland City Centre which is considered to be the professional district of the city with many surrounding occupiers including solicitors, estate agents amongst a mix of other retailers and cafes / restaurants.

Description - The property is arranged over 4 floors and is fully occupied by 3no tenants to the ground floor, first floor & second floor (attic) and a self contained basement. Within the building are shared WC's and a Kitchen

To the rear is a yard for car parking. Full lease details are available upon request.

Accommodation - We calculate the property provides the following approximate net internal areas:

Basement - 43.07 SQ M (464 SQ FT)

Ground Floor - 41.45 SQ M (446 SQ FT)

First Floor - 70.64 SQ M (760 SQ FT)

Second Floor - 43.07 SQ M (463 SQ FT)

Asking Price - £160,000 - One Hundred and Sixty Thousand Pounds

Tenancy Details - We have been advised of the following tenancies in the property:

Basement - A lease for a term of 5 years from 1st July 2022 at a passing rent of £4680 per annum. The tenant has a 6 months break clause

Ground Floor - A lease for term of 1 year from 1st May 2019 at a passing rent of £4680 per annum. The tenants are holding over on the lease.

First & Second Floor - A lease for term of 1 year from 5th April 2019 at a passing rent of £5200 per annum. The tenants are holding over on the lease.

Tenure - The property is being sold on a freehold basis subject to the leases in place.

Money Laundering Regulations - In accordance with Anti -Money Laundering Regulations, the Purchaser/Tenant will be required to provide 2 forms of identification together with confirmation of the source of funding.

Disclaimer - None of the equipment or systems within the premises have been tested by the Agent and it is the responsibility of the Purchaser/Lessee to ensure that they are in working order.

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Or our Joint Agents

Contact - Marc Weaver or Alexa Reavley
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Freehold Legal Costs - Each party will be responsible for their own Legal Fees incurred in the transaction.

Rateable Value - The Valuation Office has confirmed the current Rateable Values are as follows:

Ground Floor: £4,750
First & Second Floors: £7,800
Basement: £3450



The Uniform Business Rate for the Rates Year 2023/2024 is 49.9p. If necessary, a written request should be made to the Local Authority for confirmation.