Substantial Retail Property / Redevelopment Opportunity

Key Features

• Prominently located in a well-established, densely populated north Sunderland suburb only 2.5 miles from the city centre
• Former dental surgery premises comprising three interconnected single-storey retail units
• Notable nearby occupiers Greggs, Subway, B&M, Heron and Iceland
• Potential to reinstate as three self-contained retail units of c. 1,000 sq ft each, with an ERV of c. £40,000 per annum post-refurbishment
• Would suit a variety of uses (subject to consents)

Location

The Green is a busy suburban shopping parade serving a densely populated residential area approximately 2.5 miles north-west of Sunderland city centre. Nearby occupiers include B&M, Heron Foods, Iceland, Greggs, Subway and Ramsdens, alongside a range of local traders.

Description

The property comprises three interconnecting single-storey retail units of brick construction beneath a flat roof. It has been occupied as a dental surgery for many years and may suit a variety of uses, either as a whole or in part.

There is potential to reinstate the premises as three self-contained retail units of approximately 1,000 sq ft each, with an estimated rental value of around £40,000 per annum post-refurbishment, subject to the necessary consents. Further details are available upon request.

Available area

Terms

We are instructed to seek offers in excess of £200,000 for the benefit of our clients’ freehold interest.

Business Rates

Rateable Value: £19,000
Rates Payable £8,208 per annum

Our estimates are calculated by applying the appropriate Business Rate Multiplier to the RV. It is important that interested parties confirm the accuracy of this information and the actual rates payable with the Local Authority.

EPC

Awaiting EPC

VAT

All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Graham S Hall upon this basis and where silent, offers will be deemed net of VAT.

Anti-Money Laundering Regulations

In accordance with anti-money laundering regulations, two forms of identification and confirmation of the source of funding will be required from the purchaser / tenant.

About Us

Established in April 2017, Graham S Hall Chartered Surveyors are a highly regarded independent firm of Chartered Surveyors and commercial property agents based in Durham.

We are passionate about property and getting the best results for our clients. We pride ourselves on hard work and giving good honest advice, irrespective of the fee and even when it might not be what the client wants to hear.

While our focus is primarily on sales, lettings and acquisition of retail, office, industrial and investment, we also offer extensive experience in asset management, development and lease advisory, such as lease renewal and rent review.

Our main core areas of work include:

Leasing and letting
Sale and purchase
Investment sale and purchase
Lease renewal and rent review
Asset management
Development
Consultancy
Expert witness

However big or small, we are ready to help. Talk to us today.